After three days of calm, the informal currency market in Cuba closes the month with updates: the price of the dollar rises while that of the freely convertible currency (MLC) falls.
At 8:00 a.m. (Cuban local time) this Monday, the dollar is selling for an average of 382 CUP, two pesos more compared to its value since June 21.
In the case of the MLC, it drops suddenly by five units and settles at 255 CUP.
Only the euro remains unchanged today, still priced at 420 CUP, a record figure that the European currency reached last Thursday.
Exchange Rate Evolution
Regarding the median selling values in the last 24 hours, there are increases in both the euro and the dollar; the European currency is selling for up to 422 CUP and the dollar for 385, as revealed in the daily report from elTOQUE.
We will have to see if there are any further price increases in the coming hours, or not.
Exchange rate today 06/30/2025 - 8:12 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 382 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 420 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 255 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this June 30th:
1 USD = 382 CUP.
5 USD = 1,910 CUP.
10 USD = 3,820 CUP.
20 USD = 7,640 CUP.
50 USD = 19,100 CUP.
100 USD = 38,200 CUP.
Equivalence of Euro bills (EUR) to Cuban Peso (CUP):
1 EUR = 420 CUP.
5 EUR = 2,100 CUP.
10 EUR = 4,200 CUP.
20 EUR = 8,400 CUP.
50 EUR = 21,000 CUP.
100 EUR = 42,000 CUP.
200 EUR = 84,000 CUP.
500 EUR = 210,000 CUP.
This month it was reported that the implementation of a floating exchange rate announced for 2025 has been put on hold.
In the ANEC Congress held in early June, the Minister of Economy, Joaquín Alonso, admitted that although "alternatives are being analyzed", it is necessary to "minimize risks" given the severe shortage of currencies and products.
"We have already defined the actions for each stage, but the risk is high. Any measure must ensure that the exchange rate does not skyrocket," he pointed out.
The Cuban economy operates today with at least three exchange rates: an official rate for businesses (24 CUP), a banking rate for the population (120 CUP), and an informal market rate (around 380 CUP in the case of the dollar).
This fragmentation, characterized as a "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 is unprecedented in Cuba, and questioned its viability under a centralized state system.
Other analysts, such as Mauricio de Miranda, have proposed 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 Informal Currency Market in Cuba
What is the current price of the dollar in the informal Cuban market?
The dollar is currently selling for 382 CUP in the Cuban informal market, with a median buying and selling value that places it as high as 385 CUP, according to elTOQUE.
How has the price of the MLC varied in the informal market?
The price of the Freely Convertible Currency (MLC) has dropped to 255 CUP in the Cuban informal market, marking a decrease of five units compared to previous days.
What is happening with the implementation of the floating exchange rate in Cuba?
The implementation of a floating exchange rate in Cuba has been put on hold. The Minister of Economy, Joaquín Alonso, stated that it is necessary to "minimize risks" due to the severe shortage of foreign currency and products, and the current fragmentation of the exchange rate system is exacerbating economic inequality.
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