The informal currency market in Cuba opens this Saturday, December 13, 2025, with a new trend that confirms the uneven trajectory of the three main foreign currencies circulating on the island.
While the US dollar (USD) remains stable at 440 Cuban pesos (CUP), the euro (EUR) behaves similarly and is quoted this Saturday, just like the day before, at 485 CUP.
Informal exchange rate in Cuba Saturday, December 13, 2025 - 04:35
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 440 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 485 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 300 CUP
The Freely Convertible Currency (MLC), the most dynamic in recent weeks, reaches a new historical high of 300 CUP, following weeks of sustained growth.
Exchange Rate Evolution
The behavior of recent days reflects a dynamic in which the MLC —an electronic currency controlled by the State— has become the most sought after by Cubans, possibly driven by the announcements from the Cuban regime to establish an official exchange rate and promote the dollarization of the economy, decisions that may be strengthening the plastic money created by the regime.
In just one month, the MLC has skyrocketed by almost 40%, rising from around 215 CUP at the beginning of November to the current 300 CUP, according to the daily report from elTOQUE, an independent outlet that monitors the unofficial exchange market.
In contrast, the US dollar has remained virtually unchanged during the second week of December, fluctuating between 435 and 445 CUP. This stability does not reflect the real strength of the Cuban peso, but rather the caution of traders in light of increased surveillance and the regime's threats against informal currency trading.
The euro, for its part, continues to show weakness. After reaching 490–500 CUP at the end of November, it has lost nearly 15 pesos, now standing at 485 CUP, its lowest level since the beginning of the month.
The rise of the MLC reveals a central contradiction of the Cuban economic model: the currency created by the State to isolate the consumption of the majority of citizens has, paradoxically, become the most valued asset in the parallel market.
In the midst of a crisis economy, with persistent inflation, food and energy shortages, and wages that are insufficient to cover basic needs, the informal market remains the most reliable indicator of the real value of the Cuban peso.
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