The euro started the day with a price increase in Cuba, according to the independent media elTOQUE in its daily report that documents the fluctuations of currencies in informal exchanges.
At 7:00 a.m. (local time) this Wednesday, the European currency surprises by suddenly rising five pesos, moving from 370 to 375 CUP.
The dollar remains at the 362 CUP it reached this Tuesday, but be aware, the median values for the last 24 hours of the U.S. currency indicate that the selling price has hovered around 365 for the second consecutive day, which could materialize as an increase in the coming hours.
The freely convertible currency (MLC), for its part, remains valued at 260 CUP.
Exchange rate today 04/16/2025 - 7:18 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 362 CUP.
Exchange Rate Evolution
Exchange rate of the euro EUR to CUP according to elTOQUE: 375 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 260 CUP.
Forecasts for the informal market for the remainder of April
elTOQUE through its Observatory of Currencies and Finances of Cuba (OMFi) has developed specific forecasts for the behavior of currencies in the informal market for the remainder of April.
A valuation of the dollar and the euro is expected to increase by between 2.5% and 4.8%, while the MLC could continue to decline to levels of 262 - 255 CUP for 1 MLC.
Instead, it is estimated that the dollar will be between 364 and 372 CUP, and the euro between 370 and 377 CUP.
These calculations reflect the increasing pressure on the MLC, whose purchasing power is eroding due to inflation and the market's preference for hard currency.
Equivalences 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 April 16:
1 USD = 362 CUP.
5 USD = 1,810 CUP.
10 USD = 3,620 CUP.
20 USD = 7,240 CUP.
50 USD = 18,100 CUP.
100 USD = 36,200 CUP.
EUROS (EUR)
1 EUR = 375 CUP.
5 EUR = 1.875 CUP.
10 EUR = 3,750 CUP.
20 EUR = 7,500 CUP.
50 EUR = 18,750 CUP.
100 EUR = 37,500 CUP.
200 EUR = 75,000 CUP.
500 EUR = 187,500 CUP.
Cubans are constantly attentive to 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 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 Informal Currency Market in Cuba
What is the current exchange rate of the euro in the Cuban informal market?
The current exchange rate of the euro in the Cuban informal market is 375 CUP, according to the report from elTOQUE dated April 16, 2025. This rate reflects a recent increase of five pesos compared to the previous day, indicating an upward trend in the value of the euro in Cuba.
How are the dollar and euro expected to evolve in Cuba's informal market?
It is expected that both the dollar and the euro will experience an appreciation of between 2.5% and 4.8% in the Cuban informal market for the remainder of April. The dollar could range between 364 and 372 CUP, while the euro could fluctuate between 370 and 377 CUP. These forecasts reflect the increasing pressure on the freely convertible currency (MLC), which may continue to decline.
What is the current situation of the freely convertible currency (MLC) in Cuba?
The Freely Convertible Currency (MLC) is currently valued at 260 CUP in the informal Cuban market. However, it is expected that its value will continue to decrease, possibly reaching levels between 262 and 255 CUP. The MLC is facing erosion in its purchasing power due to inflation and the market's preference for stronger currencies like the dollar and the euro.
Why is it important for Cubans to monitor informal exchange rates?
Monitoring informal exchange rates is crucial for Cubans because these determine their real purchasing power in an economy affected by scarcity and inflation. Since many essential products are only available in stores that operate in foreign currencies, citizens rely on fluctuations in the informal market to protect their purchasing power against the devaluation of the Cuban peso.
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