This Thursday morning commenced with notable fluctuations in the informal exchange rates of two out of the three key currencies in Cuba: the euro experienced an increase, while the Freely Convertible Currency (MLC) saw a decline. By 7:00 a.m. local time, the selling average for the euro rose to 367 CUP, marking a two-peso increase from the previous day.
Conversely, the MLC experienced a slight drop, moving from 263 to 262 CUP. Meanwhile, the dollar remained stable throughout the day, holding steady at 360 CUP.
Analyzing the buying and selling median values of these three currencies over the past 24 hours reveals a trend of rising costs for purchasing euros and dollars, coupled with a decrease in MLC sales. This may indicate a continued downward trend for the virtual currency in the near future.
Current Exchange Rates in Cuba
As of April 10, 2025, at 7:52 a.m., the exchange rates in Cuba stand as follows:
Dollar (USD) to Cuban Peso (CUP) according to elTOQUE: 360 CUP.
Euro (EUR) to Cuban Peso (CUP) according to elTOQUE: 367 CUP.
MLC to Cuban Peso (CUP) according to elTOQUE: 262 CUP.
Currency Equivalents
The conversion rates for euro and US dollar bills to Cuban pesos (CUP) are as follows:
US Dollar (USD) to Cuban Peso (CUP), based on April 10 exchange rates:
- 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)
- 1 EUR = 367 CUP
- 5 EUR = 1,830 CUP
- 10 EUR = 3,660 CUP
- 20 EUR = 7,320 CUP
- 50 EUR = 18,300 CUP
- 100 EUR = 36,600 CUP
- 200 EUR = 73,200 CUP
- 500 EUR = 183,000 CUP
In the face of rampant scarcity and inflation, Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC, as these heavily influence their actual purchasing power. The unpredictable nature of Cuba's exchange rates prompts many island residents to meticulously track market trends, seeking ways to safeguard their economic stability against the devaluation of their national currency.
Understanding Cuba's Informal Currency Exchange
Why do Cubans follow the informal exchange rates closely?
Cubans track informal exchange rates because they directly affect their real purchasing power in an economy plagued by scarcity and inflation.
What are the current unofficial exchange rates for major currencies in Cuba?
As of April 10, 2025, the unofficial rates are: 360 CUP for the USD, 367 CUP for the euro, and 262 CUP for the MLC.
How do fluctuations in the euro and MLC affect Cuban residents?
Changes in these currencies' values can impact the cost of goods and services, influencing how Cubans manage their finances and protect their economic well-being.