The price of the dollar continues to surge in Cuba. At dawn on this Tuesday, the U.S. currency rises to 450 CUP, according to the daily report from the independent media elTOQUE.
The figure -which represents a record high for the dollar in the Cuban informal market- marks a sudden increase of five units compared to the 445 CUP it reached on Sunday.
In the last week, the dollar has risen by 12 CUP, continuing the trend of increases it has been experiencing for several weeks.
In the case of the euro, the European currency retains the 505 pesos it reached the day before on October 7.
Exchange Rate Evolution
The Freely Convertible Currency (MLC), on its part, has experienced a notable decline and volatility in recent months, remaining valued at 210 CUP since September 25.
Exchange rate today 07/10/2025 - 6:51 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 450 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 505 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 210 CUP.
Since late 2024, the Cuban government has announced its intention to introduce a floating exchange system in an attempt to close the gap between the official and informal value of currencies.
However, more than six months later, they have not provided details about its implementation.
Independent economists warn that any attempt to regulate the exchange system should start from a reference rate close to the Representative Rate of the Informal Market (TRMI).
That is to say, the Government would have to officially recognize prices four times higher than the current 120 CUP per euro maintained by state banks and official exchange houses (CADECA).
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this October 7:
1 USD = 450 CUP.
5 USD = 2,250 CUP.
10 USD = 4,500 CUP.
20 USD = 9,000 CUP.
50 USD = 22,500 CUP.
100 USD = 45,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 505 CUP.
5 EUR = 2.525 CUP.
10 EUR = 5,050 CUP.
20 EUR = 10,100 CUP.
50 EUR = 25,250 CUP.
100 EUR = 50,500 CUP.
200 EUR = 101,000 CUP.
500 EUR = 252,500 CUP.
Frequently Asked Questions about the Rise in Dollar Prices in Cuba
What is the new record price of the dollar in Cuba's informal market?
The dollar has reached a record value of 450 CUP in the informal Cuban market, according to the independent media outlet elTOQUE. This increase reflects the ongoing depreciation of the Cuban peso and a lack of confidence in the national currency.
What measures has the Cuban government announced for the foreign exchange market?
Since late 2024, the Cuban government has announced its intention to introduce a floating exchange rate system to narrow the gap between the official and informal values of currencies. However, details regarding its implementation have not yet been provided, creating uncertainty in the market.
What is the situation of the euro and the MLC in the Cuban informal market?
In the case of the euro, it remains at 505 CUP, while the Convertible Currency (MLC) is at 210 CUP. The volatility and decline of the MLC have been constant in recent months.
What do economists think about the exchange rate situation in Cuba?
Independent economists warn that any attempt to regulate the exchange system should begin with a reference rate close to the Representative Rate of the Informal Market (TRMI). This would mean acknowledging prices that are significantly higher than the current official currency values.
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