The exchange rate for the U.S. dollar in Cuba holds steady at 340 CUP in the informal market, highlighting the continued devaluation of the Cuban peso against the American currency. This situation underscores the growing reliance of the Cuban population on the black market for currency exchange, as legal access to the dollar remains restricted due to the country's financial constraints.
Similarly, the euro is also valued at 340 CUP today. This parity with the dollar illustrates the impact of economic volatility in Cuba, where the demand for foreign currencies is rising to cover basic needs.
Meanwhile, the MLC (Freely Convertible Currency) is valued at 240 CUP, showing relative stability compared to stronger currencies. However, it remains influenced by the fluctuations of the informal market in Cuba and the lack of state supply for purchasing goods with this currency.
Exchange Rates in Cuba, Sunday, February 2, 2025 - 06:00
Exchange rate from U.S. Dollar (USD) to Cuban pesos CUP: 340 CUP
Exchange rate from Euro (EUR) to Cuban pesos CUP: 340 CUP
Exchange rate from MLC to Cuban pesos CUP: 240 CUP
CUP Equivalence for Common Dollar and Euro Denominations
Dollar (USD)
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)
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
200 EUR = 68,000 CUP
500 EUR = 170,000 CUP
Understanding Cuba's Informal Currency Market Dynamics
Why is the informal market for currencies so important in Cuba?
Due to strict financial restrictions and limited legal access to foreign currencies, Cubans increasingly depend on the informal market to meet their needs for dollars and euros.
What factors influence the exchange rates in Cuba's black market?
Exchange rates in the informal market are affected by economic volatility, demand for foreign currencies, and the lack of a stable state supply.