The price of the Freely Convertible Currency (MLC) is falling, that's the news coming from the Cuban informal currency market this Tuesday.
The virtual currency that many see as doomed to disappear on the island has taken a new step back with the sudden drop of five pesos in recent hours, now standing at 215 CUP.
The MLC had remained stable since July 24, when it reached 220 CUP. However, on August 5, it resumed its downward trend, which it has maintained steadily for the past few months.
The dollar and the euro, on their part, maintain their selling values from the previous day: the US currency at 395 CUP and the European currency at 445 CUP, record selling figures in both cases.
Exchange Rate Evolution
Exchange rate today 05/08/2025 - 9:28 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 of MLC to CUP according to elTOQUE: 215 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of August 5th:
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 (ANNP) that "a new mechanism for the management, control, and allocation of currency" will be implemented in the second semester of 2025, as part of the so-called Government Program to correct distortions and reinvigorate the economy.
According to the information released, the new model will include the transformation of the official foreign exchange market, the consolidation of financing schemes, and the alleged more efficient redistribution of the foreign currencies generated by state-owned enterprises.
Meanwhile, the informal market continues to set the trend: the Cuban peso is worth less and less, and the remittances from émigrés are the main support for millions of households across the country.
Frequently asked questions about the informal currency market in Cuba
What is the current exchange rate of the MLC in Cuba?
The current exchange rate of the Freely Convertible Currency (MLC) is 215 CUP in the Cuban informal market. This figure represents a decline of five pesos compared to its previous value of 220 CUP.
What is the price of the dollar in the informal Cuban market?
The dollar is sold for 395 CUP in the Cuban informal market. This is a record value for the dollar in the country.
What is the price of the euro in Cuba's informal market?
The euro is currently being sold for 445 CUP in the Cuban informal market, keeping its record selling price.
What measures has the Cuban government announced regarding the foreign exchange market?
Cuban Prime Minister Manuel Marrero Cruz announced that in the second half of 2025, a new "management, control, and currency allocation mechanism" will be implemented. This program, part of the "Government Program to correct distortions and revitalize the economy," aims to transform the official currency market, consolidate financing schemes, and more efficiently redistribute the foreign currency generated by state-owned enterprises.
Why does the informal market remain relevant in Cuba?
The informal market is significant because the Cuban peso is worth less and less, and remittances from emigrants are the main support for millions of households. In the absence of real access to foreign currency through the official market, Cubans rely on the informal market to acquire foreign currency needed for basic necessities, amplifying economic inequality in the country.
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