The U.S. dollar increased in value again this Sunday in the informal Cuban market, reaching a record high of 435 Cuban pesos (CUP), according to the independent observatory elTOQUE.
With this increase of five pesos since Saturday, the U.S. dollar consolidates a rising trend that directly impacts the economy of the population, which is becoming increasingly dependent on foreign currencies to access basic goods and services.
Escalation in recent days
The price of the dollar has shown an upward trend in recent days.
On Thursday, September 25, the U.S. dollar had already reached 430 CUP, a figure that was repeated on Friday and Saturday. This Sunday, it finally broke that ceiling, settling at 435 CUP, confirming the accelerated deterioration of the Cuban peso.
Exchange Rate Evolution
The euro, for its part, has also recorded a sustained increase: it has been rising gradually day by day, reaching this Sunday 495 CUP, near the symbolic threshold of 500 pesos.
Meanwhile, the Freely Convertible Currency (MLC), which had shown volatility in previous weeks, rose from 205 CUP on Saturday to 210 CUP this Sunday, the same level it reached on Thursday and Friday.
Exchange rate today 09/28/2025 - 12:50 PM in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 435 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 490 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 210 CUP.
A devastating impact on daily life
The simultaneous rise in the value of the dollar and the euro represents a harsh blow for most Cubans, whose salaries and pensions are paid in pesos and lose value with each new increase in foreign currencies.
The rise of these currencies has a direct impact on the prices of essential imported goods, ranging from food to medications, as well as fuel, appliances, and airline tickets.
Those who rely solely on income in CUP see their purchasing power drastically reduced, while those receiving remittances in foreign currency multiply the value of those transfers, deepening social inequalities.
The gap between those who have access to foreign currency and those who do not is widening every day, in a scenario marked by scarcity, inflation, and a lack of alternatives in the official market.
The euro leads the trend
Although the headline this Sunday features the dollar, the euro has been the currency that has appreciated the most throughout 2025, surpassing its own records in the informal market several times.
The high demand for the European currency, coupled with its lower availability compared to the dollar, has made it the main reference for many Cubans looking to protect their savings or engage in international transactions.
Specialists warn that unless the official supply of foreign currency is expanded or significant economic reforms are implemented, the Cuban peso will continue to lose ground.
Everything indicates that, if the trend continues, both the dollar and the euro will continue to reach record figures for the remainder of the year.
Frequently Asked Questions about the Rise of the Dollar and Euro in the Cuban Informal Market
What is the impact of the dollar's rise on the informal market in Cuba?
The rise of the dollar in the informal Cuban market represents a harsh blow for the population, as it raises the prices of essential imported goods and drastically reduces the purchasing power of those who earn salaries in Cuban pesos (CUP). Economic inequality is exacerbated, favoring those with access to foreign currency.
Why is the euro becoming more expensive than the dollar in Cuba?
The euro has shown a significant increase in value due to its high demand and lower availability compared to the dollar. Many Cubans are looking to protect their savings in euros or conduct international transactions, which has made the European currency a primary reference in the informal market.
What factors are driving the rise of the dollar and the euro in the Cuban informal market?
The factors driving this increase include the scarcity of foreign currency in official channels, persistent inflation, and a lack of confidence in the Cuban peso. The decline in domestic production and the high demand for dollars and euros for private imports and savings also play a role.
What is the current economic situation in Cuba regarding the national currency?
The Cuban economy is in a critical situation, characterized by the accelerated depreciation of the Cuban peso and a cycle of stagflation. The combination of inflation, economic stagnation, and unemployment is eroding the purchasing power of the population and increasing dependence on the informal market to access foreign currency.
Filed under: