The informal foreign exchange market in Cuba opened this Friday, August 15 unchanged, remaining at the record values reached earlier in the week.
According to published data from elTOQUE, the US dollar remains at early morning hours at 400 Cuban pesos (CUP), the euro at 450 CUP, and the Convertible Foreign Currency (MLC) at 200 CUP.
After several days of fluctuations, the stability recorded on August 15 confirms the consolidation of prices which, while welcomed by those seeking predictability, also reflects the ongoing depreciation of the Cuban peso.
The MLC, created as a control mechanism for foreign currency within the country, continues to generate criticism. This week, analyst Efraín González described it in Cubanet as "the aborted offspring of the late CUC" and "a useful bond only for buying very little and in certain state-run stores controlled by the military."
Exchange Rate Evolution
Meanwhile, the Cuban government continues to withhold details about the "transformations" in the official currency exchange market that Prime Minister Manuel Marrero announced for the second half of the year.
A month after the statements, no measures have been implemented, and expectations are fading amid official silence.
Exchange rates for 08/15/2025 — 7:55 am
USD: 1 = 400 CUP | 100 = 40,000 CUP
EUR: 1 = 450 CUP | 100 = 45,000 CUP
MLC: 1 = 200 CUP
As inflation and shortages impact purchasing power, the population continues turning to the informal market for accessing currencies, while the Cuban peso continues to lose ground against the dollar and the euro.
Currently, remittances from emigrants are the main support for millions of households across the country.
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