The dollar is rising in price this Friday for the second time this week.
At dawn on March 28, the US dollar is selling for an average of 353 CUP, one peso more than the value it had since Wednesday.
However, a look at the median selling prices over the last 24 hours shows an increase to 355 for the dollar, a trend that suggests the U.S. currency may continue to rise in the coming hours.
In the case of the euro, the European currency is currently holding at 358 pesos, a price that was reached this Thursday.
The Freely Convertible Currency (MLC), for its part, remains valued at 275 CUP. After a February filled with spikes, the MLC has slightly contracted in recent weeks, according to monitoring by the independent media elToque of the fluctuations of reference currencies in Cuba.
Exchange Rate Evolution
Exchange rate today 03/28/2025 - 8:47 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 353 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.
Equivalencies of each available bill in euros and US dollars to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for this March 28:
1 USD = 353 CUP.
5 USD = 1,765 CUP.
10 USD = 3,530 CUP.
20 USD = 7,060 CUP.
50 USD = 17,650 CUP.
100 USD = 35,300 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.
Last week, the latest report from the Cuban Currency and Finance Observatory (OMFi) predicted that conditions were in place for an increase in the price of the dollar and euro in the informal buying and selling 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 towards the end of the month is 352-362 CUP per 1 EUR, in both the central and maximum scenarios.
At the moment, the euro is much closer to the estimated maximum value of 360 than the dollar, which currently stands at 353 in a projected scenario of 362 CUP.
For the MLC, rates of 270-260 CUP are expected in the central and minimum scenarios.
However, the economist and principal researcher of OMFi, Pavel Vidal, clarified that the forecasts were subject to new announcements regarding economic policy from the Cuban government and any changes that may arise in the sanctions policy of the Trump Administration.
Cubans are closely watching the unofficial exchange rates of the dollar, euro, and MLC because this determines their real purchasing power in an economy characterized by scarcity and inflation.
The volatility of exchange rates in Cuba leads many residents on the island to closely monitor the developments of the informal market, seeking strategies to protect their purchasing power against the devaluation of the national currency.
Frequently Asked Questions About the Increase in the Dollar Price in the Cuban Black Market
Why has the price of the dollar increased in the Cuban black market?
The price of the dollar has increased due to the high demand for foreign currency in Cuba, which has become a necessity to acquire essential products in an economic context marked by scarcity and inflation. The constant devaluation of the Cuban peso against foreign currencies such as the dollar and the euro also contributes to this phenomenon.
What is the current price of the dollar on the Cuban black market?
Currently, the dollar is being sold for an average of 353 CUP in the Cuban black market. This figure represents an increase compared to previous days and may continue to rise according to recent trends.
How does the rise of the dollar affect the purchasing power of Cubans?
The rise of the dollar negatively affects the purchasing power of Cubans because most essential products are only available in foreign currency. This means that, with the increase in the dollar, Cubans need more Cuban pesos to purchase the same products, further complicating their economic situation.
What predictions are there for the value of the dollar by the end of March?
According to the Observatory of Currencies and Finance of Cuba (OMFi), it is expected that the dollar could reach rates of around 350-360 CUP by the end of March. These predictions are subject to changes based on new announcements regarding economic policy from the Cuban government.
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