This Friday, May 9, the value of the U.S. dollar (USD) remains steady at 370 Cuban pesos (CUP) in Cuba's informal market, according to the daily exchange rate monitoring by the independent outlet elTOQUE. The dollar's rate has shown stability in recent days despite an economy heavily impacted by foreign currency shortages, the devaluation of the Cuban peso, and rising prices.
Meanwhile, the euro (EUR) is holding firm at 385 CUP, continuing to be the most expensive currency on the informal market. Although there have been minor fluctuations recently, the European currency maintains its lead over the dollar, driven by its limited availability in the country.
The most notable shift today involves the Freely Convertible Currency (MLC), which has increased by five pesos compared to the previous day, now standing at 265 CUP. This currency, primarily used in state-run stores for purchasing essential goods, remains a crucial benchmark for many domestic transactions, despite its absence from official banking circuits.
Informal Exchange Rates in Cuba – Friday, May 9, 2025
- Dollar (USD): 370 CUP
- Euro (EUR): 385 CUP
- MLC: 265 CUP
Understanding Cuba's Informal Currency Market
Why is the euro more expensive than the dollar in Cuba's informal market?
The euro is more costly than the dollar in Cuba's informal market due to its limited availability, making it a rarer and thus more valuable currency.
What role does the MLC play in Cuba's economy?
The MLC is vital for purchasing essential goods in state-owned stores, serving as a key currency for domestic transactions despite not being legally used outside the official banking system.