The informal currency market in Cuba finishes April with the highest rate recorded this year, after the euro's exchange rate increased by five points on Tuesday, reaching 385 Cuban pesos (CUP).
According to reports from the independent media elTOQUE, which daily publishes the fluctuations of the informal currency market, on April 30, the dollar is quoted at 368 Cuban pesos (CUP) and the euro at 385 CUP, thus maintaining the same value as the previous day.
Informal exchange rate in Cuba, Wednesday, April 30, 2025 - 11:34
Exchange rate of the dollar (USD) to Cuban pesos (CUP): 368 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 385 CUP
Exchange rate of freely convertible currency (MLC) to Cuban pesos CUP: 265 CUP
The euro maintained the same value for almost a week, from April 23 to 28, while the U.S. dollar and MLC showed milder fluctuations.
However, this Tuesday marked a drastic change when the euro rose by five pesos.
More lightly, the dollar increase this Tuesday was from 367 CUP to 368 CUP, while the freely convertible currency (MLC) remained stable at 265 CUP.
For this Wednesday, no changes are observed in the currency buying and selling groups in Cuba.
The dollar has reached up to 370 CUP for sale today, while the lowest recorded value for purchase has been 365 CUP.
The MLC, for its part, has been sold at prices ranging between 260 CUP and 265.
In the case of the euro, the significant increase may be due to a combination of factors, such as the high demand for foreign currency for private transactions, imports, and travel, as well as a shortage of euros in the informal market. This situation is exacerbated by domestic inflation and the deterioration of confidence in the Cuban peso as a means of saving and payment.
The increase of foreign currency in the Cuban informal market intensifies the economic and social difficulties faced by the population, as it raises the cost of living and reduces the purchasing power of those who depend on the Cuban peso.
Additionally, the lack of foreign currency in official channels forces many Cubans to turn to the informal market.
Frequently Asked Questions about the Informal Currency Market in Cuba
What is the exchange rate for the dollar and the euro in the informal Cuban market at the end of April 2025?
The dollar is quoted at 368 Cuban pesos (CUP) and the euro at 385 CUP in the Cuban informal market at the end of April 2025. This increase in foreign currencies reflects the growing demand and the scarcity of euros in the market, as well as the lack of confidence in the national currency.
Why has the euro risen so much in the Cuban informal market?
The significant increase of the euro in the Cuban informal market, which reached 385 CUP, may be due to a high demand for foreign currency for private operations, imports, and travel, as well as the scarcity of euros in the market. This phenomenon is also influenced by internal inflation and the erosion of confidence in the Cuban peso as a means of saving and payment.
What impact does the rise of the dollar and euro have on the Cuban economy?
The increase of foreign currency in the Cuban informal market accentuates the economic and social difficulties faced by the population, as it raises the cost of living and reduces the purchasing power of those who depend on the Cuban peso. The lack of foreign currency in official channels forces many Cubans to resort to the informal market, increasing inflation and the scarcity of basic products.
How does the volatility of the informal currency market affect Cubans?
The volatility in the informal currency market significantly affects Cubans, as it determines their real purchasing power in an economy marked by scarcity and inflation. Many citizens closely monitor the evolution of these rates to protect their savings and income against the devaluation of the Cuban peso.
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