New developments are unfolding in Cuba's informal market as the U.S. dollar sees a rise while the euro experiences a decline. After being valued consistently at 375 CUP for several days, the dollar made a subtle move upward on the morning of June 17, reaching 376 CUP. This reflects an increase of one peso compared to its value over the past week, according to the latest report from elTOQUE.
Interestingly, the median exchange rate for the last 24 hours suggests a more significant increase for the American currency, standing at 378 CUP for selling. It remains to be seen whether this rate will stabilize or change in the coming hours.
On the other hand, the euro, which had been on an impressive upward streak with multiple record highs in recent days, has seen a reversal. The European currency has dropped by five pesos, returning to 410 CUP on this Tuesday.
Stability and Predictions in Cuban Currency
The virtual currency used by the Cuban regime, often believed to be on the brink of obsolescence, remains unchanged as of June 17. The Convertible Currency (MLC) continues to be traded at 260 CUP.
As of June 17, 2025, at 7:52 a.m. in Cuba, the exchange rates according to elTOQUE are as follows:
- USD to CUP: 376 CUP
- EUR to CUP: 410 CUP
- MLC to CUP: 260 CUP
The conversion rates for U.S. dollars to Cuban pesos today are:
- 1 USD = 376 CUP
- 5 USD = 1,880 CUP
- 10 USD = 3,760 CUP
- 20 USD = 7,520 CUP
- 50 USD = 18,800 CUP
- 100 USD = 37,600 CUP
For euros:
- 1 EUR = 410 CUP
- 5 EUR = 2,050 CUP
- 10 EUR = 4,100 CUP
- 20 EUR = 8,200 CUP
- 50 EUR = 20,500 CUP
- 100 EUR = 41,000 CUP
- 200 EUR = 82,000 CUP
- 500 EUR = 205,000 CUP
Market Forecasts for June
A recent article by elTOQUE, drawing on an analysis from the Observatorio de Monedas y Finanzas de Cuba (OMFi), predicted that the currency market would become "more volatile and uncertain" in June compared to previous months, and this prediction appears to be accurate.
The OMFi noted that May was characterized by an oversupply, but June is expected to see excessive demand, potentially driving up exchange rates. According to the OMFi's forecasting models, the probable exchange rates in Cuba by June 30, 2025, are projected to be:
- For the U.S. dollar (USD): a central value of 385 Cuban pesos, with a maximum of 408 and a minimum of 365.
- For the euro (EUR): a central value of 406 Cuban pesos, with a maximum of 421 and a minimum of 385.
- For the Convertible Currency (MLC): a central value of 274 Cuban pesos, with a maximum of 284 and a minimum of 260.
Frequently Asked Questions about Cuban Exchange Rates
Why did the U.S. dollar increase in value in Cuba's informal market?
The U.S. dollar's increase in value is attributed to changes in supply and demand dynamics, along with market speculation and economic conditions in Cuba.
What caused the euro to decrease in value?
The euro's decline can be associated with recent market adjustments after a period of rapid increases, leading to a natural correction in its exchange rate.
What are the projected exchange rates for the end of June?
By June 30, 2025, projections suggest the USD could reach 385 pesos on average, while the euro might be around 406 pesos.