For the second consecutive day, the dollar has increased in price in the informal sale in Cuba, as reported by the independent media elTOQUE in the daily update that documents the fluctuations of currencies on the island.
At 7:00 a.m. (local Cuban time) this Friday, the U.S. dollar is being sold on the street for 393 CUP, which represents an increase of one peso compared to the value it reached on the previous day, when it rose by two units.
However, the median value places the sale of the dollar at 395, which could indicate that the upward trend will continue in the coming hours.
In the case of the other two currencies, there are no changes compared to the previous day: the euro remains rated at 440 pesos; and the freely convertible currency (MLC) is at 220 CUP.
Exchange Rate Evolution
Unusual data of the day: Are the dollar and the euro bought at a higher price than they are sold for in Cuba?
A very interesting piece of information from today’s report is that the median values for buying and selling over the last 24 hours, according to the monitoring conducted by elTOQUE, reveals a peculiar phenomenon: the prices at which the dollar and the euro are bought are rising, even surpassing the selling price.
The median purchase rate for the euro has risen to 442.50 CUP and for the dollar to 397, while the median selling rate for the euro remains at 440 CUP and for the US currency is at 395, as of the closure of this report.
What is the median of sales values?
The median of sales values published by elTOQUE represents the midpoint between the various offers reported by users and observers of the informal market in Cuba. Unlike the average, the median avoids distortions caused by extreme values and more accurately reflects the actual behavior of the most common transactions.
If the median purchase value is higher than the selling value, as is currently the case, it indicates an anomaly in market equilibrium: there is more urgency to acquire foreign currency than to sell it, which could suggest scarcity, speculation, or expectations of rapid devaluation of the Cuban peso.
Although elTOQUE has not communicated anything at the moment, the phenomenon could initially suggest an increased demand for foreign currency. A presumed shortage of dollars and euros among individuals might be forcing prices up for those urgently seeking to acquire them.
Another possible cause could be speculative movements; currency exchangers might be anticipating future increases and are looking to hoard now, raising the purchase price to attract sellers.
A third reason could be a stagnation due to a lack of transactions: Although sale prices are published, they may not reflect actual operations. Those who hold foreign currency prefer to keep it, waiting for a better opportunity.
Ultimately, this behavior serves as a barometer of economic anxiety in Cuba, where the peso continues to lose ground, while dollars and euros are increasingly becoming the refuge for those trying to protect their purchasing power.
Exchange rate today 01/08/2025 - 7:35 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 393 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 440 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 220 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this August 1st:
1 USD = 393 CUP.
5 USD = 1,965 CUP.
10 USD = 3,930 CUP.
20 USD = 7,860 CUP.
50 USD = 19,650 CUP.
100 USD = 39,300 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 440 CUP.
5 EUR = 2,200 CUP.
10 EUR = 4,400 CUP.
20 EUR = 8,800 CUP.
50 EUR = 22,000 CUP.
100 EUR = 44,000 CUP.
200 EUR = 88,000 CUP.
500 EUR = 220,000 CUP.
In the middle of this month, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of People's Power (ANPP) that a new "management, control, and currency allocation mechanism" will be implemented in the second half of 2025, as part of the so-called “Government Program to correct distortions and revitalize the economy.”
According to Marrero, the new model will include the transformation of the official exchange market, the consolidation of financing schemes, and the supposed more efficient redistribution of foreign currency generated by state-owned enterprises.
Meanwhile, the informal market continues to set the trend: the Cuban peso is worth less and less, and remittances from emigrants are the primary support for millions of households across the country.
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