The U.S. dollar remains a key player in Cuba's informal market, currently exchanged at a rate of 340 Cuban pesos per dollar. This rate underscores the high demand for foreign currencies amid the country's economic hardships and exchange restrictions. The dollar's rate serves as a crucial indicator of Cuba's financial landscape.
Similarly, the euro holds steady at the same exchange rate of 340 Cuban pesos per euro. This parity between the two foreign currencies reflects a relative stability in the black market, although fluctuations are influenced by supply and consumer needs.
Meanwhile, the Freely Convertible Currency (MLC) is traded at 240 Cuban pesos, making it the most affordable option among the major currencies. This lower rate indicates a reduced demand compared to the dollar and euro, yet it remains essential for purchases in state-run stores.
Current Exchange Rates in Cuba
Date: Tuesday, January 28, 2025 - 07:00 AM
Exchange Rate for USD to Cuban Pesos (CUP): 340 CUP
Exchange Rate for EUR to Cuban Pesos (CUP): 340 CUP
Exchange Rate for MLC to Cuban Pesos (CUP): 240 CUP
Currency Denominations and Their Cuban Peso Equivalents
Dollar (USD)
$1 = 340 CUP
$5 = 1,700 CUP
$10 = 3,400 CUP
$20 = 6,800 CUP
$50 = 17,000 CUP
$100 = 34,000 CUP
Euro (EUR)
€1 = 340 CUP
€5 = 1,700 CUP
€10 = 3,400 CUP
€20 = 6,800 CUP
€50 = 17,000 CUP
€100 = 34,000 CUP
Frequently Asked Questions About Currency Exchange in Cuba
Why is the U.S. dollar rate significant in Cuba's informal market?
The U.S. dollar rate is significant because it reflects the country's economic conditions and is crucial for many transactions, especially in a context with limited access to foreign currencies.
What factors influence the fluctuation of currency rates in Cuba?
Currency rates in Cuba fluctuate based on the availability of foreign currencies and the specific needs of consumers, alongside broader economic conditions and government regulations.