The informal currency market in Cuba opened this Monday, September 22, with a new historic movement: the euro (EUR) reached 485 Cuban pesos (CUP), its highest value to date, consolidating the upward trend it has maintained since the beginning of the month.
The US dollar (USD) remains at 425 CUP, while the freely convertible currency (MLC) has settled at 209 CUP, having slightly decreased from 210 over the weekend.
Informal exchange rate in Cuba Monday, September 22, 2025 - 05:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 425 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 485 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 209 CUP
The rise of the euro in the last week has been steady, with a gain of 10 CUP against the Cuban peso in just five days. The European currency, which had already managed to distance itself from the dollar since the first half of September, now reinforces that gap to 60 CUP, highlighting the weakness of the Cuban peso and the appeal of the euro in the black market.
Exchange Rate Evolution
The dollar, for its part, remains at the new level reached on Sunday, when it jumped to 425 CUP after several days of stability around 420. Although the U.S. currency shows strength, it is the euro that sets the tone for the market and continues to break records.
The MLC shows a more volatile behavior: after rising to 210 CUP at the end of last week, it has slipped back one point and stabilized at 209, a level that confirms its recovery compared to the beginning of the month when it had dropped to 193 CUP.
The new euro record amplifies the purchasing power crisis on the island. With minimum pensions set at 4,000 CUP, a retiree can barely access 8.2 euros in the informal market today, illustrating the precariousness of a sector that is already among the hardest hit.
The behavior observed this Monday confirms that, instead of stabilizing, the informal currency market in Cuba is moving in an upward spiral that continues to drive down the national currency and, along with it, the quality of life for millions of families.
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