The currency exchange landscape in Cuba's informal market remains steady. As of early Sunday morning, the three key currencies for informal trade on the island have shown no significant fluctuations for the fourth consecutive day, as reported by the independent outlet elToque, which monitors social media listings.
The U.S. dollar holds firm at 340 CUP, a rate it reached on January 11th. It has now been two weeks without any notable changes for the American currency. Similarly, the euro, after a sharp drop of five units on Wednesday, remains stable at 340 CUP, matching the dollar.
As for the Freely Convertible Currency (MLC), it continues to be valued at 240 CUP and has maintained this rate for 13 days. The exchange rates today, January 26, 2025, at 10:36 a.m. in Cuba are as follows:
- USD to CUP according to elToque: 340 CUP.
- EUR to CUP according to elToque: 340 CUP.
- MLC to CUP according to elToque: 240 CUP.
In general, these three benchmark currencies have exhibited a trend towards stability throughout the second half of January. However, the recent inauguration of Donald Trump as President of the United States and potential forthcoming policies regarding Cuba could soon alter the dynamics and trends within the island's informal currency market.
This week, a false statement attributed to the Trump administration went viral on social media. It falsely announced a supposed set of measures, including the suspension of remittances and direct commercial flights to Cuba. Additionally, it mentioned travel restrictions for Cuban residents in the U.S. and the deportation of Cuban citizens with deportation orders or ties to the repressive and ideological apparatus of the Cuban regime. Although the statement was fake, the anxiety over what might transpire in the upcoming days remains palpable.
Currency Conversion Equivalents for Available U.S. Dollar and Euro Bills to Cuban Pesos (CUP):
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: 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
Impact of U.S. Policies on Cuba's Informal Currency Market
How does the U.S. dollar's stability affect the Cuban informal market?
The stability of the U.S. dollar helps maintain consistent exchange rates, providing predictability for those engaging in informal currency exchanges in Cuba.
What could trigger changes in the Cuban informal currency market?
Changes in U.S. policies towards Cuba, such as restrictions on remittances or travel, could significantly impact the informal currency market by affecting the flow of foreign currency into the country.