This Monday morning, the informal currency market in Cuba is experiencing a period of stability that began over the weekend. The rates for the U.S. dollar, euro, and Freely Convertible Currency (MLC) have remained unchanged since Friday. The dollar stands at 360 CUP, the euro at 370 CUP, and the MLC at 260 CUP.
However, reports from the independent outlet elToque suggest that the U.S. dollar might experience an increase soon. The median buying and selling value over the past 24 hours is currently at 363 CUP, indicating a possible rise of three pesos.
Exchange Rates as of April 14, 2025 - 8:05 a.m. in Cuba:
USD to CUP rate according to elTOQUE: 360 CUP.
EUR to CUP rate according to elTOQUE: 370 CUP.
MLC to CUP rate according to elTOQUE: 260 CUP.
Currency Conversion: From USD and EUR to Cuban Pesos
The following are the equivalents for each available banknote in U.S. dollars and euros converted to Cuban pesos (CUP) based on exchange rates as of April 14:
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):
- 1 EUR = 370 CUP
- 5 EUR = 1,850 CUP
- 10 EUR = 3,700 CUP
- 20 EUR = 7,400 CUP
- 50 EUR = 18,500 CUP
- 100 EUR = 37,000 CUP
- 200 EUR = 74,000 CUP
- 500 EUR = 185,000 CUP
In Cuba, citizens closely monitor the informal exchange rates for the dollar, euro, and MLC because these rates directly influence their actual purchasing power in an economy plagued by shortages and inflation.
The constant fluctuations in exchange rates on the island motivate many residents to keep a vigilant eye on the informal market, seeking ways to safeguard their purchasing power against the devaluation of the national currency.
Understanding Cuba's Informal Currency Market
Why do Cubans follow the informal exchange rate?
Cubans track the informal exchange rate because it reflects their real purchasing power in an economy affected by scarcity and inflation, affecting their day-to-day financial decisions.
What factors influence currency fluctuations in Cuba?
Currency fluctuations in Cuba are often influenced by economic policies, supply and demand dynamics in the informal market, and external economic pressures.