The U.S. dollar is experiencing its most significant global slump in over half a century. From January to June 2025, the dollar has dropped more than 10% against major world currencies. But how is the dollar faring in Cuba?
In recent weeks, the American currency has seen a gradual yet steady rise in the Cuban informal market. As June began, the dollar stood at 370 CUP, and through a calm process—gaining peso by peso with minimal setbacks—it has reached 385 CUP. This price has held steady since July 2nd, following a sudden increase of three units.
This uptick could be linked to a memorandum signed by Donald Trump, which tightens the economic embargo and imposes restrictions on transactions with entities controlled by the Cuban regime, particularly those associated with the military conglomerate GAESA.
Besides the dollar, the euro remains unchanged at 425 CUP this Thursday, and the Freely Convertible Currency (MLC) also holds steady at 250. Exchange rates as of 03/07/2025 at 11:06 a.m. in Cuba are as follows:
Current Currency Exchange Rates in Cuba
According to elTOQUE, the exchange rate for the U.S. dollar (USD) is 385 CUP. The euro (EUR) is trading at 425 CUP, and the MLC is at 250 CUP.
Here are the current conversions from U.S. dollars (USD) to Cuban pesos (CUP) based on today's rates:
- 1 USD = 385 CUP
- 5 USD = 1,925 CUP
- 10 USD = 3,850 CUP
- 20 USD = 7,700 CUP
- 50 USD = 19,250 CUP
- 100 USD = 38,500 CUP
And the conversions from Euros (EUR) to Cuban pesos (CUP) are:
- 1 EUR = 425 CUP
- 5 EUR = 2,125 CUP
- 10 EUR = 4,250 CUP
- 20 EUR = 8,500 CUP
- 50 EUR = 21,250 CUP
- 100 EUR = 42,500 CUP
- 200 EUR = 85,000 CUP
- 500 EUR = 212,500 CUP
Understanding the Currency Dynamics in Cuba
Why is the dollar declining globally?
The dollar is declining globally due to various economic factors, including interest rate changes and trade imbalances, which affect its value against other currencies.
How has the Cuban market reacted to the dollar's decline?
Despite the global decline, the dollar has been increasing in value in Cuba's informal market, likely due to local economic conditions and external political factors.
What is the impact of U.S. policies on Cuba's currency exchange?
U.S. policies, particularly those affecting economic sanctions and trade restrictions, have a significant impact on Cuba's currency exchange rates, often leading to fluctuations in the value of the dollar and other currencies.