Significant drop in the value of the euro in Cuba: Exchange rates on the informal foreign exchange market

This is how the informal market rates in Cuba look today: luneMay 12th 2025.

In a context marked by shortages, persistent inflation and increasing de facto dollarization, the informal foreign exchange market in Cuba has opened this lunewith slight movements that point to new imbalances between currencies and economic realities.

Although the price of the US dollar remains stable at 370 CUP, the euro has registered a drop of 5 pesos, standing at 380 CUP, as well as the MLC continues to lose ground by changing today for 260 CUPOn the other hand, the value of transfers via Zelle has risen significantly to 380 CUP, with a rise of 15 pesos in the last few hours. The Canadian dollar (CAD) is trading at 230 CUP.

The situation in Cuba and its impact on the foreign exchange market

This new adjustment in informal market rates coincides with the start of a particularly critical week for many Cubans. Mother's Day, celebrated this Sunday, increased demand for remittances, gifts, and top-ups, putting greater pressure on the dollar and Zelle, commonly used for these types of transactions.

Furthermore, for weeks, systematic failures in the delivery of basic food baskets have been reported, a worsening factor that forces many families to rely on the foreign currency market to access food and basic goods. Added to this is the fact that the official dollar remains pegged at 120. CUP, well below the real rates of the informal market.

On the other hand, the increase in Zelle's value could also be linked to fears of new restrictions on payment platforms from the United States to Cuba. Some rumors suggest that the Donald Trump administration could tighten sanctions in the coming months, which would further stimulate immediate demand for foreign currency.

Equivalents in Cuban pesos for today

1 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

1 EUR = 380 CUP

• 1 EUR = 380 CUP

• 5 EUR = 1,900 CUP

• 10 EUR = 3,800 CUP

• 20 EUR = 7,600 CUP

• 30 EUR = 11,400 CUP

• 50 EUR = 19,000 CUP

• 100 EUR = 38,000 CUP

1 MLC = 260 CUP

• 1 MLC = 260 CUP

• 5 MLC = 1,300 CUP

• 10 MLC = 2,600 CUP

• 20 MLC = 5,200 CUP

• 30 MLC = 7,800 CUP

• 50 MLC = 13,000 CUP

• 100 MLC = 26,000 CUP

CAD 1 = 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

1 ZELLE = 380 CUP

• 1 ZELLE = 380 CUP

• 5 ZELLE = 1,900 CUP

• 10 ZELLE = 3,800 CUP

• 20 ZELLE = 7,600 CUP

• 30 ZELLE = 11,400 CUP

• 50 ZELLE = 19,000 CUP

• 100 ZELLE = 38,000 CUP

Compared to the average salary in Cuba, which in April was officially updated to 5,839 Cuban pesos per month, a simple remittance of 20 dollars (7,400 CUP) exceeds more than 125% of the average monthly income, which continues to confirm the extremely high dependence on remittances.