In recent hours, the euro has taken a step back in Cuba.
The decline occurs after two consecutive days of increases in the informal market, which placed the European currency at a record high of 418 CUP per unit.
At dawn this Wednesday, the euro is valued at 415 CUP in Cuba, which is three pesos less than the value it reached this Tuesday.
Regarding the dollar, at 8:00 a.m. (Cuban local time) on June 25, it continues to sell for an average of 380 CUP, the price it reached on Saturday.
Exchange Rate Evolution
Also, the freely convertible currency (MLC) is stable in its selling values, remaining valued at 260 CUP for many days now.
Regarding the median values of sales in the last 24 hours, the slowdown of the euro is also reflected in the purchase price of the European currency, which has dropped to 410 CUP, according to the daily report from the independent media elTOQUE.
Exchange rate today 06/25/2025 - 8:04 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 380 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 415 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 260 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), based on the exchange rates of June 25:
1 USD = 380 CUP.
5 USD = 1,900 CUP.
10 USD = 3,800 CUP.
20 USD = 7,600 CUP.
50 USD = 19,000 CUP.
100 USD = 38,000 CUP.
Equivalence of bills in euros (EUR) to CUP
1 EUR = 410 CUP.
5 EUR = 2,050 CUP.
10 EUR = 4,100 CUP.
20 EUR = 8,200 CUP.
50 EUR = 20,500 CUP.
100 EUR = 41,000 CUP.
200 EUR = 82,000 CUP.
500 EUR = 205,000 CUP.
Cuban government cools off the promised currency reform
Meanwhile, it was recently reported that the announced implementation of a floating exchange rate in 2025 has been put on hold.
In the recent ANEC Congress, the Minister of Economy, Joaquín Alonso, acknowledged that, although "alternatives are being analyzed", it is necessary to "minimize risks" due to the serious shortage of foreign currency and products.
"We have already defined the actions for each stage, but the risk is high. Any measures must ensure that the exchange rate does not skyrocket," he pointed out.
The Cuban economy currently operates with at least three exchange rates: an official one for businesses (24 CUP), another banking rate for the population (120 CUP), and one in the informal market (over 370 CUP).
This fragmentation, described as "distortion" by the authorities themselves, exacerbates inequality.
The economist from the Observatory of Currencies and Finances of Cuba (OMFi), Pavel Vidal, already warned in December that a real floating rate has no precedent in Cuba, and questioned its viability under a centralized state system.
Other analysts, such as Mauricio de Miranda, have suggested including the private sector with regulated exchange houses.
"As long as the State maintains its economic monopoly, any adjustment will be an illusion," warned De Miranda.
Frequently Asked Questions about the Foreign Exchange Market in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
The exchange rate of the US dollar in the Cuban informal market is 380 CUP per unit, according to the report from the independent media elTOQUE on June 25, 2025.
What is the exchange rate of the euro in Cuba on the informal market?
Currently, the euro is priced at 415 CUP per unit in the informal market in Cuba, according to the exchange rate report from elTOQUE on June 25, 2025.
What is the exchange rate of the freely convertible currency (MLC) in Cuba?
The Freely Convertible Currency (MLC) remains stable at a value of 260 CUP in the Cuban informal market for several days now.
Why is it important to monitor exchange rates in Cuba?
In Cuba, tracking exchange rates is crucial because it determines real purchasing power in an economy marked by scarcity and inflation. The volatility of the informal market drives citizens to monitor currencies to protect their purchasing power and plan economic transactions.
What has happened with the promised currency reform in Cuba?
The Cuban government has halted the implementation of a planned floating exchange rate for 2025. This decision is due to the need to minimize risks amidst the severe shortage of foreign currency and products on the island, which has led to the postponement of the currency reform.
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