For the first time in several days, there is a sense of calm in the Cuban black market as the average selling rates for dollars, euros, and MLC show signs of complete stability. In the past hours, there have been no fluctuations in any of these three currencies, following a period of volatility during the first half of January.
As of the morning of January 16th, the U.S. dollar remains steady at 340 CUP, a price it has held for six consecutive days. The euro, which had been less stable over the past week, retains the previous day's value at 345 CUP, standing five units above the dollar. The Freely Convertible Currency (MLC) remains unchanged at 240 CUP for the fourth day in a row.
It remains to be seen whether this stability will continue or if it's merely a temporary adjustment in the informal exchange market activities.
Current Exchange Rates as of January 16, 2025 - 9:58 a.m. in Cuba
According to elTOQUE, the exchange rates are as follows:
- USD to CUP: 340 CUP
- EUR to CUP: 345 CUP
- MLC to CUP: 240 CUP
Currency Conversion for Available Euro and U.S. Dollar Bills
Here are the conversions from U.S. Dollars and Euros to Cuban Pesos based on today's rates:
U.S. Dollar (USD) to Cuban Peso (CUP):
- 1 USD = 340 CUP
- 5 USD = 1,700 CUP
- 10 USD = 3,400 CUP
- 20 USD = 6,800 CUP
- 50 USD = 17,000 CUP
- 100 USD = 34,000 CUP
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 345 CUP
- 5 EUR = 1,725 CUP
- 10 EUR = 3,450 CUP
- 20 EUR = 6,900 CUP
- 50 EUR = 17,250 CUP
- 100 EUR = 34,500 CUP
Questions About Cuba's Black Market Exchange Rates
Why are the exchange rates in Cuba's black market important?
These rates are crucial as they reflect the real demand and supply of foreign currencies in Cuba, often differing significantly from the official rates.
How do fluctuations in these rates affect Cubans?
Fluctuations impact the purchasing power of Cubans, as they affect the cost of imported goods and services, which are often priced in foreign currencies.