The informal exchange rates for foreign currencies are experiencing a period of stability in Cuba, as reported by the independent outlet elToque. As of now, the recent transition of President Donald Trump to the White House has not impacted Cuba's informal currency market.
The U.S. dollar remains valued at 340 CUP, marking a stretch of 26 days without fluctuation. Similarly, the euro is holding steady at 340 CUP, matching the dollar. In terms of the Freely Convertible Currency (MLC), it continues to be valued at 240 CUP.
Over the past 24 hours, there have been no indications of changes in the median buying and selling rates for dollars, euros, and MLC. This Thursday marks 15 consecutive days without any increase or decrease in these reference currencies' values. Many citizens are questioning why this is the case on social media. However, some online users argue that the figures provided by elToque may not accurately represent the street-level reality.
Current Exchange Rates as of February 6, 2025, 2:41 p.m. in Cuba
According to elToque, the exchange rate for the U.S. dollar (USD) to Cuban Peso (CUP) stands at 340 CUP. The euro (EUR) also remains at 340 CUP, and the MLC is valued at 240 CUP.
Currency Conversion Values
Here are the equivalent values for various denominations of euros and U.S. dollars to Cuban pesos (CUP) based on today's exchange 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 = 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
The recent announcement by the U.S. government regarding the addition of Orbit S.A. to the List of Restricted Entities has not yet affected Cuba's informal currency market. Orbit S.A. was considered a viable option for remittance processing after Fincimex S.A. exited the business due to sanctions imposed by the U.S. Treasury Department.
Understanding Cuba's Informal Currency Market
Why are the exchange rates in Cuba's informal market stable?
The stability in exchange rates may be due to a combination of economic conditions and market controls, though specific reasons are not clear, leading to speculation among citizens.
What impact does the U.S. government's actions have on Cuba's currency market?
While the inclusion of Orbit S.A. on the Restricted Entities List has not yet affected the market, such actions could potentially influence remittance channels and currency availability in the future.