This Sunday morning, the Freely Convertible Currency (MLC) showed signs of recovery in Cuba's informal market, gaining five pesos after losing the same amount the previous day. As of 8:00 a.m. local time, this virtual currency, used by the Cuban regime in a dwindling number of stores, is trading at an average of 260 pesos, according to the independent media outlet elTOQUE.
Meanwhile, the U.S. dollar and the euro remain stable: the American currency is valued at 368 CUP, and the euro stands at 385 CUP, which is 17 pesos higher than the dollar.
Current Exchange Rates in Cuba: May 18, 2025
Today's exchange rates as reported by elTOQUE:
- USD to CUP: 368 CUP
- EUR to CUP: 385 CUP
- MLC to CUP: 260 CUP
Currency conversions for available euro and U.S. dollar notes to Cuban pesos (CUP) are as follows:
Conversion Rates
U.S. Dollar (USD) to Cuban Peso (CUP):
- 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
Euros (EUR) to Cuban Peso (CUP):
- 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
In a country where scarcity and inflation are prevalent, Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC, as these rates significantly impact their purchasing power. The fluctuating exchange rates in Cuba drive many residents to keep a vigilant eye on the informal market, seeking ways to safeguard their economic well-being against the devaluation of the national currency.
Understanding Currency Exchange in Cuba
How does the MLC affect Cubans' purchasing power?
The MLC plays a crucial role in Cubans' purchasing power because it is used in certain stores where essential goods are sold. Fluctuations in its value directly impact the cost of these goods.
Why is the informal exchange rate important in Cuba?
The informal exchange rate is critical because it reflects the real value of the currency in the market, influencing daily transactions and the cost of living for ordinary Cubans.
What strategies do Cubans use to protect their finances?
Cubans often track exchange rate trends closely and may convert their money into more stable currencies like the USD or EUR to protect against the devaluation of the CUP.