After a period of relative calm, two of the three major reference currencies in Cuba have recently experienced a decrease in value on the informal exchange market, as reported by the independent outlet, elTOQUE. The US dollar has dropped to 368 CUP, a reduction of two pesos from its previous trading price of 370 pesos since May 3rd. Meanwhile, the Freely Convertible Currency (MLC) has fallen by five units, now standing at 355 CUP. In contrast, the euro remains steady at 385 CUP, currently offering a 17-peso advantage over the American dollar.
The median buying and selling values of these currencies over the past 24 hours indicate a rise in the euro's selling price to 390 CUP. This increase may either stabilize or fluctuate in the coming hours.
Current Exchange Rates as of May 17, 2025, 6:55 a.m. in Cuba
The latest exchange rates, according to elTOQUE, are as follows:
- USD to CUP: 368 CUP
- EUR to CUP: 385 CUP
- MLC to CUP: 355 CUP
Currency Conversion Equivalents
For those dealing with cash, here are the equivalent amounts for each denomination:
US Dollar (USD) to Cuban Peso (CUP) based on the exchange rates of May 17:
- 1 USD = 368 CUP
- 5 USD = 1,840 CUP
- 10 USD = 3,680 CUP
- 20 USD = 7,360 CUP
- 50 USD = 18,400 CUP
- 100 USD = 36,800 CUP
EURO (EUR)
- 1 EUR = 385 CUP
- 5 EUR = 1,925 CUP
- 10 EUR = 3,850 CUP
- 20 EUR = 7,700 CUP
- 50 EUR = 19,250 CUP
- 100 EUR = 38,500 CUP
- 200 EUR = 77,000 CUP
- 500 EUR = 192,500 CUP
Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC as these significantly impact their purchasing power in an economy characterized by scarcity and inflation. Due to the volatile nature of exchange rates in Cuba, many residents keep a vigilant eye on the informal market, seeking strategies to safeguard their purchasing power amid the ongoing devaluation of the national currency.
Understanding Cuba's Currency Fluctuations
Why are Cubans focused on the informal exchange rates?
Cubans rely on informal exchange rates of the dollar, euro, and MLC to gauge their real purchasing power due to the scarcity and inflation affecting the economy.
How have the exchange rates changed recently?
Recently, the US dollar dropped to 368 CUP, the MLC fell to 355 CUP, while the euro remained at 385 CUP, showing a shift in the informal market.
What impact does currency volatility have on Cuban citizens?
Currency volatility directly affects the purchasing power of Cuban citizens, making it crucial for them to track market changes to protect their financial stability.