As of Saturday morning, the exchange rates of foreign currencies in Cuba's informal market remain steady for the third consecutive day, according to independent news outlet elToque, which monitors social media postings. The U.S. dollar holds firm at 340 CUP, a rate it reached on January 11 and has maintained without significant changes for two weeks.
The euro, having dropped five units earlier this week on Wednesday, also remains unchanged today, mirroring the dollar at 340 CUP. Meanwhile, the Freely Convertible Currency (MLC) is valued at 240 CUP, maintaining this rate for 12 consecutive days.
Exchange rates as of January 25, 2025, 10:41 a.m. in Cuba are as follows: the USD to CUP rate according to elToque is 340 CUP, the EUR to CUP rate is 340 CUP, and the MLC to CUP rate is 240 CUP.
Currency Stability Amid Political Uncertainty
Overall, the three main currencies have shown a trend toward stability during the second half of January. However, the recent inauguration of Donald Trump as President of the United States and potential policy changes concerning Cuba could soon disrupt the informal currency market on the island.
This week, a fake statement attributed to the Trump administration went viral on social media. It falsely announced a set of measures including the suspension of remittances and direct commercial flights to Cuba, travel restrictions for Cuban residents in the U.S., and the deportation of Cuban nationals with deportation orders or ties to the Cuban regime's repressive and ideological apparatus. Although this statement is false, the tension over possible developments in the coming days remains high.
Currency Breakdown: USD and EUR to CUP
Here are the current equivalents for each available denomination of U.S. dollars and euros to Cuban pesos (CUP) as of January 25:
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):
- 1 EUR = 340 CUP
- 5 EUR = 1,700 CUP
- 10 EUR = 3,400 CUP
- 20 EUR = 6,800 CUP
- 50 EUR = 17,000 CUP
- 100 EUR = 34,000 CUP
Understanding Cuba's Currency Market
Why has the dollar remained stable in Cuba recently?
The dollar has remained stable at 340 CUP due to consistent demand and limited market fluctuations, despite potential political influences from the U.S.
What impact could Trump's presidency have on Cuba's currency market?
Trump's presidency could introduce new policies affecting remittances and travel between the U.S. and Cuba, potentially destabilizing Cuba's currency market.
How can Cubans verify the accuracy of currency exchange rates?
Cubans can verify exchange rates by consulting reliable sources like elToque, which provides regular updates based on social media monitoring.