The Cuban informal market remains unsettled.
At dawn this Friday, it is the Freely Convertible Currency (MLC), which many believe is destined to disappear soon, that makes a leap of five pesos and
The dollar and the euro, according to the values reached this Thursday: the American currency remains valued at 370 CUP and the European at 390.
As for the median values recorded in recent hours, the table published by elTOQUE confirms the instability of the currencies, which has been trending in recent days.
Exchange Rate Evolution
An interesting fact is that, according to the median values of the last 24 hours, the euro is reaching an average selling price of 395 CUP. We will have to wait to see if this increase consolidates in the coming hours or not.
Exchange rate today 05/23/2025 - 7:00 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 370 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 390 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 265 CUP.
Forecast for the informal currency market in Cuba for the remainder of the month
According to the latest report published by the Observatory of Currencies and Finances of Cuba (OMFi), in recent days, the dollar and the euro have risen with relative stability, although it is expected that they may stagnate due to a trend of increased willingness to sell, which has already been observed since early May.
"The temporary excess supply of dollars in the market could interrupt the rise that the US currency has been experiencing since March," warned Cuban economist Pavel Vidal, who is based in Colombia, in the report.
Your predictions for the end of this month are around 357-368 pesos per dollar and 372-383 pesos per euro, while the MLC could be around 255-265 pesos.
Despite the slight slowdown that is anticipated, the report indicates that dollarization is behind the "increased appetite for the U.S. dollar."
The document elaborated on the delicate nature of this trend, which can have serious consequences for citizens, including the increase in prices of products offered by many private businesses that import in foreign currency and then sell in pesos, leading to higher prices to achieve profits.
Another disastrous consequence of the expansion of dollar consumption is that it deepens the divide between those who have access to foreign currency and those who do not.
In the midst of this situation, exacerbated by the constant and prolonged blackouts, the expert advises citizens who have access to foreign currency to do their best to hold onto it, while not neglecting the national currency.
Equivalences 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 on this May 23:
USD 1 = 370 CUP.
USD 5 = 1850 CUP.
USD 10 = 3700 CUP.
USD 20 = 7400 CUP.
USD 50 = 18,500 CUP.
USD 100 = 37,000 CUP.
EUROS (EUR)
EUR 1 = 390.
EUR 5 = 1950 CUP.
EUR 10 = 3900 CUP.
EUR 20 = 7800 CUP.
EUR 50 = 19,500 CUP.
EUR 100 = 39,000 CUP.
EUR 200 = 78,000 CUP.
Cubans closely watch the informal 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.
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