Another day without movement in sale values; that has been the trend for the third consecutive day in the informal currency trade in Cuba this Tuesday, as revealed by the daily report from the independent media elTOQUE.
The dollar remains valued at 387 CUP; and the euro also remains unchanged, staying at 435 CUP per unit.
In the case of the Freely Convertible Currency (MLC), the virtual currency used by the regime in some stores, it currently remains at 225 CUP.
Despite not showing visible changes, the median trading values from the last 24 hours reveal selling prices for the euro at 440 CUP; and a surge to 390 in the case of the US dollar.
Exchange Rate Evolution
Exchange rate today 07/22/2025 - 11:06 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 387 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 435 CUP.
T exchange rate from MLC to CUP according to elTOQUE: 225 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), based on the exchange rates as of July 22:
1 USD = 387 CUP.
5 USD = 1,935 CUP.
10 USD = 3,870 CUP.
20 USD = 7,740 CUP.
50 USD = 19,350 CUP.
100 USD = 38,700 CUP.
Equivalence of Euro (EUR) notes to Cuban Peso (CUP):
1 EUR = 435 CUP.
5 EUR = 2.175 CUP.
10 EUR = 4,350 CUP.
20 EUR = 8,700 CUP.
50 EUR = 21,750 CUP.
100 EUR = 43,500 CUP.
200 EUR = 87,000 CUP.
500 EUR = 217,500 CUP.
Last week, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of the People's Power that a new "management, control, and currency allocation mechanism" will be implemented in the second half of 2025, as part of the called “Government Program to correct distortions and revitalize the economy.”
According to Marrero, the new model will include the transformation of the official foreign exchange market, the consolidation of financing schemes, and the supposed more efficient redistribution of foreign currency generated by state-owned enterprises.
Meanwhile, the informal market continues to set the trend, the Cuban peso is worthless, and remittances from emigrants are the support for millions of households.
Cubans are still forced to buy dollars on the street to purchase food, medications, or to pay for immigration procedures, in an economy where everything costs more if paid in MLC.
For a long time, experts have warned that any attempt to reorganize the currency system without an inclusive policy will only deepen inequality. Without real access to foreign currency, the population remains trapped in a parallel economy that punishes the most vulnerable.
Frequently Asked Questions about the Informal Currency Market in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
The exchange rate of the dollar in the Cuban informal market is 387 CUP. This rate has remained stable in recent days, although the median of buying and selling values suggests that it may increase to 390 CUP.
How does the informal exchange rate of currencies affect the Cuban economy?
The informal currency exchange rate significantly affects the purchasing power of Cubans, as it determines the cost of basic goods and services in an economy characterized by scarcity and inflation. The reliance on the informal market for obtaining currency increases inequality and hinders access to essential goods.
What measures has the Cuban government announced to control the foreign exchange market?
The Cuban government has announced a new "management, control, and allocation mechanism for currency" for the second half of 2025. This plan includes the transformation of the official exchange market and the consolidation of financing schemes, although experts criticize the lack of an inclusive policy that could deepen inequality.
Why do Cubans rely so heavily on the informal currency market?
Cubans depend on the informal foreign exchange market because it is the only way to obtain dollars, euros, and MLC, which are necessary to purchase essential goods in stores that only accept these currencies and to carry out transactions in the black market. The devaluation of the Cuban peso against these currencies has increased inflation and scarcity.
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