The U.S. dollar (USD) continues to exhibit a strong performance in Cuba's informal market, with rates hitting 365 pesos (CUP) this Sunday, April 27, 2025. This persistent high value underscores the ongoing pressure on the national currency, driven by the intense demand for foreign exchange in daily transactions and the limited availability in state-run exchange offices.
Additionally, the euro (EUR) has reached an even higher value, standing at 380 CUP. The European currency remains a preferred option for those looking to safeguard their purchasing power against rising inflation and economic uncertainty on the island.
Meanwhile, the Freely Convertible Currency (MLC), primarily used in foreign currency stores, is valued at 265 CUP. Although it has lost some prominence compared to the dollar and the euro, the MLC remains essential for accessing essential goods.
Overall, the informal currency market in Cuba continues to show a trend of increasing costs, reflecting the deep-seated economic crisis and the unstable exchange rate environment the country is facing.
Informal Exchange Rate in Cuba, Sunday, April 27, 2025 - 06:00
Exchange Rate for U.S. Dollar (USD) to Cuban Pesos (CUP): 365 CUP
Exchange Rate for Euro (EUR) to Cuban Pesos (CUP): 380 CUP
Exchange Rate for Freely Convertible Currency (MLC) to Cuban Pesos (CUP): 265 CUP
Currency Conversion to Cuban Pesos (CUP)
Dollar Bills (USD):
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
Euro Bills (EUR):
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
Understanding Cuba's Informal Exchange Market
Why are foreign currencies in high demand in Cuba?
Foreign currencies are in high demand due to the scarcity of goods and services, inflation, and economic instability, which drive residents to seek stable currencies to preserve their purchasing power.
How does the informal market affect Cuba's economy?
The informal market can exacerbate economic instability by creating parallel exchange rates that reflect a lack of confidence in the official economy, leading to further inflation and currency devaluation.
What impact does the exchange rate have on everyday life in Cuba?
Exchange rates heavily impact daily life by affecting the prices of imported goods, access to essential items, and overall cost of living, making it challenging for citizens to meet basic needs.