In line with the global financial situation, the euro in Cuba also continues to strengthen against the dollar. In recent hours, it has risen again and continues to approach the 400-dollar threshold. CUP.
The informal foreign exchange market in Cuba is on the move again this Saturday, May 4. A development that’s drawing attention: the euro has climbed by two pesos in recent hours, now standing at 387 CUP. This value brings it dangerously close to the psychological barrier of 400 Cuban pesos per euro. If the trend continues, that mark could be reached in the coming days.
For its part, the US dollar remains stable at 370 CUP, Whereas the MLC (freely convertible currency) remains at 265 CUP, unchanged. Zelle transfers are around 365 CUP for every dollar. This continues to demonstrate that cash is still valued higher than digital methods, although the latter are increasingly used by relatives abroad.
The euro is surpassing the dollar… and not just in Cuba
Internationally, on May 4, the euro is trading at $1,13 (i.e., $1 = €0,88). This means that the European currency has also gained ground outside of Cuba. However, on the island, the margin is even greater: the difference between the euro and the dollar on the informal market is 17 pesos. This could be explained by the increase in remittances and transactions from European countries, where many Cuban emigrants maintain family ties.
If the euro continues this sustained rise, it would not be unreasonable to think that it could reach 390 CUP or even 400 CUP In the short term, this threshold, beyond its symbolic value, could directly affect the price of goods and services quoted in that currency, including tourist packages, airline tickets, and certain imported products.
Amid inflation, every peso counts
In a country where the average monthly salary is just 5.057 CUP, the informal market has become the most reliable economic reference for millions of Cubans. Converted at the current exchange rate, that salary is equivalent to 13,66 USD or 13,06 EUR. With these amounts, it's impossible to cover even basic expenses such as food, transportation, and electricity. This is even more difficult with inflation continuing to decline and a distribution system that continues to collapse.
Meanwhile, domestic prices continue to deviate from the reality of the average pocket. A pound of rice can cost more than 200 pesos. CUP in many provinces. While oil, chicken, and other essential products double in price week after week.
Currency equivalents today in the informal market (in CUP)
US Dollar (USD) – 370 CUP
1 USD = 370 CUP
5 USD = 1.850 CUP
10 USD = 3.700 CUP
20 USD = 7.400 CUP
30 USD = 11.100 CUP
50 USD = 18.500 CUP
100 USD = 37.000 CUP.
Euro (EUR) – 387 CUP
1 EUR = 387 CUP
5 EUR = 1.935 CUP
10 EUR = 3.870 CUP
20 EUR = 7.740 CUP
30 EUR = 11.610 CUP
50 EUR = 19.350 CUP
100 EUR = 38.700 CUP.
MLC - 265 CUP
1 MLC = 265 CUP
5 MLC = 1.325 CUP
10 MLC = 2.650 CUP
20 MLC = 5.300 CUP
30 MLC = 7.950 CUP
50 MLC = 13.250 CUP
100 MLC = 26.500 CUP.
Zelle (USD) – 365 CUP
1 USD = 365 CUP
5 USD = 1.825 CUP
10 USD = 3.650 CUP
20 USD = 7.300 CUP
30 USD = 10.950 CUP
50 USD = 18.250 CUP
100 USD = 36.500 CUP.
Canadian Dollar (CAD) – 230 CUP
CAD 1 = 230 CUP
CAD 5 = 1.150 CUP
CAD 10 = 2.300 CUP
CAD 20 = 4.600 CUP
CAD 30 = 6.900 CUP
CAD 50 = 11.500 CUP
CAD 100 = 23.000 CUP.
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1 comments
If this continues like this let's expect a social explosion at any moment because this is unsustainable and one can be prudent but that doesn't mean they have to die of hunger and at the rate we're going we're almost in that range, the currency rise, very high prices without being able to change this panorama and salaries that the government knows and is clear about but they don't give satisfactory answers to the people, only reduction and more reduction, until when is it too much for the Cuban, give rise to chicken, milk, oil with capped prices and for fun, now the mipimes and all the others sell it above and for much more and they think they don't see it or they are blind because the bought impectors pass by and close their eyes, this can't be done, this is going backwards and further backwards every day in Marianao we live with this and everything that is close to the government doesn't see it and actions are taken, the best for the mipimis, keep going well