On June 15th, Cuba's informal currency market has opened without any fluctuations compared to the previous day's rates. The US dollar remains steady at 375 CUP per unit, despite a predicted rise to 377 CUP over the weekend that has yet to materialize. As for the euro, after three consecutive days of record highs, it is still valued at 410 CUP. However, recent buying and selling median values suggest a potential increase to an astronomical 415 CUP. Whether this rate will solidify remains to be seen.
The Freely Convertible Currency (MLC) continues to be traded at 260 CUP. An article from an independent media source, based on an analysis by the Cuban Observatory of Currencies and Finances (OMFi), predicted that the currency market might become "more volatile and unpredictable" during the remainder of June, a trend that is currently unfolding.
Exchange rates as of 10:48 a.m. on 06/15/2025 in Cuba:
USD to CUP according to elTOQUE: 375 CUP.
EUR to CUP according to elTOQUE: 410 CUP.
MLC to CUP according to elTOQUE: 260 CUP.
Predictions for the Remainder of June
The Cuban Observatory of Currencies and Finances (OMFi) has noted that May was characterized by an excess of supply. They have predicted that June might experience an increased demand, which could drive up currency values. According to OMFi's forecasting models, the probable exchange rates in Cuba by June 30, 2025, are as follows:
- The predicted central value for the US dollar (USD) is 385 Cuban pesos, with a maximum of 408 and a minimum of 365.
- For the euro (EUR), a central value of 406 Cuban pesos is estimated, with a peak at 421 and a low of 385.
- Finally, the Freely Convertible Currency (MLC) is forecasted to have a central value of 274 Cuban pesos, reaching a maximum of 284 and a minimum of 260.
Frequently Asked Questions About Cuba's Currency Market
Why is the currency market in Cuba so volatile?
Cuba's currency market is volatile due to economic instability, government policies, and fluctuations in demand and supply for foreign currencies.
What factors are influencing the current exchange rates in Cuba?
Current exchange rates in Cuba are influenced by factors such as economic conditions, government interventions, and changes in international currency markets.
How reliable are the currency forecasts provided by the OMFi?
The OMFi's forecasts are based on economic models and current market trends, offering a reasonable estimate but are subject to change due to unforeseen economic shifts.