On Wednesday, May 7, the U.S. dollar (USD) is being exchanged at 370 Cuban pesos (CUP), according to the independent media outlet elTOQUE's monitoring. The greenback, which remains in high demand among Cubans both on and off the island, has held steady compared to previous days. It is one of the most significant currencies impacting the national economy.
Meanwhile, the euro (EUR) is valued at 380 CUP today, reflecting a decrease of five pesos from the previous day when it was at 385 pesos. Despite this decline, the euro remains the most valuable currency in the informal market. The euro's appreciation can be attributed to its limited availability and increased demand, especially for travel and international online shopping.
The Freely Convertible Currency (MLC), used in state-run stores, is stable at 260 CUP, with no significant changes recently. This steadiness contrasts with the volatile behavior of foreign currencies.
Over the past week, both the dollar and the euro have shown an upward trend, while the MLC has stayed unchanged. These fluctuations highlight the economic uncertainty and the increasing pressure of the informal market on personal finances in Cuba.
Informal Exchange Rates in Cuba: May 7, 2025
Exchange Rates:
Dollar (USD) to Cuban pesos: 370 CUP
Euro (EUR) to Cuban pesos: 380 CUP
Freely Convertible Currency (MLC) to Cuban pesos: 260 CUP
Equivalent in Cuban Pesos for Banknotes
Dollar (USD)
1 USD = 370 CUP
5 USD = 1,850 CUP
10 USD = 3,700 CUP
20 USD = 7,400 CUP
50 USD = 18,500 CUP
100 USD = 37,000 CUP
Euro (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 Currency Exchange Market
Why is the euro more valuable than the dollar in Cuba's informal market?
The euro's higher value is due to its scarcity and increased demand, particularly for international travel and purchases, which elevates its worth compared to the dollar.
What factors contribute to the stability of the MLC in Cuba?
The MLC's stability is largely because it is used exclusively in state-run stores, which are less influenced by the informal market dynamics affecting other currencies.
How do economic uncertainties impact currency exchange in Cuba?
Economic uncertainties lead to fluctuations in currency values, as people seek to protect their finances, causing increased demand and pressure on the informal market.