The informal currency market in Cuba recorded a slight increase in the euro this Saturday, March 29, rising from 358 to 360 Cuban pesos (CUP) per unit. This represents a 2 CUP increase compared to the previous day, in a context marked by a growing demand for this European currency.
For its part, the United States dollar (USD) remained unchanged, retaining the same value of 355 CUP it had on Friday. The Freely Convertible Currency (MLC) also remained stable at 275 CUP, according to the daily monitoring conducted by CiberCuba.
Exchange rate in Cuba Saturday, March 29, 2025 - 06:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 355 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 360 CUP
- Exchange rate of (MLC) to Cuban pesos CUP: 275 CUP
Although the variation of the euro may seem minimal, it is part of a trend that, with fluctuations, has led it to gain ground against the Cuban peso in recent weeks, while the dollar shows signs of stagnation.
One of the factors that may be driving this trend is the growing interest among Cubans in emigrating to Europe, particularly to Spain, in response to the recent immigration restrictions imposed by the United States.
Exchange Rate Evolution
In recent days, the U.S. government began notifying the revocation of legal status for Cuban beneficiaries of humanitarian parole, and also proceeded to revoke their work permits, creating a climate of uncertainty for those who enrolled in that program.
This shift in Washington's immigration policy has led many Cubans to consider Spain as an alternative destination, both for cultural ties and for the existing legal facilitation. According to official data, more than 53,000 Cubans arrived in Spain between 2023 and 2024 (not including data from the last quarter of 2024), solidifying a growing migration route.
Furthermore, the Law of Democratic Memory, known as the "grandchildren's law", has extended the deadline for processing Spanish citizenship, allowing thousands of descendants of Spaniards in Cuba to begin this process at a time when the immigration policies of the Trump administration are becoming more restrictive.
All of this could be driving an increased demand for euros in the informal market, which in turn directly influences its price.
CiberCuba will continue to report daily on the developments in the currency market, which are crucial for understanding many of the economic and migratory decisions that shape the lives of Cubans.
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