On this Sunday morning, the informal currency market in Cuba continues to exhibit stability for the fourth consecutive day. According to independent media reports based on social media monitoring, the three key currencies—the U.S. dollar, euro, and Cuban Convertible Peso (MLC)—remain unchanged. The U.S. dollar and euro are both valued at 340 Cuban pesos (CUP), while the MLC stands at 240 CUP. This trend of stability has persisted throughout much of January, despite potential political shifts following Donald Trump's recent assumption of the U.S. presidency. While a false statement about new measures affecting remittances and travel stirred tensions, the actual impact remains to be seen.
The current exchange rates reflect a period of relative calm in the Cuban informal market. Since early January, the U.S. dollar has maintained its value at 340 CUP, a rate it has held for over two weeks. Similarly, the euro, which experienced a sudden drop earlier in the week, has stabilized at the same rate as the dollar. Meanwhile, the MLC has remained steady at 240 CUP for nearly two weeks. These consistent values suggest that traders and residents are not anticipating immediate changes in the near term.
However, the arrival of a new U.S. administration under Donald Trump has introduced an element of uncertainty. Speculations about potential policy changes, particularly concerning remittances and commercial flights to Cuba, have created a sense of anticipation. A fabricated statement circulating on social media claimed that the Trump administration would impose restrictions on remittances, commercial flights, and travel for Cuban nationals residing in the U.S., along with possible deportations. Although this claim was debunked, the underlying concerns remain valid. Any significant policy shift could disrupt the current stability in the informal currency market.
In addition to the U.S. dollar and euro, the MLC has also played a crucial role in the Cuban economy. Valued at 240 CUP, the MLC is used in specific sectors and transactions. Its stable position reflects broader economic trends within the country. The consistency in exchange rates suggests that market participants are currently more focused on short-term stability rather than reacting to speculative news or rumors.
Despite the current stability, the Cuban informal currency market remains vigilant. Traders and observers alike are closely watching for any signs of policy changes from the new U.S. administration. While no immediate alterations have been observed, the potential for future adjustments keeps the market on edge. For now, the steady exchange rates provide a brief respite amidst ongoing geopolitical uncertainties.