Going downhill without brakes, that's how the Libremente Convertible Currency (MLC) is performing, continuing its free-fall streak in the Cuban informal market this Sunday.
At 10:00 a.m. (Cuban local time), the MLC is sold at an average of 232 CUP, three pesos less than the previous day.
From June 28 to July 13, the Convertible Currency has dropped from 260 CUP to 232. It has decreased by 28 pesos in just two weeks.
Exchange Rate Evolution
On social media, some are starting to predict "that it will go off the air" before the summer ends.
Regarding dollars and euros, this Sunday remains unchanged from yesterday: the US dollar at 385 CUP and the European euro at 425.
Exchange rate today 07/13/2025 - 10:06 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 of MLC to CUP according to elTOQUE: 232 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this July 13th:
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 banknotes (EUR) 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.
A recent article published by teleSUR and reproduced by Cubadebate accused elTOQUE of participating in a U.S. strategy to destabilize Cuba through the manipulation of informal foreign exchange market rates, which represents another chapter in an old narrative from the Cuban official discourse, lacking solid evidence and overlooking the internal causes of the economic crisis on the island.
elTOQUE does not set the market; it only reflects existing dynamics in an environment lacking reliable official data.
Blaming the environment for the devaluation of the peso overlooks the structural imbalances that lead to the rise of the informal market.
In response to these accusations, elTOQUE stated 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.
Frequently Asked Questions about the Collapse of the Freely Convertible Currency (MLC) in Cuba
Why is the value of the MLC falling in the Cuban informal market?
The Freely Convertible Currency (MLC) has experienced a decline in its value due to a decrease in demand and an increase in supply in the Cuban informal market. Since the end of June, the MLC has shown a downward trend, falling from 260 CUP to 232 CUP in two weeks. This behavior reflects economic instability and a lack of confidence in this virtual currency, used for transactions in state-owned stores.
How do the allegations of rate manipulation affect elTOQUE?
The medium elTOQUE has been accused of manipulating informal market rates as part of a strategy to destabilize Cuba; however, elTOQUE maintains that its methodology is transparent and politically uninfluenced. These accusations overlook the internal economic imbalances affecting the country. elTOQUE asserts that it merely reflects market dynamics, relying on data collected and validated by academic research.
What is the current situation of the dollar and the euro in Cuba?
Currently, the dollar stands at 385 CUP and the euro at 425 CUP in the Cuban informal market. Despite the global decline of the dollar, Cuba has witnessed a steady increase in its value over the past few weeks. In contrast, the euro has shown relative stability, albeit with minor fluctuations, reflecting the complexity of the Cuban economy and its dependence on the informal market.
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