As of Tuesday morning, the exchange rates for the U.S. dollar, euro, and Freely Convertible Currency (MLC) remain stable in Cuba's informal market. At 7:00 a.m. local time, the dollar remains valued at 370 CUP, the same as the previous day, according to the independent source elTOQUE. Similarly, the euro and MLC show no fluctuations, with the euro averaging 388 CUP and the MLC at 260 CUP.
Exchange Rates for May 20, 2025, at 7:00 a.m. in Cuba:
Dollar to CUP according to elTOQUE: 370 CUP.
Euro to CUP according to elTOQUE: 388 CUP.
MLC to CUP according to elTOQUE: 260 CUP.
Over the past 24 hours, some shifts have been noted in the median buying and selling prices: the euro's selling price has increased to 392 CUP, while the average buying price of the dollar has risen to 366 CUP.
Conversion Values for Euros and U.S. Dollars
Conversion rates for U.S. Dollar (USD) to Cuban Peso (CUP) on May 20:
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.
Conversion rates for Euros (EUR) to Cuban Peso (CUP):
1 EUR = 388 CUP.
5 EUR = 1,940 CUP.
10 EUR = 3,880 CUP.
20 EUR = 7,760 CUP.
50 EUR = 19,400 CUP.
100 EUR = 38,800 CUP.
200 EUR = 77,600 CUP.
500 EUR = 194,000 CUP.
Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC as these rates significantly impact their purchasing power in an economy riddled with scarcity and inflation. Given the instability of exchange rates in Cuba, many residents on the island vigilantly track the informal market's trends to devise strategies for safeguarding their purchasing power amidst the national currency’s devaluation.
Understanding Cuba's Informal Currency Market
Why do Cubans rely on the informal exchange market?
Cubans depend on the informal exchange market because it reflects more realistic values compared to official rates, directly affecting their purchasing power in a challenging economic environment.
What causes fluctuations in Cuba's informal exchange rates?
Fluctuations are mainly driven by demand and supply dynamics, economic instability, inflation, and government policies impacting the national currency's value.
How do exchange rates affect daily life in Cuba?
Exchange rates influence the cost of goods and services, impacting the affordability and accessibility of essential items for the average Cuban citizen.