On August 16, the U.S. dollar is trading at 400 Cuban pesos in the informal currency market. This rate maintains the record high reached earlier this week, as reported by elTOQUE. Meanwhile, the euro continues its upward trend and is valued at 450 CUP this Saturday, making it the strongest currency on the island. The Freely Convertible Currency (MLC) has been holding steady at 200 CUP for several days now.
The stability of these high currency values in the black market comes as no surprise to Cubans, yet it does stir concerns. Some speculate about a potential stabilization of prices, while others worry about the ongoing depreciation of the Cuban peso. The MLC, originally introduced as a control mechanism for foreign currencies within the country, is now mostly rejected by government stores, adding to public apprehension.
Current Exchange Rates in Cuba for August 16, 2025
Informal Exchange Rates:
- USD to Cuban pesos (CUP): 400 CUP
- EUR to Cuban pesos (CUP): 450 CUP
- MLC to Cuban pesos (CUP): 200 CUP
Currency Conversion: USD and EUR to CUP
USD to CUP Conversion:
- 1 USD = 400 CUP
- 5 USD = 2,000 CUP
- 10 USD = 4,000 CUP
- 20 USD = 8,000 CUP
- 50 USD = 20,000 CUP
- 100 USD = 40,000 CUP
EUR to CUP Conversion:
- 1 EUR = 450 CUP
- 5 EUR = 2,250 CUP
- 10 EUR = 4,500 CUP
- 20 EUR = 9,000 CUP
- 50 EUR = 22,500 CUP
- 100 EUR = 45,000 CUP
- 200 EUR = 90,000 CUP
- 500 EUR = 225,000 CUP
Understanding Cuba's Informal Currency Market
Why is the U.S. dollar trading at such a high rate in Cuba?
The high trading rate of the U.S. dollar in Cuba is due to the depreciation of the Cuban peso and a lack of confidence in the local currency, leading to increased demand for more stable foreign currencies like the dollar.
What is the impact of the euro being the strongest currency in Cuba?
The euro's strength in Cuba reflects its high demand and limited availability, influencing the purchasing power of Cubans who rely on foreign currency for imports and essential goods.
How does the MLC affect the Cuban economy?
The MLC was initially introduced to control foreign currency circulation, but its limited acceptance in government stores has led to concerns about its effectiveness and impact on the economy.