Following a series of turbulent days in Cuba's unofficial currency exchange market, this Friday sees the US dollar, euro, and Freely Convertible Currency (MLC) maintaining their average selling prices compared to the previous day, when MLC experienced a rise. As of 8:00 a.m. local Cuban time, the US dollar remains steady at 365 CUP, a rate it reached last week. The euro and MLC are also unchanged, averaging 380 CUP and 265 CUP, respectively.
For the second consecutive day, the median values of these three key currencies over the past 24 hours show an increase in the average selling price of the dollar, a trend that may or may not persist in the coming hours. The median value indicates the dollar is being sold at 367 CUP.
Exchange Rates for April 25, 2025 - 8:27 a.m. in Cuba:
- USD to CUP according to elTOQUE: 365 CUP.
- EUR to CUP according to elTOQUE: 380 CUP.
- MLC to CUP according to elTOQUE: 265 CUP.
Conversion of available euro and US dollar notes to Cuban pesos (CUP):
US Dollar (USD) to Cuban Peso (CUP), based on April 25 rates:
- 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
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
Last week, elTOQUE's Cuba Currency and Finance Observatory (OMFi) released a forecast on the behavior of foreign currencies in the informal market for the remainder of the month. According to their analysis, the dollar and the euro are expected to appreciate between 2.5% and 4.8%, while the MLC may drop to levels between 262 and 255 CUP per MLC. Projections suggest the dollar could range from 364 to 372 CUP, and the euro from 370 to 377 CUP.
In a country plagued by scarcity and inflation, Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC, as these directly impact their real purchasing power. The ever-changing exchange rates in Cuba compel many island residents to keep a vigilant eye on the informal market, seeking strategies to safeguard their purchasing power amid the national currency's devaluation.
Understanding Cuba's Informal Currency Market
Why do Cubans follow the informal currency exchange rates closely?
Cubans monitor the informal exchange rates because these determine their actual purchasing power in an economy characterized by scarcity and inflation.
What is the projected movement for the USD and EUR in Cuba's informal market?
The USD and EUR are expected to appreciate between 2.5% and 4.8%, while MLC might decrease to between 262 and 255 CUP per MLC.