Recently, the euro has continued its downward trajectory in Cuba's informal market, experiencing a further drop of two pesos. As of Thursday morning, the European currency is valued at 345 CUP, marking a swift decline from the 348 CUP it reached just two days ago. Meanwhile, the U.S. dollar remains steady at 345 CUP, a rate it has maintained since last weekend. The Freely Convertible Currency (MLC), after the upward trend noted in February, is currently stable at 285 CUP.
Exchange rates as of March 10, 2025, 10:37 a.m. in Cuba, according to elTOQUE, are as follows: The U.S. dollar is at 345 CUP, the euro matches it at 345 CUP, and the MLC stands at 285 CUP.
The fluctuating exchange rates in Cuba lead many locals to closely monitor the informal market, attempting to devise strategies to safeguard their purchasing power against the relentless devaluation of the CUP.
Here are the current conversion rates of U.S. dollars and euros to Cuban pesos (CUP), based on the exchange rates from March 6:
U.S. Dollar (USD) to Cuban Peso (CUP):
- 1 USD = 345 CUP
- 5 USD = 1,725 CUP
- 10 USD = 3,450 CUP
- 20 USD = 6,900 CUP
- 50 USD = 17,250 CUP
- 100 USD = 34,500 CUP
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 345 CUP
- 5 EUR = 1,725 CUP
- 10 EUR = 3,450 CUP
- 20 EUR = 6,900 CUP
- 50 EUR = 17,250 CUP
- 100 EUR = 34,500 CUP
Understanding Currency Fluctuations in Cuba
Why is the euro dropping in Cuba's black market?
The euro is declining due to a combination of global economic factors and local market conditions that influence supply and demand within Cuba's informal economy.
How do Cubans respond to changing exchange rates?
Cubans often turn to the informal market to track exchange rates closely, aiming to protect their financial stability by exchanging currencies at opportune moments.