The informal currency market in Cuba opened this Tuesday, September 23, with a new upward movement in the United States dollar (USD), which is now quoted at 427 Cuban pesos (CUP), two more than the previous day.
The euro (EUR) remains at 485 CUP, after reaching a new record on Monday, while the Freely Convertible Currency (MLC) has dropped to 205 CUP, after being at 209 at the beginning of the week.
Informal exchange rate in Cuba Tuesday, September 23, 2025 - 07:00
- Exchange rate of the dollar (USD) to Cuban pesos (CUP): 427 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 485 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 205 CUP
The rise of the dollar reinforces the upward trend that the currency has shown in recent days. After remaining stable around 420 CUP for much of September, the greenback broke that barrier last Sunday and has already accumulated an increase of seven pesos in just three sessions.
Exchange Rate Evolution
The new ceiling of 427 CUP confirms that the Cuban peso continues to lose value and that the demand for dollars remains strong in the parallel market.
The euro, on the other hand, maintains the level it reached on Monday at 485 CUP, widening its gap with the dollar by almost 60 CUP. The European currency is solidifying its position as the most expensive and dynamic in the market, having gained 20 CUP so far this month.
The MLC reflects market volatility. After reaching 210 CUP last week and stabilizing at 209 at the beginning of the current week, it has now dropped to 205 CUP, erasing part of the gains made in the previous days.
This new rise in the dollar occurs in a context marked by the deterioration of the purchasing power of Cubans. With minimum pensions of 4,000 CUP, a retiree can barely access 9.3 dollars in the informal market today, which highlights the precariousness of an income that, in real terms, devalues day by day.
The rise of the dollar confirms that the relative calm of recent weeks is behind us and that the informal market is entering a phase of greater pressure, with currencies continuing to set records and a Cuban peso that is increasingly weakened.
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