Journey of changes in the Cuban informal market: the price of the dollar and the euro increases; while the Convertible Currency (MLC) decreases.
Thursday is particularly striking for what can be described as a "surge" of the dollar, considering that the US currency had been experiencing modest increases over the past several months, usually not exceeding one or two pesos at a time.
At dawn on this July 24th, the US dollar rises to 390 CUP, three pesos more than 387 CUP, which was its selling price since July 18th.
Although the median of buying and selling values had been indicating an imminent increase in the dollar for days, it was only today that the daily report from the independent outlet elTOQUE confirmed the increase.
Exchange Rate Evolution
The euro also increases, reaching 436 CUP, a modest rise of one peso, but it still represents a record figure in the informal sale of the European currency in Cuba.
The trend of the MLC is contrary, continuing to plummet and dropping suddenly by five units to settle at 220 CUP.
The average of the last 24 hours continues to indicate a selling price of 440 CUP for the euro, a recurring figure for the European currency in that regard for several days now.
Exchange rate today 07/24/2025 - 7:59 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 390 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 436 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 220 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on July 24th:
1 USD = 390 CUP.
5 USD = 1,950 CUP.
10 USD = 3,900 CUP.
20 USD = 7,800 CUP.
50 USD = 19,500 CUP.
100 USD = 39,000 CUP.
Equivalence of Euro bills (EUR) to Cuban Peso (CUP):
1 EUR = 436 CUP.
5 EUR = 2,180 CUP.
10 EUR = 4,360 CUP.
20 EUR = 8,720 CUP.
50 EUR = 21,800 CUP.
100 EUR = 43,600 CUP.
200 EUR = 87,200 CUP.
500 EUR = 218,000 CUP.
Last week, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of People's Power (ANPP) that a new "management, control, and currency allocation mechanism" will be implemented in the second half of 2025, as part of the so-called "Government Program to correct distortions and revitalize the economy".
According to Marrero, the new model will include the transformation of the official exchange market, the consolidation of financing schemes, and the supposed more efficient redistribution of the foreign currency generated by state-owned enterprises.
Meanwhile, the informal market continues to set the trend, the Cuban peso is worth less and less, and remittances from emigrants are the support for millions of households.
Cubans are still forced to buy dollars on the street to purchase food, medicines, or pay for immigration procedures.
For a long time, experts have warned that any attempt to reorganize the exchange system without an inclusive policy will only serve to deepen inequality. Without real access to foreign currency, the population is trapped in a parallel economy that punishes the most vulnerable.
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