The informal currency market in Cuba kicked off this Sunday, October 5, with a new jolt: the US dollar (USD) soared to 445 Cuban pesos (CUP), gaining four points in just 24 hours and reaching its highest level so far this year.
The euro (EUR) remains at 500 CUP, while the Freely Convertible Currency (MLC) holds steady at 210 CUP, following a week of slight fluctuations.
Unofficial exchange rate in Cuba Sunday, October 5, 2025 - 06:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 445 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 500 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 210 CUP
The rise of the dollar confirms the upward trend that has dominated the market since the end of September and widens the gap between the value of foreign currencies and the purchasing power of the Cuban peso.
Exchange Rate Evolution
In just a week, the greenback has gained over 20 pesos, reflecting the strong pressure on the national currency in a context of shortages, persistent inflation, and the absence of effective economic measures from the government.
The euro, which last Wednesday broke the symbolic threshold of 500 CUP, remains at this record level, solidifying its position as the most expensive currency in the market. The apparent stability of recent days does not imply calm: analysts warn that it could represent a "temporary support point" before further increases if the demand for foreign currency continues to rise.
In contrast, the MLC —used for purchases in state stores— remains stable at 210 CUP, although its behavior in recent weeks shows latent volatility. Its price is still far from the official value of 120 CUP, highlighting the vast gap between government rhetoric and market reality.
With this new surge, the dollar has accumulated an appreciation of over 5% in just seven days. The consulted experts indicate that the Cuban peso remains trapped in a vicious cycle: lacking confidence, productive backing, and a coherent exchange rate policy.
The question echoes once again in the streets and on social media: how much longer can the Cuban peso withstand this unstoppable rise of foreign currencies?
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