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Dollar Value Dips in Cuba's Black Market Currency Exchange

Friday, July 4, 2025 by Richard Morales

Recently, the value of the U.S. dollar has experienced a slight downturn in the informal currency exchange market in Cuba, while the other two benchmark currencies remain unchanged. As of 9:00 a.m. local Cuban time this Friday, the dollar is valued at 384 CUP, a decrease of one peso from the previous day, according to independent monitoring by elTOQUE. Despite this minor setback, the U.S. dollar has been on a gradual and steady rise in the Cuban informal market over the past few weeks.

At the beginning of June, the dollar was valued at 370 CUP. It has since climbed slowly, gaining peso by peso with few intermediate declines, reaching 385 CUP by July 1 after a sudden increase of three units.

Globally, the U.S. dollar is experiencing its most challenging period in over half a century. From January to June 2025, it has depreciated by more than 10% against major world currencies.

Meanwhile, both the euro and the Freely Convertible Currency (MLC) have shown no movement as of July 4. The euro remains at 425 CUP, and the MLC is pegged at 250 CUP.

Current Exchange Rates in Cuba

As of the morning of July 4, 2025, the exchange rates reported by elTOQUE are as follows:

  • USD to CUP: 384 CUP
  • EUR to CUP: 425 CUP
  • MLC to CUP: 250 CUP

Currency Conversion Examples

Here are some typical conversions from U.S. dollars and euros to Cuban pesos based on today's rates:

  • U.S. Dollars (USD) to Cuban Pesos (CUP):
    • 1 USD = 384 CUP
    • 5 USD = 1,920 CUP
    • 10 USD = 3,840 CUP
    • 20 USD = 7,680 CUP
    • 50 USD = 19,200 CUP
    • 100 USD = 38,400 CUP
  • Euros (EUR) to Cuban Pesos (CUP):
    • 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 Cuba's Currency Market Dynamics

Why is the U.S. dollar losing value in the Cuban black market?

The decline in the dollar's value in the Cuban black market is influenced by both local and international factors, including global economic trends and domestic currency policies.

How do global trends affect the Cuban currency market?

Global trends, such as the dollar's depreciation against world currencies, impact Cuba's market by influencing the exchange rates and altering the demand and supply for foreign currencies.

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