The US dollar surpassed the psychological barrier of 400 Cuban pesos (CUP) in the informal market this Tuesday, reaching a new historical record that confirms the upward trend of recent weeks and the increasing depreciation of the national currency, with which the State pays millions of its workers.
According to the reference rate from elTOQUE, as reported by CiberCuba, the US dollar is currently valued at 402 CUP, following a month of sustained increases that solidify the greenback as the most sought-after currency on the island.
Tuesday, August 19, 2025 - 06:00
- Exchange rate of the dollar (USD) to Cuban pesos (CUP): 402 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 450 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 200 CUP
A month of constant increases
In mid-July, the dollar hovered around 387 pesos, and closed that month at approximately 390 CUP. Since then, its value has continued to rise: on July 31, it reached 395 CUP, eight days later it went up to 397, on August 12 it reached its historic high of 400 pesos, and finally, on August 19, it broke the 400 peso mark.
Exchange Rate Evolution
In just four weeks, the U.S. dollar appreciated by more than 15 CUP, reflecting both the loss of confidence in the national currency and the preference for cash in foreign currencies for commercial and saving operations.
Euro and MLC: different paths
The euro followed a similar trajectory, rising from 436 CUP at the end of July to the current 450, another historical peak reached in mid-August, which strengthens the appeal of the European currency in a context of financial instability.
The Freely Convertible Currency (MLC), on the other hand, experienced a significant drop: from 225 CUP in July it fell to 200 CUP in recent days, confirming the lack of confidence in this digital currency created by the government of Miguel Díaz-Canel as part of the disastrous "economic and monetary ordering" of the Cuban regime.
An ever-widening gap
The disparity between the major currencies highlights the fragility of the Cuban exchange system. While the dollar and the euro continue to strengthen, the peso is sinking and the MLC is rapidly depreciating, widening the gap between the official and informal markets, and further impoverishing the salaries of Cuban workers.
For many Cubans, this escalation means an immediate increase in the prices of products and services, particularly food and imported goods, which are calculated based on the dollar.
With the exchange rate above 400 CUP, inflationary pressure on households is becoming increasingly strong, and there are no signs of stabilization in the short term.
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