The informal currency market in Cuba is experiencing a March that is much more active for euros and dollars than what was recorded for those currencies in February, and this has been confirmed again this Thursday.
At dawn on this March 27, the euro rebounds from its drop of the previous day and rises to 358 CUP, three pesos more than recorded yesterday.
In the case of the dollar, the U.S. currency is currently at 352 pesos, a price reached this Wednesday. However, the median of values from recent hours suggests that the dollar may rise soon.
The Freely Convertible Currency (MLC) is still pegged at 275 CUP. After a February filled with fluctuations, the MLC has slightly contracted in recent weeks, according to the independent media elToque which monitors the ups and downs of reference currencies in Cuba.
The median values for the buying and selling of currencies for this Thursday are presented as follows at the close of this report.
Exchange Rate Evolution
The dollar has risen to 355 CUP for sale, while the euro has increased to 360. Both changes could be an indication that the currency fluctuations will continue in the coming hours.
Exchange rate today 03/27/2025 - 7:54 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 352 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 358 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 275 CUP.
Last week, the latest report from the Cuba Currency and Finance Observatory (OMFi) anticipated that the conditions were in place for an increase in the price of the dollar and the euro in informal exchange by the end of this month.
According to that analysis, by March 31, rates are expected to be around 350-360 CUP per 1 USD.
In the case of the euro, the estimated exchange rate by the end of the month is 352-362 CUP per 1 EUR, based on the central and maximum scenarios.
For MLC, rates of 270-260 CUP are expected in the central and minimum scenarios.
Nonetheless, the economist and principal researcher of the OMFi, Pavel Vidal, specified 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 any modifications that may arise in the sanctions policy of the Trump Administration".
Equivalencies of each available banknote of euros and U.S. dollars to Cuban pesos (CUP)
U.S. Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this March 27:
1 USD = 352 CUP.
5 USD = 1,760 CUP.
10 USD = 3,520 CUP.
20 USD = 7,040 CUP.
50 USD = 17,600 CUP.
100 USD = 35,200 CUP.
EUROS (EUR)
1 EUR = 358 CUP.
5 EUR = 1,790 CUP.
10 EUR = 3,580 CUP.
20 EUR = 7,160 CUP.
50 EUR = 17,900 CUP.
100 EUR = 35,800 CUP.
200 EUR = 71,600 CUP.
500 EUR = 179,000 CUP.
Cubans remain attentive to the informal exchange rates of the dollar, euro, and MLC because these determine their real purchasing power in an economy characterized by scarcity and inflation.
The volatility of exchange rates in Cuba causes many residents on the island to closely monitor the evolution of the informal market, seeking strategies to protect their purchasing power against the devaluation of the national currency.
Frequently Asked Questions about the Currency Market in Cuba
What are the current exchange rates for the dollar, the euro, and the MLC in Cuba?
At dawn on March 27, 2025, the exchange rate for the US dollar remains at 352 CUP, the euro rebounds to 358 CUP, and the Convertible Currency (MLC) is priced at 275 CUP. These figures are collected by the independent media outlet elToque.
Why is it important for Cubans to follow the informal foreign exchange market?
Cubans rely on exchange rates in the informal market to determine their real purchasing power due to scarcity and inflation in the economy. Access to foreign currency is crucial for obtaining essential products in stores that only accept foreign currency or for conducting transactions in the black market.
What factors can influence currency fluctuations in Cuba?
Exchange rates in Cuba are subject to various factors: announcements of economic policy by the Cuban Government, adjustments in regulatory frameworks for the private sector, and changes in market expectations. Additionally, the sanctions from the Trump Administration can also impact these fluctuations.
What is the trend of exchange rates towards the end of March 2025?
According to the Observatory of Currencies and Finances of Cuba (OMFi), rates are expected to be around 350-360 CUP for 1 USD and 352-362 CUP for 1 EUR by March 31. For the MLC, rates are anticipated to be 270-260 CUP in the central and minimum scenarios.
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