The movement of currency values continues in the informal Cuban market. At dawn this Saturday, the euro rises in price.
The European currency has reached 356.5 CUP, which represents a
The dollar, for its part, remains valued at 350 CUP on this March 22.
Also unchanged is the Freely Convertible Currency (MLC), which remains valued at 275 CUP, a good distance from the other two currencies.
The median values for the purchase and sale of currencies for this Saturday are as follows at the close of this report. Both the purchase and sale values are showing an upward trend.
Exchange Rate Evolution
Exchange rate today 03/22/2025 - 8:27 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 350 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 356.5 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 275 CUP.
Last week, the most recent report from the Cuba Currency and Finance Observatory (OMFi) predicted that conditions were set for an increase in the price of the dollar and the euro in informal buying and selling by the end of this month.
"Due to the situation in the informal currency market, until the first week of March (when a slight excess demand for dollars and euros begins to prevail), forecasting models indicate an appreciation of international currencies between 2% and 5% relative to the Cuban peso over the course of the month. For the MLC, a fluctuation in the opposite direction is expected. The MLC could lose between 5% and 8% of its value against the Cuban peso," the bulletin explained.
According to this analysis, by March 31, rates are expected to be around 350-360 CUP per 1 USD.
In the case of the euro, the estimated rate towards the end of the month is 352-362 CUP per 1 EUR, in the central and maximum scenarios.
For the MLC, rates of 270-260 CUP are expected in the central and minimum scenarios.
However, the economist and chief researcher of OMFi, Pavel Vidal, clarified that the forecasts were subject to the emergence of new announcements regarding economic policy from the Cuban government; "to adjustments in regulatory frameworks for the private sector; to changes in market expectations; and to modifications that may arise in the sanctions policy of the Trump Administration".
Equivalencies of each available euro and US dollar bill to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on March 22:
1 USD = 350 CUP.
5 USD = 1,750 CUP.
10 USD = 3,500 CUP.
20 USD = 7,000 CUP.
50 USD = 17,500 CUP.
100 USD = 35,000 CUP.
EUROS (EUR)
1 EUR = 356.5 CUP.
5 EUR: 1,780 CUP.
10 EUR: 3,560 CUP.
20 EUR: 7,120 CUP.
50 EUR: 17,800 CUP.
100 EUR: 35,600 CUP.
200 EUR: 71,200 CUP.
500 EUR: 178,000 CUP.
Cubans are concerned about the informal exchange rate of the dollar, the euro, and the MLC because it determines their real purchasing power in an economy marked by scarcity and inflation.
The volatility of exchange rates in Cuba causes many residents of the island to closely monitor the developments in the informal market, seeking strategies to protect their purchasing power against the devaluation of the national currency.
In a country where salaries and pensions in Cuban pesos (CUP) do not meet basic needs, access to foreign currency has become a necessity to purchase essential products in stores that only accept foreign currency or to conduct transactions in the black market, where items that are not available in state-run commerce can be found.
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