In recent hours, the euro, the European currency that has been hitting record after record for almost two months, has unexpectedly dropped by three pesos in one go.
After reaching a record of 430 CUP on Monday, for the second consecutive day the European currency takes a step back and drops today to 425 CUP.
The dollar and the Free Convertibility Currency (MLC) remain unchanged compared to the previous day.
The US dollar is still valued at 385 CUP, and the MLC at 230.
Exchange Rate Evolution
In terms of the median values, it is noteworthy that the dollar reaches 387 CUP for sale, which could be an indication that its price will soon increase.
Meanwhile, in recent hours, it was news that the Prime Minister, Manuel Marrero, confirmed that the promised transformation of the official currency market will take place in the second half of this year.
During a plenary session of the National Assembly this Wednesday, Marrero included changes in the foreign exchange market as one of the "tasks" to be undertaken soon, although he did not provide further details.
Exchange rate today 07/16/2025 - 1:21 p.m. in Cuba:
Dollar exchange rate 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: 230 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for July 16:
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 bills (EUR) to Cuban Peso (CUP):
1 EUR = 425.
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 Currency Market in Cuba
Why has the euro experienced a drop in the Cuban informal market?
The euro has experienced a drop due to fluctuations in the informal market, where factors such as supply and demand, and economic expectations play a crucial role. In this context, the euro fell from a record of 430 CUP to 425 CUP, reflecting the instability of this market.
What impact does the promise of currency reform have in Cuba?
The promise of currency reform from Prime Minister Manuel Marrero could bring significant changes to the official exchange market, although no concrete details have been provided so far. This promise raises expectations in a context where the Cuban economy faces severe distortions and inequalities due to multiple exchange rates.
How have the dollar and the MLC behaved in the Cuban informal market?
In recent days, the dollar and the freely convertible currency (MLC) have remained virtually unchanged compared to the previous day. The dollar is still valued at 385 CUP and the MLC at 230 CUP, reflecting a relative stability compared to the behavior of the euro.
What challenges does the implementation of a floating exchange rate face in Cuba?
The implementation of a floating exchange rate in Cuba faces the challenge of minimizing risks amid the scarcity of foreign currency and goods. Despite the alternatives considered, the high associated risks and the fragmentation of the exchange market complicate its viability in a centralized state system.
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