Change day for the three reference currencies in Cuba: The dollar and the euro rise, while the Convertible Currency (MLC) takes another step toward the abyss.
After the setback of this Monday, the dollar rises today by two pesos and reaches 400 pesos, a record selling price for the U.S. currency in the Cuban informal market; a threshold that many once anticipated would be exceeded.
Subidón aún más impresionante del euro, que este martes aumenta cinco pesos de golpe y se establece en 450 CUP, hundiendo aún más al peso cubano y también el poder adquisitivo de aquellos que no tienen acceso a esta u otras divisas.
It is truly shocking to think that just two euros can translate to 900 pesos in the informal exchange rate. This means that some pensioners in Cuba are currently earning the equivalent of only about three euros and a bit.
Exchange Rate Evolution
In July, Manuel Marrero announced transformations in Cuba's official currency market, changes that -as he indicated- are planned for the second half of the year.
Hurry up, because while the Cuban government is considering its umpteenth economic reform, the dollar and the euro are dancing to a record-breaking tune, while the MLC continues to struggle.
And today, the Convertible Currency drops by five pesos, now standing at 205 CUP, increasingly closer to falling below the threshold of 200.
While the MLC seems doomed to disappear, the dollar and the euro are strengthening, among other reasons due to the undeniable scarcity of foreign currency in official entities, inflation, decreased domestic production, and the high demand for dollars for private imports, travel, and savings.
The unfortunate reality is that this increase directly affects the purchasing power of the population, raising the cost of basic goods and services that rely on imports, and exacerbates economic inequality between those with access to foreign currency and those who depend solely on salaries in national currency.
Exchange rate today 12/08/2025 - 7:03 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 400 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 450 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 205 CUP.
Exchange rate of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on August 12:
1 USD = 400 CUP.
5 USD = 2,000 CUP.
10 USD = 4,000 CUP.
20 USD = 8,000 CUP.
50 USD = 20,000 CUP.
100 USD = 40,000 CUP.
Equivalence of Euro bills (EUR) to Cuban Peso (CUP):
1 EUR = 450 CUP.
5 EUR = 2,250 CUP.
10 EUR = 4,500 CUP.
20 EUR = 9,000 CUP.
50 EUR = 22,500 CUP.
100 EUR = 45,000 CUP.
200 EUR = 90,000 CUP.
500 EUR = 225,000 CUP.
Frequently Asked Questions about the Currency Market in Cuba
What is the current situation of the dollar and the euro in Cuba's informal market?
The dollar and the euro reached record figures in Cuba's informal market, with the dollar trading at 400 CUP and the euro at 450 CUP. This increase reflects the ongoing depreciation of the Cuban peso and the growing dollarization of the economy, which impacts the purchasing power of the population.
What has happened with the freely convertible currency (MLC) in Cuba?
The MLC has significantly fallen in the informal market, reaching 205 CUP. This depreciation is due to the lack of practical utility in an increasingly dollarized market and the shortage of goods in state stores that accept this currency, which has contributed to its loss of value.
How does the rise of the dollar and the euro affect the Cuban economy?
The rise of the dollar and the euro is making basic products and services more expensive, directly impacting the purchasing power of the population. This exacerbates economic inequality, as those without access to foreign currency face greater challenges in acquiring essential goods.
What measures is the Cuban government taking to address the currency crisis?
The Cuban government has announced changes in the official exchange market, scheduled for the second half of 2025. However, while these reforms are being considered, the informal market continues to dominate and the Cuban peso keeps losing value.
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