This is how the dollar and euro rise in Cuba this February 14. Official and informal rates

After a long day of blackouts, this is how the dollar, the euro, and the Freely Convertible Currency (MLC) wake up in Cuba this Friday, February 14. Below are the official and informal exchange rates of the most traded currencies on the island.

The informal currency market in Cuba continues to set the pace for those looking to exchange money outside the official banking system. According to real-time updated values, the current exchange rates this Friday morning, according to the medium they are:

• 1 EUR = 345.00 CUP
• 1 USD = 340.00 CUP
• 1 MLC = 245.00 CUP

These values reflect the supply and demand in the black market for foreign currency, an alternative used by many Cubans due to the restrictions of the official financial system. The variation in prices responds to multiple factors, such as inflation, the scarcity of foreign currency, and the country's economic policies.

The lack of state control over foreign currency has led the informal market to become a key reference for the everyday economy on the island. Both citizens and businesses turn to this market to obtain foreign currency at more competitive rates than those offered by banking institutions, which in most cases do not even have any to sell.

For those who need to buy or selling foreign currency in Cuba is essential be attentive to daily fluctuations, hence the importance of knowing how these rates fluctuate.

Euro, dollar, according to BCC this February 14 in Cuba

Exchange rates in the Cuban informal market fluctuate due to various factors, such as the limited availability of foreign currency, which directly influences its price.

Likewise, government policies and economic measures impact the supply and demand of foreign currency. Inflation and the economic crisis also play a key role, as the variation of the Cuban peso (CUP) is closely linked to the country's economic conditions.

The Central Bank of the island maintains the buying and selling of euro and dollar in Cuba between 120 and 130 Cuban pesos, according to the official rate.