The informal currency market in Cuba opened this Wednesday, September 24, with a new increase in the exchange rate of the United States dollar (USD), which is now at 428 Cuban pesos (CUP), one peso more than the previous day and the highest level recorded so far.
The euro (EUR) remains at 485 CUP, after reaching a historic high at the beginning of the week, while the Convertible Currency (MLC) remains at 205 CUP.
Informal exchange rate in Cuba Wednesday, September 24, 2025 - 05:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 428 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 485 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 205 CUP
The movement of the dollar confirms the growing pressure on the national currency. In just four days, the greenback rose from 420 to 428 CUP, an increase of eight pesos that reflects the appetite of Cubans for the US dollar in a parallel market where supply is limited and demand continues to grow. The barrier of 430 CUP now appears to be the next ceiling for the market to test.
Exchange Rate Evolution
The euro maintains its historical record at 485 CUP, with a gap of nearly 60 CUP compared to the dollar. The European currency has not experienced any changes in the last 48 hours, but it remains the most expensive reference and best illustrates the depreciation of the Cuban peso during September.
The MLC, meanwhile, remains at 205 CUP after showing significant fluctuations last week. Its relative stability contrasts with the rise of the dollar and the euro, although it also highlights that the Cuban peso is failing to regain ground against any of the foreign currencies in the informal market.
The rise of the dollar directly impacts the purchasing power of Cubans. With minimum pensions of 4,000 CUP, a retiree now has access to 9.3 dollars, a figure that highlights the precariousness of income in a country where, according to independent estimates, over 30,000 CUP per month is needed to cover basic food needs.
The question lingering in the streets is unavoidable: how far and how long will the dollar continue to rise in the Cuban informal market?
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