Good time to sell euros in Cuba? This is how the informal foreign exchange market starts in May.

The value of the euro continues to rise in the informal foreign exchange market in Cuba on May 2025, XNUMX. 

According to the media report El Toque, this is how the main foreign currencies exchanged on the parallel market are quoted: 

• 1 EUR = 385.00 CUP
• 1 USD = 368.00 CUP
• 1 MLC = 265.00 CUP
• CAD 1 = 230.00 CUP+2
• 1 MXN = 18.50 CUP

According to the aforementioned media outlet's "Evolution of the Informal Buy/Sell Rate," the European currency has seen an increase in value over the course of a week, rising from an initial price of 380 to a buy price of 382 and a sell price of 388. 

Please note that these are all reference figures. "The final exchange rate will be set by sellers and buyers when they finalize the transaction," the website states.

Is it a good time to sell euros in Cuba? 

It's worth remembering that this market operates illegally; however, those who receive remittances in foreign currency or arrive in the country as travelers may see this period as an opportunity to sell euros, as the exchange rates are considerably more advantageous than those offered officially. Furthermore, the formal market continues to be marked by shortages and long waiting lists, sometimes exceeding a year, to access foreign currency purchases.

Selling euros in Cuba: official rate vs. informal market

The math is simple. Let's say €100, for example. Selling that amount gives us 13,611.60 Cuban pesos at the official exchange rate of the Central Bank of Cuba (BCC). While we get 38,500 CUP in the informal market, according to the value of this May 1st 2025. 

In simple words, selling €100 on the informal market generates €24,888.40 CUP rather than at the official BCC exchange rate. That is, the "street" rate offers almost triple the Cuban pesos for the same amount of euros compared to the official market.