Dollars, euros, and MLC ended the month of March with no changes in price in informal buying and selling in Cuba.
According to the daily report from the independent outlet elToque, which tracks the ups and downs of the three reference currencies on the island, the values have remained stable for the second consecutive day.
The dollar remains at 355 CUP, the euro at 360, and the Freely Convertible Currency (MLC) is at 275 CUP.
Both the US dollar and the euro are ending the month within the forecast range set by the Observatorio de Monedas y Finanzas de Cuba (OMFi).
The latest report from the Cuban Currency and Finance Observatory (OMFi) indicated that conditions were set for an increase in the price of the dollar and the euro in the informal buying and selling by the end of this month.
Exchange Rate Evolution
According to that analysis, by March 31, rates were expected to be around 350-360 CUP for 1 USD.
In the case of the euro, the estimated rate by the end of the month is 352-362 CUP per 1 EUR, based on the central and maximum scenarios.
For the MLC, rates of 270-260 CUP were expected in the central and minimum scenarios.
Exchange rate today 03/31/2025 - 9:42 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 355 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 360 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 275 CUP.
Equivalencies of each available banknote in euros and US dollars to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of March 31:
1 USD = 355 CUP.
5 USD = 1,775 CUP.
10 USD = 3,550 CUP.
20 USD = 7,100 CUP.
50 USD = 17,750 CUP.
100 USD = 35,500 CUP.
EUROS (EUR)
1 EUR = 360 CUP.
5 EUR = 1,800 CUP.
10 EUR = 3,600 CUP.
20 EUR = 7,200 CUP.
50 EUR = 18,000 CUP.
100 EUR = 36,000 CUP.
200 EUR = 72,000 CUP.
500 EUR = 180,000 CUP.
Cubans closely monitor the informal exchange rate of the dollar, the euro, and the MLC because it determines their actual purchasing power in an economy marked by scarcity and inflation.
The volatility of exchange rates in Cuba leads 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 Currency Exchange in Cuba
What is the current exchange rate of the dollar in the informal market in Cuba?
The dollar is currently quoted at 355 CUP in the Cuban informal market. This value aligns with the projections of the Observatory of Currencies and Finance of Cuba (OMFi) for the end of March 2025.
What is the price of the euro in the informal Cuban market?
The euro is being sold for 360 CUP in the informal market. This value falls within the estimated forecast range by the OMFi for the end of March 2025.
What is the value of the Freely Convertible Currency (MLC) in Cuba?
The MLC is priced at 275 CUP in the informal market of Cuba, reflecting some stability compared to the fluctuations of previous months.
Why are Cubans paying attention to the informal currency market?
The volatility of exchange rates in Cuba directly affects the purchasing power of Cubans. Since salaries in Cuban pesos are insufficient to meet basic needs, citizens turn to foreign currencies to purchase essential products, making it crucial to closely monitor the developments in the informal market.
Filed under:
