The informal currency market in Cuba shows signs of stabilization this Sunday, following a week marked by the rise of the euro. According to monitoring by elTOQUE, exchange rates remain unchanged compared to the previous day:
This pause in fluctuations occurs after the euro reached a new historical record of 420 Cuban pesos last Tuesday, solidifying its position as the strongest currency in the Cuban informal market.
Informal exchange rate in Cuba Sunday, June 29, 2025 - 06:00
- Dollar exchange rate (USD) to Cuban pesos CUP: 380 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 420 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 260 CUP
According to the evolution graphs from the last week, the euro has experienced a steady rise, increasing from 413 CUP on Sunday, June 22, to 420 CUP on Tuesday, June 24, a historical record that fluctuated for a few hours before stabilizing on Thursday up to the present date.
Exchange Rate Evolution
The dollar, for its part, has maintained a stable exchange rate at 380 CUP over the past few days, while the MLC continues to hit historical lows and consolidates its stability at 260 CUP. In contrast to the European currency, the dollar's chart shows a perfectly flat line: a steadfast 380 CUP for seven consecutive days.
The absence of concrete measures by the government to reform the currency system has contributed to market volatility.
Despite the announcements made in 2024 regarding the implementation of a floating exchange rate, the authorities have indefinitely postponed this measure, citing the need to minimize risks in a context of foreign currency scarcity and low market supply.
The current stabilization could be temporary, as the structural conditions that led to the recent rise of the euro persist. The lack of a clear exchange rate policy and the coexistence of multiple exchange rates continue to create uncertainty among the population and economic agents.
In this scenario, the informal market remains the main reference for acquiring foreign currency, reflecting the tensions and imbalances in the Cuban economy. The evolution of the rates in the coming days will largely depend on market expectations and any signals the government may emit regarding potential reforms.
The calm of this Sunday does not eliminate the underlying factors: shortage of foreign currency, distrust in the Cuban peso, and lack of progress in the promised monetary reform. With no clear signals from the government, the informal market continues to prevail as the real reference for street transactions.
Although the "breather" is momentary, the recent evolution of the euro suggests that the pressure remains latent. Any external event—whether economic or political—could trigger new increases in the coming days.
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