The informal currency market in Cuba experienced a new record rise in the euro this Monday following the shake-up of the dollar on Sunday: the common currency of the European Union rose to 505 pesos, the dollar remains at 445 CUP, and the MLC also remains at 210 pesos from the previous day.
Informal exchange rate in Cuba Monday, October 6, 2025 - 12:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 445 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 505 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 210 CUP
The euro, which last Wednesday broke the symbolic threshold of 500 CUP, continues its record rise, establishing itself as the most expensive currency in the market. The apparent stability of recent days did not indicate calm: analysts warned that it was a “temporary support point” before new increases, which are now being confirmed.
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 gulf between government rhetoric and market reality.
The dollar, for its part, which gained over 20 pesos in just a week, reflects the strong pressure on the national currency amid a context of shortages, persistent inflation, and the lack of effective economic measures by the government.
Exchange Rate Evolution
The question echoes once again in the streets and on social media: how far and how long can the Cuban peso withstand this unstoppable rise of foreign currencies?
Frequently Asked Questions about the Informal Currency Market in Cuba
Why has the euro reached such a high value in the Cuban informal market?
The euro has reached a record value of 505 Cuban pesos (CUP) due to its high demand in a context of rampant inflation and scarcity of supply, particularly in comparison to the dollar. Furthermore, the euro is widely used for international transactions and remittances from Europe, increasing its appeal as a safe haven against the depreciation of the Cuban peso.
What is the current situation of the dollar in Cuba's informal market?
The dollar remains at 445 CUP in the Cuban informal market. Although it has experienced a moderate increase in recent days, accumulating more than 20 CUP in a week, it continues to be an important reference currency for many daily transactions. The pressure on the national currency, in a context of shortages and a lack of effective economic measures, contributes to its appreciation.
How does the rise of the euro and the dollar affect the purchasing power of Cubans?
The rise of the euro and the dollar negatively affects the purchasing power of Cubans, as salaries and pensions in Cuban pesos lose value against foreign currencies. This means that Cubans experience a reduction in their buying capacity, especially for products and services tied to these currencies, exacerbating the economic and social crisis on the island.
What is the Freely Convertible Currency (MLC) and what is its current situation in Cuba?
The Freely Convertible Currency (MLC) remains stable at 210 CUP in the Cuban informal market, although it has shown volatility in recent weeks. It is used for purchases in state stores and, despite its recent stability, it still lags behind the official value of 120 CUP, reflecting the gap between government rhetoric and market reality.
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