This Friday, the value of the U.S. dollar has experienced a modest rise in the informal Cuban market, reaching 397 Cuban pesos (CUP) as reported by elTOQUE's reference rate. This marks a two-peso increase from the previous day when it closed at 395 CUP, maintaining the dollar at one of the highest historical rates ever seen in the nation.
Meanwhile, the euro remains steady at its record value of 445 CUP for the second consecutive day. This stability contrasts with the volatility observed in previous weeks, where abrupt changes were driven by imbalances between supply and demand in the black market.
On the other hand, the freely convertible currency (MLC) holds at 215 CUP, having regained the five pesos it lost on Tuesday by Wednesday. This pattern underscores the instability that has characterized its behavior over the past week, highlighting the fragility of a market heavily reliant on informal transactions.
Informal Exchange Rates in Cuba: August 8, 2025
As of 7:00 AM on Friday, August 8, 2025, the informal exchange rates are as follows:
- U.S. Dollar (USD) to Cuban Peso (CUP): 397 CUP
- Euro (EUR) to Cuban Peso (CUP): 445 CUP
- Freely Convertible Currency (MLC) to Cuban Peso (CUP): 215 CUP
Currency Equivalencies in Bills
For those dealing with cash transactions, here are the equivalent values for various denominations:
U.S. Dollar (USD)- 1 USD → 397 CUP
- 5 USD → 1,985 CUP
- 10 USD → 3,970 CUP
- 20 USD → 7,940 CUP
- 50 USD → 19,850 CUP
- 100 USD → 39,700 CUP
- 1 EUR → 445 CUP
- 5 EUR → 2,225 CUP
- 10 EUR → 4,450 CUP
- 20 EUR → 8,900 CUP
- 50 EUR → 22,250 CUP
- 100 EUR → 44,500 CUP
Understanding Cuba's Informal Currency Market
Why is the dollar's exchange rate so high in Cuba?
The high exchange rate is largely due to economic instability and the government's inability to stabilize the currency, leading to reliance on informal markets.
What causes the euro to be stable compared to the dollar in Cuba?
The euro's stability may be attributed to different supply and demand dynamics, possibly influenced by international trade and tourism from Europe.
How does the informal market affect Cuba's economy?
The informal market perpetuates economic uncertainty and complicates the government's ability to manage the economy effectively, impacting inflation and living standards.