In recent days, both the dollar and the euro have shown signs of entering a new upward trend within the Cuban informal market. This is a stark contrast to the trajectory of the Moneda Libremente Convertible (MLC), which is experiencing a downward shift. As of the morning of April 4th, the dollar has climbed to 360 CUP, marking a two-peso increase from the previous day. This marks the third consecutive day of rising value for the dollar.
The euro, on the other hand, remains stable today at 365 CUP, maintaining a five-unit lead over the dollar. However, a closer look at the median buy and sell values over the past 24 hours shows a general upward trajectory for both dollars and euros. Specifically, the euro's median value has risen to 367 CUP, suggesting a potential future increase in its price.
Meanwhile, the outlook for the MLC is less optimistic, as it has decreased to 270 CUP, two units less than its previous value.
Current Exchange Rates in Cuba
Exchange rates as of 7:30 a.m. on April 4, 2025, in Cuba are as follows according to elTOQUE:
USD to CUP: 360 CUP
EUR to CUP: 365 CUP
MLC to CUP: 270 CUP
Currency Conversion Equivalents
Conversion rates for each available bill of euros and U.S. dollars to Cuban pesos (CUP) are as follows:
U.S. Dollar (USD) to Cuban Peso (CUP):
- 1 USD = 360 CUP
- 5 USD = 1,800 CUP
- 10 USD = 3,600 CUP
- 20 USD = 7,200 CUP
- 50 USD = 18,000 CUP
- 100 USD = 36,000 CUP
Euros (EUR) to CUP:
- 1 EUR = 365 CUP
- 5 EUR = 1,825 CUP
- 10 EUR = 3,650 CUP
- 20 EUR = 7,300 CUP
- 50 EUR = 18,250 CUP
- 100 EUR = 36,500 CUP
- 200 EUR = 73,000 CUP
- 500 EUR = 182,500 CUP
Many Cubans closely monitor the informal exchange rates for the dollar, euro, and MLC, as these rates significantly impact their real purchasing power in an economy plagued by scarcity and inflation. The unpredictable nature of Cuba's exchange rates prompts residents to keep a vigilant eye on the informal market, seeking strategies to safeguard their purchasing power against the devaluation of the national currency.
Understanding the Cuban Currency Fluctuations
Why are the dollar and euro rising in Cuba's black market?
The increase in dollar and euro values in Cuba’s black market can be attributed to the scarcity of foreign currency and the demand from locals seeking to preserve their purchasing power amid economic instability.
How does the informal exchange rate affect Cubans?
The informal exchange rate impacts Cubans by determining their real purchasing power, as it dictates the cost of imported goods and services within an economy struggling with inflation and limited resources.