Another day of partial activity in Cuba's informal currency market, although this Wednesday only the freely convertible currency (MLC) is experiencing changes, specifically a new drop, adding to the many it has seen in the past month.
At 7:00 a.m. (Cuban local time) the MLC drops by five pesos, now standing at 200 CUP, exactly half the current price of a dollar in the informal market.
The euro and the US dollar, on the other hand, solidify the values they reached the previous day: the European currency remains at 450 CUP and the dollar at 400, record highs in both cases, which reflects the crisis of the Cuban peso.
As Efraín González stated in a recent analysis article for Cubanet, the Cuban peso has become "a kind of zombie in the Cuban economy", because in reality, it is neither alive nor dead.
Exchange Rate Evolution
The MLC also left a message with an epitaph-like tone: "The initials MLC can confuse outsiders. It is neither a currency nor something that we could 'freely convert.' It was the aborted offspring of the late CUC and is nothing but the remittance dollar that GAESA turns into a voucher, useful only for purchasing very little and in certain state-run stores controlled by the military.
Mientras tanto, el gobierno cubano sigue sin dar pistas sobre la llegada de cambios que podrían, tal vez, ¿mudar las reglas del juego?
In July, Manuel Marrero announced transformations in the official foreign exchange market in Cuba, changes that -as indicated- are expected for the second half of the year. However, in the meantime, the dollar and the euro are setting new records while the MLC struggles.
Exchange rate today 08/13/2025 - 7:47 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: 200 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of August 13:
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 (EUR) banknotes 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.
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