The euro gains ground against the dollar worldwide. Exchange rates in Cuba today: price of the dollar, the euro, and the MLC

The euro remains strong against the dollar while bitcoin faces declines. Meanwhile, domestically in Cuba, exchange rates behave differently.

The euro continues to strengthen against the dollar in international markets, reaching an exchange rate of 1.09 dollars per euro on this Thursday.

This trend has solidified in recent weeks due to uncertainty about the US economy and recent adjustments in Federal Reserve interest rates.

Meanwhile, Bitcoin has experienced a slight decline after reaching all-time highs above $100,000.

The recent decision by the Trump administration to establish a strategic reserve of cryptocurrencies has sparked speculation in the markets, causing fluctuations in the value of digital assets.

The informal market in Cuba: updated exchange rates

In Cuba, the informal currency exchange market reflects today, Thursday, March 13, 2025, the following exchange rates:

• 1 euro = 350 CUP
• 1 dollar = 345 CUP
• 1 MLC = 280 CUP
• 1 Canadian dollar = 219 CUP

These figures confirm that the dollar continues to lose value against the euro on the island, reflecting the same trend observed in international markets. The difference between the two currencies in the Cuban informal market remains small, with only 5 CUP difference between the dollar and the euro, which reinforces the perception that both currencies are being demanded similarly in the country.

Equivalencies and analysis of the impact on the Cuban economy

The current values of the informal market in Cuba, the calculation of equivalencies regarding income and inflation on the island, yield concerning data.

With the official minimum wage in Cuba set at 2,100 CUP per month, this equals:

• 6 dollars in the informal market
• approximately 6 euros
• 7.5 MLC

These values reflect the severe devaluation of the Cuban peso and the accelerated loss of workers' purchasing power on the island. In a context of rising inflation and shortages of basic goods, the minimum wage is not enough to cover essential needs.

As a reference, a package of powdered milk in the informal market can exceed 3,500 CUP, more than one and a half times the full minimum wage.

A liter of oil costs 1,800 CUP, while a carton of eggs is sold for 2,000 CUP, making it clear that prices continue to rise and the population is increasingly dependent on the black market to access basic goods.

Inflation and short-term outlook

The behavior of exchange rates in Cuba is closely linked to inflation and shortages. The persistent depreciation of the Cuban peso is due to a lack of confidence in the national currency, which pushes the population to seek foreign currencies as a store of value.

As the Cuban government continues to fail to implement effective measures to curb the economic crisis, prices keep rising and the real salary becomes increasingly insufficient.

If current trends continue, inflation could worsen in the coming months, further widening the gap between income and the cost of living on the island.