The informal currency market in Cuba is experiencing an upward trend, with reference currencies seeing price increases in recent hours, reaching record levels for both the dollar and the euro.
At 7:00 a.m. (Cuban local time) this Thursday, the U.S. dollar rises in value for the third consecutive day. It increases by two units compared to the previous day, reaching the threshold of 430 CUP per dollar.
Also, the euro reaches a record of 486 CUP this September 25. The European currency increases by one peso compared to its value on Wednesday.
There was also an increase today for the Freely Convertible Currency (MLC), which recovers five pesos and rises to 210 CUP, according to the daily report from elTOQUE.
Exchange Rate Evolution
Exchange rate today 09/25/2025 - 7:34 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 430 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 486 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 210 CUP.
The constant rise of the dollar and the euro in Cuba in recent weeks confirms the growing pressure on the national currency.
In July, Manuel Marrero announced transformations in the official currency market in Cuba, changes that -as he indicated- are expected to be implemented in the second half of the year. However, there are currently no updates on the matter.
In the 25 days that have passed in September, both the dollar and the euro have continuously increased in value.
On September 1st, the US dollar was trading at 410 CUP and the euro at 460; 25 days later, both have seen an increase of 20 and 26 pesos, respectively.
The most significant development has even been the rebound of the battered Convertible Currency. Despite the widespread belief that it is doomed to disappear, the MLC continues to fight back.
On September 1, it was being sold for 190 CUP; however, it has managed to rise by 30 pesos and is now at 210 pesos.
At the beginning of September, the Cuban regime announced that the average monthly salary in the country rose to 6,649 pesos during the first half of 2025, representing an increase of 16.4% compared to the same period in the previous year.
The data, released by the National Office of Statistics and Information (ONEI) and reproduced by Cubadebate, was presented as a positive indicator of the official economic policy.
However, far from providing relief for the population, this increase translates into little or nothing given the profound inflation crisis and the ongoing depreciation of the Cuban peso.
The numbers clash with the reality of everyday life: the informal market rate reveals that the dollar remains at 410 CUP, making this new average salary barely equivalent to about 16.22 dollars per month.
In other words, what a worker earns in a month is not enough to cover even a small part of their needs.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP) according to the exchange rates of this September 25th:
1 USD = 430 CUP.
5 USD = 2,150 CUP.
10 USD = 4,300 CUP.
20 USD = 8,600 CUP.
50 USD = 21,500 CUP.
100 USD = 43,000 CUP.
Euro (EUR) to Cuban Peso (CUP) bill equivalence:
1 EUR = 486 CUP.
5 EUR = 2,430 CUP.
10 EUR = 4.860 CUP.
20 EUR = 9,720 CUP.
50 EUR = 24,300 CUP.
100 EUR = 48,600 CUP.
200 EUR = 97,200 CUP.
500 EUR = 243,000 CUP.
Frequently asked questions about the foreign exchange market in Cuba
What is the exchange rate for the US dollar in Cuba's informal market?
The US dollar is trading at 430 CUP in Cuba's informal market, reaching a new record after rising two units compared to the previous day.
What is the price of the euro in the Cuban informal market?
The euro is trading at 486 CUP in the Cuban informal market, representing an increase of one peso compared to the previous day.
How is inflation affecting the average salary in Cuba?
Although the average monthly salary in Cuba has risen to 6,649 pesos, this increase provides little relief due to the deep inflationary crisis and the depreciation of the Cuban peso. In the informal market, the dollar is priced at 410 CUP, which means the average salary amounts to approximately 16.22 dollars per month.
What changes are expected in the official exchange market in Cuba?
The Cuban Prime Minister, Manuel Marrero, announced reforms in the official exchange market for the second half of 2025. However, there are no concrete updates regarding the implementation of these changes so far.
Filed under:
