For the second consecutive day, the dollar, the euro, and the freely convertible currency (MLC) have not changed in their average selling values in the Cuban informal market.
At 11:00 a.m. (local time) this Monday, the dollar remains valued at 390 CUP.
Also unchanged is the euro, which remains at 440 pesos; and the freely convertible currency (MLC), at 220 CUP.
The median value from recent hours keeps the sale of the dollar at 392 CUP, which could indicate that the U.S. dollar might rise in price.
Exchange Rate Evolution
Exchange rate today, 07/29/2025 - 11:08 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 Dollars (USD) to Cuban Pesos (CUP), based on the exchange rates from July 29:
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 the middle of this month, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of People's Power (ANPP) that "a new mechanism for the management, control, and allocation of currency" will be implemented in the second half of 2025, as part of the so-called Government Program to correct distortions and re-boost 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 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 becomes trapped in a parallel economy that punishes the most vulnerable.
Frequently Asked Questions about the Black Market for Foreign Currency in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
The exchange rate of the dollar in the informal Cuban market is 390 CUP. This value has remained unchanged in recent days, although the median of values suggests that it may increase soon.
What is the exchange rate of the euro on the black market in Cuba?
The euro is trading at 440 CUP in the Cuban black market. Similar to the dollar, it has not shown recent changes, but there is a possibility of an increase in the coming days.
What is the Freely Convertible Currency (MLC) and what is its value in Cuba?
The freely convertible currency (MLC) is a virtual currency used in some stores in Cuba. Currently, its value on the informal market is 220 CUP.
What economic changes has the Cuban government announced for the second half of 2025?
The Cuban government has announced a new mechanism for the management, control, and allocation of foreign currency. This plan aims to transform the official exchange market and improve the redistribution of foreign currency generated by state-owned enterprises. However, there is skepticism about its effectiveness due to past experiences.
Why do Cubans rely on the informal currency market?
Cubans rely on the informal currency market because access to foreign currency through the official system is limited. This situation forces many to turn to the black market to obtain the necessary dollars and euros to meet basic needs such as food and medicine.
Filed under: