The currencies start the week with no changes in their average selling values in the Cuban informal market, although the euro and the dollar are at risk of continuing to rise soon.
At 9:00 a.m. (local time) this Monday, the dollar remains priced at 390 CUP.
Also unchanged are the euro, which remains at 440 pesos; and the Freely Convertible Currency (MLC), at 220 CUP.
However, the median values from the last 24 hours indicate potential increases on the horizon for the euro and the dollar: the median selling price of the European currency is 445 CUP, and that of the dollar is 395 CUP, representing increases of five pesos each, according to monitoring conducted by the independent media elTOQUE.
Exchange Rate Evolution
Exchange rate today 07/28/2025 - 9:36 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 390 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 440 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 as of July 28:
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 (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 440 CUP.
5 EUR = 2,200 CUP.
10 EUR = 4,400 CUP.
20 EUR = 8,800 CUP.
50 EUR = 22,000 CUP.
100 EUR = 44,000 CUP.
200 EUR = 88,000 CUP.
500 EUR = 220,000 CUP.
In mid-month, 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 Reinvigorate 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 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 lifeline for millions of households.
Cubans are still forced to buy dollars on the street to purchase food, medicines, or to pay for immigration procedures.
For some time now, various economists have warned that any attempt to reorganize the exchange system in Cuba without an inclusive policy will only serve to 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 foreign exchange market in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
The exchange rate for the dollar in the Cuban informal market is 390 CUP. This value has remained stable, although a potential increase is expected in the coming days. The median of values over the last 24 hours suggests a rise to 395 CUP.
How does the euro behave in Cuba's informal market?
The euro remains at 440 CUP in the informal Cuban market. However, the median values suggest it could rise to 445 CUP in the short term, representing a slight increase compared to previous days.
What is the Freely Convertible Currency (MLC) and what is its current value?
The Freely Convertible Currency (MLC) is a virtual currency used in some Cuban stores. Currently, its value in the informal market is 220 CUP. Despite its stable value, there have been fluctuations in the recent past.
What changes are being implemented in the official currency exchange market in Cuba?
A new management, control, and allocation mechanism for currency will be implemented in the second half of 2025. According to the Cuban Prime Minister, Manuel Marrero Cruz, this model aims to transform the official currency market and improve efficiency in the redistribution of foreign currency generated by state-owned enterprises. However, experts warn that without an inclusive policy, these measures could increase inequality.
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