This Monday, May 12, 2025, the informal currency market in Cuba maintains the exchange rate of the US dollar at 370 Cuban pesos (CUP), reinforcing a stability that has lasted for more than ten consecutive days.
This pause in the dollar's rise comes after a period of increases that saw the rate climb from 360 CUP at the beginning of April to 370 CUP since May 3, a level it has maintained to this day.
Informal exchange rate in Cuba Monday, May 12, 2025 - 06:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 370 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 380 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 260 CUP
For its part, the euro continues its upward trend and is quoted today at 380 CUP, according to the daily monitoring from the independent outlet elTOQUE. This currency has rapidly climbed from values close to 375 CUP in mid-April, confirming a faster appreciation compared to the dollar.
The difference between the two currencies, currently at 10 pesos, has increased in recent days, which could indicate a higher relative demand for the euro in certain informal transactions, especially in activities related to foreign trade or imports.
Exchange Rate Evolution
On an international level, the dollar has strengthened against the euro, moving from 0.92 to 0.89 EUR per USD in the past month, as a result of the Federal Reserve's contractionary monetary policies and an increased global demand for dollar-denominated assets.
However, this external perception is not reflected with the same intensity in the Cuban market, where internal factors have a greater influence.
Among these factors, the persistent scarcity of foreign currency in official channels, high domestic inflation, the partial dollarization of the economy, and the lack of trust in the Cuban peso as a store of value stand out.
In this context, the stability of the dollar at 370 CUP seems to indicate a temporary equilibrium between supply and demand, but not a consolidated trend. On the contrary, the behavior of the euro suggests that upward pressure still exists in the informal market.
The evolution in the coming days will depend on the availability of remittances, the citizens' perception of economic risk, and potential regulatory measures that may alter the incentives of the informal market.
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