On June 15th, the informal foreign exchange market in Cuba has started the day calmly, with no changes compared to the previous day's rates.
The dollar remains at 375 CUP per unit, despite the fact that this Saturday the selling price for the median was around 377 CUP, which has not yet been reached.
In the case of the euro, which has accumulated three consecutive days of record highs, it is still valued at 410 CUP today.
However, the median selling prices of the euro in recent hours point to an astronomical 415 CUP for sale. We'll have to see if they become consolidated or not.
Exchange Rate Evolution
The Freely Convertible Currency (MLC), for its part, continues to be sold today at 260 CUP.
An article published this week by the aforementioned independent media predicted - based on an analysis from the Observatory of Currencies and Finance of Cuba (OMFi) - that it is likely the currency market in the remainder of June will become "more active and uncertain" than in previous months, and that is indeed the case so far.
Exchange rate today 06/15/2025 - 10:48 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 375 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 410 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 260 CUP.
Projections for the remainder of June
The Cuba Currency and Finance Observatory (OMFi) has explained that in May there was a predominance of excess supply, and it anticipated that June could be dominated by excess demand, which would raise the exchange rate of currencies.
According to the OMFi forecasting models, the likely values for the exchange rate in Cuba as of June 30, 2025, would be as follows:
For the US dollar (USD), a central value of 385 Cuban pesos is projected, with a maximum value of 408 and a minimum of 365.
As for the euro (EUR), a central value of 406 Cuban pesos is estimated, with a maximum of 421 and a minimum of 385.
Finally, for the Freely Convertible Currency (MLC), the forecast indicates a central value of 274 Cuban pesos, reaching a maximum of 284 and a minimum of 260.
Frequently Asked Questions about the Foreign Exchange Market in Cuba
What is the current exchange rate for the dollar, euro, and MLC in the Cuban informal market?
The current exchange rate in the Cuban informal market is 375 CUP per dollar, 410 CUP per euro, and 260 CUP per MLC. These figures reflect the stability of the market in recent hours, although possible fluctuations are anticipated due to demand and other economic factors.
Why is it important to monitor the informal exchange rate in Cuba?
In Cuba, the informal exchange rate is crucial because it determines the real purchasing power of citizens in an economy marked by scarcity and inflation. The volatility of exchange rates forces Cubans to stay alert to fluctuations in order to protect their purchasing power and ensure access to essential products.
What are the projections for the foreign exchange market in Cuba by the end of June 2025?
The Observatory of Currencies and Finance of Cuba (OMFi) projects that by the end of June 2025, the dollar could reach a central value of 385 CUP, the euro 406 CUP, and the MLC 274 CUP. These forecasts suggest a potential increase in exchange rates due to excess demand in the market.
How does the instability of the foreign exchange market affect the Cuban economy?
The instability of the currency market in Cuba is causing an inflationary spiral that particularly affects those who rely on income in Cuban pesos. This situation increases the cost of goods and services, deepening economic inequalities and limiting access to essential products for those without access to foreign currencies.
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