The second consecutive day brings changes in Cuba's currency exchange scene as the U.S. dollar and the euro see a rise. As of 7:00 a.m. local time, the dollar trades on average at 374 CUP, marking a one-peso increase from the previous day. Meanwhile, the euro is up to 396 CUP, inching closer to the 400 mark, according to independent outlet elTOQUE. One currency that remains unchanged today is the Freely Convertible Currency (MLC), steady at 260 CUP after a sudden drop of five units last Thursday.
Exchange Rates as of June 6, 2025 - 7:51 a.m. in Cuba:
USD to CUP: 374 CUP
EUR to CUP: 396 CUP
MLC to CUP: 260 CUP
The Informal Market and ETECSA's "Rate Hike"
The informal currency market in Cuba has been relatively unresponsive to the social unrest sparked by ETECSA’s controversial rate increase. Although the dollar briefly climbed to 372 CUP the day after the announcement, it quickly settled back to 370 CUP. However, this trend of stability appears to be shifting. Currently, the median value for euro sales is projected to reach 400 CUP, approaching last year's record high. The dollar's median trading value is now estimated at 375 CUP.
Last week, Pavel Vidal, the chief economist at the Cuban Currency and Financial Observatory (OMFi), highlighted the volatility and susceptibility of Cuba’s unofficial exchange rates to speculative and political influences.
Currency Value Conversions
Here are the current conversions for available euro and U.S. dollar bills to Cuban pesos (CUP) based on today's exchange rates:
U.S. Dollar (USD) to Cuban Peso (CUP):
- 1 USD = 374 CUP
- 5 USD = 1,870 CUP
- 10 USD = 3,740 CUP
- 20 USD = 7,480 CUP
- 50 USD = 18,700 CUP
- 100 USD = 37,400 CUP
EURO (EUR) to Cuban Peso (CUP):
- 1 EUR = 396 CUP
- 5 EUR = 1,980 CUP
- 10 EUR = 3,960 CUP
- 20 EUR = 7,920 CUP
- 50 EUR = 19,800 CUP
- 100 EUR = 39,600 CUP
- 200 EUR = 79,200 CUP
- 500 EUR = 198,000 CUP
Recently, the OMFi announced a development in forecasting currency trends in Cuba’s informal market, particularly for the dollar. As reported by elTOQUE, the Observatory's methodology, which employs artificial intelligence and econometric models, boasts a 94% accuracy rate in predicting dollar values. Pavel Vidal, who leads the project, attributes the model’s success to the use of real-time data gathered from social media and digital platforms where dollars, euros, and MLC are traded. This approach has significantly reduced uncertainty surrounding street-level exchange rate movements in Cuba.
Understanding Cuba's Currency Dynamics
Why are the dollar and euro prices increasing in Cuba's black market?
The rise in dollar and euro prices is linked to market volatility and speculative activities, as well as political factors affecting Cuba's economic landscape.
How does the OMFi predict currency trends?
OMFi uses artificial intelligence and econometric models to analyze real-time data from social media and digital platforms, achieving a 94% accuracy in their forecasts.