The week begins with a record day in the informal market for the euro.
At dawn on this August 4th, the European currency rises to 445 CUP, according to the daily report from elTOQUE, which records the fluctuations of currencies on the island.
The figure represents an increase of five units compared to the value of the euro since July 24th.
In the case of the dollar and the Convertible Currency (MLC), there are no variations: the US dollar remains valued at 395 CUP which was reached this Sunday (also a record figure); and the MLC has been stable at 220 CUP for several days.
Exchange Rate Evolution
As of the closing of this report, the median value is 398 CUP for the sale of the dollar, and it has dropped to 444 CUP for the euro.
Exchange rate today 04/08/2025 - 8:08 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 395 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 445 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 220 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), based on the exchange rates of this August 4th:
1 USD = 395 CUP.
5 USD = 1,975 CUP.
10 USD = 3,950 CUP.
20 USD = 7,900 CUP.
50 USD = 19,750 CUP.
100 USD = 39,500 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 445 CUP.
5 EUR = 2,225 CUP.
10 EUR = 4,450 CUP.
20 EUR = 8,900 CUP.
50 EUR = 22,250 CUP.
100 EUR = 44,500 CUP.
200 EUR = 89,000 CUP.
500 EUR = 222,500 CUP
In mid-July, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of People's Power (ANPP) that a new "management, control, and foreign currency allocation mechanism" will be implemented in the second half of 2025, as part of the so-called “Government Program to correct distortions and revive the economy.”
According to Marrero, the new model will include the transformation of the official foreign exchange market, the consolidation of financing schemes, and the supposed more efficient redistribution of the foreign currencies generated by state-owned enterprises.
Meanwhile, the informal market continues to set the tone: the Cuban peso is worth less and less, and remittances from emigrants are the main support for millions of households across the country.
Frequently Asked Questions About the Foreign Exchange Market in Cuba
What is the current price of the euro in the Cuban informal market?
The euro is trading at 445 CUP in the Cuban informal market, reaching a new sales record.
How has the dollar performed in Cuba's informal market?
The dollar remains at 395 CUP, with no recent variations in its selling price in the informal market.
What changes are expected in Cuba's official exchange system?
The Cuban Prime Minister, Manuel Marrero Cruz, has announced that in the second half of 2025, a new "management, control, and currency allocation mechanism" will be implemented as part of the "Government Program to correct distortions and reinvigorate the economy." A transformation of the official currency exchange market is expected, although in the past, such reforms have been criticized for their lack of inclusivity.
What is the situation of the Cuban peso against foreign currencies?
The Cuban peso has lost value against foreign currencies, especially in the informal market, where the euro and the dollar have reached record levels. This devaluation is exacerbated by the reliance on remittances and the parallel economy, which negatively affects the most vulnerable populations.
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