The downward trend of the dollar and the euro in the Cuban informal market continues. Both reference currencies have recorded several consecutive days of declining prices.
At dawn on this Thursday, the value of the dollar has fallen in the Cuban informal market for the ninth consecutive day, according to the report published on November 6 by the independent outlet elTOQUE.
The U.S. dollar falls to 410 CUP per unit, marking another drop of 10 pesos in its value compared to the previous day, when it also decreased by another ten units.
Since October 29, when it started to decline, the dollar has fallen by 80 pesos in nine days.
Exchange Rate Evolution
The outlook for the euro is not any better: the European currency falls today to 480 CUP, which also means 10 pesos less than yesterday.
In the case of the euro, it has fallen by 60 pesos over seven consecutive days of decline.
The MLC remains at 205 CUP.
Exchange rate today 06/11/2025 - 6:56 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: 480 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 205 CUP.
In an article published this Wednesday, elTOQUE explained why the value of the dollar and the euro in the informal Cuban market periodically rises and falls, but almost never returns to its starting point.
The text attributed this behavior to the economic phenomenon known as “exchange rate overshooting,” or overshooting, which occurs when currencies surge following a change in expectations and then partially decline, without returning to the previous level.
elTOQUE asserted that since 2022, this pattern has repeated several times - in 2022, 2023, and 2024 - with speculative peaks followed by corrections.
In 2024, the outlet also detected coordinated digital campaigns from accounts linked to the Government aimed at temporarily distorting market perception and discrediting the Representative Rate of the Informal Market (TRMI).
In 2025, however, the movement of the dollar and the euro has been more sustained and less abrupt, although the recent drop in their values could hint at a new correction.
elTOQUE concluded by warning that, although official propaganda may create temporary decreases in the rate, the structural causes of the devaluation of the peso -inflation, fiscal deficit, and lack of trust- remain intact, and the market ultimately readjusts to its reality.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this November 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) notes to Cuban Peso (CUP):
1 EUR = 480 CUP.
5 EUR = 2,400 CUP.
10 EUR = 4,800 CUP.
20 EUR = 9,600 CUP.
50 EUR = 24,000 CUP.
100 EUR = 48,000 CUP.
200 EUR = 96,000 CUP.
500 EUR = 240,000 CUP.
Meanwhile, it remains unclear what happened to "the floating rate" announced since the end of 2024 by Prime Minister Manuel Marrero, who announced changes in order to attempt to close the gap between the official and informal value of currencies.
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