Neither up nor down, for the moment, currencies remain stable in the informal exchange market in Cuba, according to the daily report from elTOQUE this Thursday.
Second day of calm, following a streak of and a more modest rise of the dollar.
This week, that trend was followed by a new episode in the unfortunate decline of the MLC, which seems doomed to disappear.
At 11:00 a.m. (Cuban local time) on July 10th, the U.S. dollar remains valued at 385 CUP; the euro at 425, and the MLC at 240 pesos, all the same as the previous day.
Exchange Rate Evolution
The median value remains noteworthy, as the sale of the euro is at 430 CUP. We will have to wait and see whether such an increase -which would be a record- solidifies in the coming hours.
Exchange rate today 10/07/2025 - 11:11 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 385 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 425 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 240 CUP.
elTOQUE under fire: teleSUR attacks the exchange rate of the independent media
A recent article published by teleSUR and reproduced by Cubadebate accuses elTOQUE of participating in a U.S. strategy to destabilize Cuba through the manipulation of informal exchange rates.
This is just another chapter in an old narrative of the official Cuban discourse, which lacks solid evidence and omits the internal causes of the economic crisis on the island.
ElTOQUE does not set the market; it merely reflects existing dynamics in an environment without reliable official data.
Blaming the environment for the devaluation of the peso ignores the structural imbalances that lead to the rise of the informal market.
In response to these accusations, elTOQUE has responded this Thursday that its methodology is “transparent, scientific, and free from political manipulation”, validated by academic research, including a publication in Applied Economics, and even recognized by Cuban authorities such as the Minister of Economy.
They also argued that they maintain an independent and open editorial policy, with public documentation of their sources and processes.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this July 10:
1 USD = 385 CUP.
5 USD = 1,925 CUP.
10 USD = 3,850 CUP.
20 USD = 7,700 CUP.
50 USD = 19,250 CUP.
100 USD = 38,500 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 425 CUP.
5 EUR = 2.125 CUP.
10 EUR = 4,250 CUP.
20 EUR = 8,500 CUP.
50 EUR = 21,250 CUP.
100 EUR = 42,500 CUP.
200 EUR = 85,000 CUP.
500 EUR = 212,500 CUP.
Frequently Asked Questions about the Informal Currency Market in Cuba
What is the current exchange rate of the dollar in the informal Cuban market?
The dollar remains at 385 CUP in the Cuban informal market as of July 10, 2025, according to the independent outlet elTOQUE.
Why is the freely convertible currency (MLC) losing value in Cuba?
The MLC seems doomed to disappear due to a combination of factors, including a lack of confidence in its stability and the government's focus on other forms of currency. The planning of new stores that exclude MLC cards reinforces this trend.
How does elTOQUE respond to the accusations of currency market manipulation?
In response to accusations of manipulation, elTOQUE asserts that its methodology is transparent and scientific, free from political manipulation, and validated by academic research. Its role is to reflect existing dynamics in an environment lacking reliable official data.
What is the economic impact of the informal foreign exchange market in Cuba?
The informal currency market affects the purchasing power of Cubans, as informal exchange rates determine the actual cost of living in an economy marked by scarcity and inflation. The volatility of currencies impacts the ability to acquire essential products and creates economic uncertainty.
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