As of this Friday, the exchange rates for foreign currencies in Cuba remain unchanged, according to the independent media outlet elToque. Despite the recent announcement of opening 50 new dollar-based stores aimed at boosting foreign currency transactions within the country, there has been no impact on the informal exchange rates.
The inauguration of President Donald Trump on January 20 hasn't yet influenced the currency trading scene in Cuba, where the situation has remained stable for several weeks. Notably, the three key currencies have not seen any fluctuations in value for 16 consecutive days. The US dollar remains at 340 CUP, marking 27 days without change. Similarly, the euro is also valued at 340 CUP, identical to the dollar. Meanwhile, the Freely Convertible Currency (MLC) stands at 240 CUP.
Exchange rates as of February 6, 2025, at 2:41 p.m. in Cuba are as follows: The USD to CUP rate, according to elToque, is 340 CUP. The EUR to CUP rate is also 340 CUP, and the MLC to CUP rate is 240 CUP. The median buying and selling values for dollars, euros, and MLC over the past 24 hours show no signs of change.
Many citizens are questioning what's happening, as they discuss the situation on social media. As usual, some users argue that the figures provided by elToque do not accurately reflect the real street-level situation.
Here are the current conversions for available euro and US dollar bills to Cuban pesos (CUP):
US 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 Current Exchange Rate Stability
Why haven't the exchange rates in Cuba changed recently?
The exchange rates have remained stable due to a combination of factors, including the lack of significant economic shifts affecting the demand and supply of foreign currencies within the informal market.
How do the new dollar stores impact Cuba's economy?
The new dollar stores aim to attract foreign currency, potentially increasing the circulation of dollars within the island's economy, though their full impact on exchange rates and purchasing power remains to be seen.