After two days of stability, this Saturday the informal currency market in Cuba sees a new development: the dollar rises.
The US dollar experiences a slight increase of one peso and stands at 441 CUP per dollar.
The euro, for its part, holds onto the 500 pesos it reached on the historic day last Wednesday when it climbed to 500 pesos, breaking a significant sales threshold that consolidates the plunge of the national currency.
In the case of the Freely Convertible Currency (MLC), whose decline and volatility have been its defining characteristics in recent months, it has remained valued at 210 CUP for several days.
Exchange Rate Evolution
Exchange rate today 04/10/2025 - 7:27 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 441 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 500 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 210 CUP.
Since late 2024, the Cuban government has announced its intention to introduce a floating exchange system in an attempt to bridge the gap between the official and informal values of currencies.
However, more than six months later, they have not provided details about its implementation.
Independent economists warn that any attempt to regulate the exchange system should start from a reference rate close to the Representative Rate of the Informal Market (TRMI).
That is to say, the government would have to officially acknowledge prices four times higher than the current 120 CUP per euro maintained by state banks and official exchange houses (CADECA).
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of October 4th:
1 USD = 441 CUP.
5 USD = 2,205 CUP.
10 USD = 4,410 CUP.
20 USD = 8,820 CUP.
50 USD = 22,050 CUP.
100 USD = 44,100 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 500 CUP.
5 EUR = 2,500 CUP.
10 EUR = 5,000 CUP.
20 EUR = 10,000 CUP.
50 EUR = 25,000 CUP.
100 EUR = 50,000 CUP.
200 EUR = 100,000 CUP.
500 EUR = 250,000 CUP.
Frequently asked questions about the informal currency market in Cuba
What is the exchange rate of the US dollar in the Cuban informal market?
The exchange rate of the US dollar in the Cuban informal market is 441 CUP per dollar. This value reflects the economic instability and high demand for foreign currency on the island, in contrast to the official exchange system, which still maintains significantly lower prices.
Why has the euro reached 500 CUP in the informal market?
The euro has reached 500 CUP due to the depreciation of the Cuban peso and the increasing demand for foreign currency. The shortage of foreign currency in the official banking system and the economic crisis have driven up the value of the euro in the informal market, making it one of the most expensive currencies in Cuba.
How does the volatility of the freely convertible currency (MLC) affect Cuba?
The volatility of the Free Convertible Currency (MLC) primarily affects prices in state-run stores that use this currency. Although its value has decreased to 210 CUP, the instability creates economic uncertainty and impacts Cubans' ability to access basic goods.
What has the Cuban government said about the currency reform?
The Cuban government has announced its intention to introduce a floating exchange rate system. However, despite promises made since late 2024, over six months later, there are still no concrete details regarding its implementation, which keeps uncertainty in the foreign exchange market.
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