The Freely Convertible Currency (MLC) in Cuba is showing unexpected resilience, as reported by elTOQUE's daily update that tracks the fluctuations of foreign currencies on the island. As of the morning of April 24th, the MLC has climbed to 265 CUP, marking an increase of four pesos compared to the previous day.
Meanwhile, the U.S. dollar remains steady at 365 CUP, a rate it achieved last Saturday. The euro also holds its ground at 380 CUP, maintaining the value reached on April 23rd. The median value of these three key currencies over the past 24 hours indicates a rise in the average selling price of the dollar, a trend that may or may not persist in the coming hours.
Current Exchange Rates in Cuba
As of 10:37 a.m. on April 24, 2025, in Cuba, the exchange rates according to elTOQUE are as follows:
- U.S. Dollar (USD) to Cuban Peso (CUP): 365 CUP
- Euro (EUR) to CUP: 380 CUP
- MLC to CUP: 265 CUP
Currency Equivalencies
The following are the equivalencies for each denomination of euros and U.S. dollars to Cuban pesos (CUP) based on the exchange rates of April 24:
- 1 USD = 365 CUP
- 5 USD = 1,825 CUP
- 10 USD = 3,650 CUP
- 20 USD = 7,300 CUP
- 50 USD = 18,250 CUP
- 100 USD = 36,500 CUP
For EUROS (EUR):
- 1 EUR = 380 CUP
- 5 EUR = 1,900 CUP
- 10 EUR = 3,800 CUP
- 20 EUR = 7,600 CUP
- 50 EUR = 19,000 CUP
- 100 EUR = 38,000 CUP
- 200 EUR = 76,000 CUP
- 500 EUR = 190,000 CUP
Future Projections
Last week, elTOQUE's Cuban Currency and Finance Observatory (OMFi) shared a forecast regarding the behavior of foreign currencies in the informal market for the remainder of the month. They predict that the dollar and euro will appreciate by 2.5% to 4.8%, while the MLC might drop to levels between 262 and 255 CUP per 1 MLC.
The dollar is expected to range between 364 and 372 CUP, and the euro between 370 and 377 CUP. Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC as these rates significantly influence their actual purchasing power in an economy plagued by scarcity and inflation.
The instability of exchange rates in Cuba has led many island residents to keep a vigilant eye on the informal market's trends, seeking ways to shield their purchasing power from the depreciation of the national currency.
Frequently Asked Questions about Cuba's Currency Exchange
Why is the MLC increasing in value?
The rise in MLC value is attributed to market dynamics and the demand for foreign currency in Cuba's informal exchange markets.
How do changes in exchange rates affect Cubans?
Fluctuations in exchange rates directly impact the purchasing power of Cubans, as many goods are priced in foreign currencies and the national economy is heavily influenced by these rates.