It seemed that way, but it wasn't.
In the last few hours, the Freely Convertible Currency (MLC) has taken a step back and suddenly dropped the five pesos it had gained, now standing again at 190 CUP.
In the last two days, numerous internet users on social media had shared their hypotheses about the surge that the MLC had experienced over two consecutive days: whether they had introduced sausages and interesting products in the increasingly scarce MLC stores, or if it was on its last legs but not yet dead...
However, the Convertible Currency is regressing and raises once again the more than imminent prediction of its disappearance from the Cuban economic landscape.
Exchange Rate Evolution
The dollar remains valued at 410 CUP; while the euro holds an estimated average selling price of 460 CUP, according to the daily report from elTOQUE.
Exchange rate today 06/09/2025 - 7:49 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 410 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 460 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 190 CUP.
In July, Manuel Marrero announced transformations in the official currency market in Cuba, changes that -as indicated- are expected to be implemented in the second half of the year. However, there are currently no updates on the matter.
In recent days, the Cuban regime announced that the average monthly salary in the country rose to 6,649 pesos during the first half of 2025, representing a 16.4% increase compared to the same period last year.
The data, released by the National Office of Statistics and Information (ONEI) and reproduced by Cubadebate, was presented as a positive indicator of the official economic policy.
However, far from being a relief for the population, this increase translates to little or nothing in the face of the deep inflationary crisis and the ongoing depreciation of the Cuban peso.
The numbers clash with the reality of daily life: the informal market rate shows that the dollar remains at 410 CUP, meaning that this new average salary is barely equivalent to about 16.22 dollars per month. In other words, what a worker earns in a month is not even enough to cover a minimal part of their needs.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this September 6th:
1 USD = 410 CUP.
5 USD = 2,050 CUP.
10 USD = 4,100 CUP.
20 USD = 8,200 CUP.
50 USD = 20,500 CUP.
100 USD = 41,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 460 CUP.
5 EUR = 2,300 CUP.
10 EUR = 4,600 CUP.
20 EUR = 9,200 CUP.
50 EUR = 23,000 CUP.
100 EUR = 46,000 CUP.
200 EUR = 92,000 CUP.
500 EUR = 230,000 CUP.
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