The dollar is increasing in price in Cuba.
At dawn this Thursday, the U.S. dollar rises to 392 CUP in the Cuban informal market. This figure represents an increase of two pesos compared to the average selling price it maintained since July 24.
In the case of the other two currencies, there are no changes compared to the previous day: the euro remains valued at 440 pesos; and the Freely Convertible Currency (MLC) stays at 220 CUP.
Another piece of information from the day is that the median values for buying and selling over the last 24 hours, according to monitoring conducted by elTOQUE, forecasts new increases for the dollar, which reaches 395 CUP, getting closer to the threshold of 400.
Exchange Rate Evolution
The median sale price of the euro also rises, now standing at 445 CUP. Surprisingly, the sale of MLC also rebounds, with the median increasing to 225 CUP.
Exchange rate today 07/31/2025 - 8:22 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 392 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 on July 31:
1 USD = 392 CUP.
5 USD = 1,960 CUP.
10 USD = 3,920 CUP.
20 USD = 7,840 CUP.
50 USD = 19,600 CUP.
100 USD = 39,200 CUP.
Equivalence of Euro bills (EUR) 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 the month that is now ending, 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 main support for millions of households across the country.
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 currency system in Cuba without an inclusive policy will only serve to exacerbate 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 Dollar Increase in Cuba
What is the exchange rate for the dollar in the Cuban informal market at the end of July 2025?
The dollar is trading at 392 CUP in the Cuban informal market, marking an increase compared to previous weeks and suggesting a possible rise in the near future.
What is the current situation of the euro and the MLC in Cuba?
The euro remains at 440 CUP while the Convertible Currency (MLC) is valued at 220 CUP, although both currencies show signs of a possible increase in their values in the coming days, according to the median trading values.
What measures does the Cuban government plan to implement regarding the currency exchange system?
The Cuban Prime Minister, Manuel Marrero Cruz, announced a new "management, control, and allocation mechanism for currency" for the second half of 2025, which includes the transformation of the official currency market and the supposed more efficient redistribution of the foreign currency generated by state-owned enterprises.
Why does the Cuban population rely on the informal market to access foreign currency?
Cuban citizens are forced to turn to the informal currency market due to a lack of real access to foreign currency through official channels, which creates a parallel economy that penalizes the most vulnerable and deepens economic inequality in the country.
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