After several days of stability, in the last few hours, two of the three reference currencies in Cuba have decreased in value, marking a setback in their average selling prices in the informal market, as revealed by the independent media elTOQUE.
The dollar has dropped to 368 CUP, two pesos less compared to the 370 pesos it was selling for since May 3.
The other decline is in the Freely Convertible Currency (MLC), which decreased by five units and falls to 355 CUP.
The euro, for its part, continues to be quoted at 385 CUP, which currently represents an advantage of 17 pesos compared to the US dollar.
The median values of currency exchange over the last 24 hours shows an increase in the sale of the euro to 390 CUP, a rise that could solidify, or not, in the coming hours.
Exchange Rate Evolution
Exchange rate today 05/17/2025 - 6:55 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 368 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 385 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 255 CUP.
Equivalencies of each available euro and US dollar banknote to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this May 17:
1 USD = 368 CUP.
5 USD = 1,840 CUP.
10 USD = 3,680 CUP.
20 USD = 7,360 CUP.
50 USD = 18,400 CUP.
100 USD = 36,800 CUP.
EUROS (EUR)
1 EUR = 385 CUP.
5 EUR = 1,925 CUP.
10 EUR = 3,850 CUP.
20 EUR = 7,700 CUP.
50 EUR = 19,250 CUP.
100 EUR = 38,500 CUP.
200 EUR = 77,000 CUP.
500 EUR = 192,500 CUP.
Cubans are constantly watching the informal exchange rate of the dollar, the euro, and the MLC because it determines their real purchasing power in an economy characterized by scarcity and inflation.
The volatility of exchange rates in Cuba leads many residents of the island to closely monitor the evolution of the informal market, in search of 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 situation of the informal currency market in Cuba?
Recently, the exchange rates for the dollar and the MLC have decreased, while the euro remains stable. Currently, the dollar is priced at 368 CUP, the MLC at 355 CUP, and the euro at 385 CUP, showing a slight decline in the first two compared to previous values. This volatility in the informal market reflects the efforts of Cubans to protect their purchasing power amid inflation and scarcity.
How does the volatility of the informal currency market affect Cubans?
The volatility of the informal currency market directly impacts the purchasing power of Cubans, who rely on access to foreign currency to acquire essential goods due to the inadequacy of wages and pensions in Cuban pesos. This situation has led citizens to closely monitor exchange rate fluctuations to make important economic decisions.
Why is it important to follow the informal currency market in Cuba?
In Cuba, tracking the informal currency market is crucial due to its direct influence on the purchasing power of citizens. The devaluation of the Cuban peso against currencies like the dollar and euro has created an inflationary spiral that impacts those who rely on income in national currency. For this reason, Cubans consistently monitor exchange rates to safeguard their savings and plan their expenses.
What has been the recent trend of the MLC in the Cuban informal market?
The Freely Convertible Currency (MLC) has shown a downward trend in recent weeks. After an increase in its value in February, the MLC has been declining, recently dropping to 355 CUP. This decrease reflects the economic instability and the quest of Cubans for alternatives to preserve their purchasing power.
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