The euro rises again: that is the news coming from the informal currency market in Cuba this Wednesday morning.
In the last few hours, the European currency has risen to 507 CUP per unit, which represents two pesos more compared to the price it reached on October 6.
In the case of the dollar, the U.S. currency is holding steady at 450 CUP as it reached on Tuesday, according to the daily report from the independent media elTOQUE.
The Freely Convertible Currency (MLC), on the other hand, whose decline and volatility have been its predominant characteristics in recent months, remains valued at 210 CUP since September 25th.
Exchange Rate Evolution
Exchange rate today 08/10/2025 - 7:22 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: 507 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 210 CUP.
Since the end of 2024, the Cuban government has announced its intention to introduce a floating exchange system to try to close the gap between the official and informal values 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 currency 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 on this October 8:
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 = 507 CUP.
5 EUR = 2.535 CUP.
10 EUR = 5.070 CUP.
20 EUR = 10,140 CUP.
50 EUR = 25,350 CUP.
100 EUR = 50,700 CUP.
200 EUR = 101,400 CUP.
500 EUR = 253,500 CUP.
Frequently asked questions about the informal currency market in Cuba
What is the current exchange rate of the euro in the informal market in Cuba?
The euro is trading at 507 CUP in Cuba's informal market according to the latest report from the independent media outlet elTOQUE, which represents an increase compared to previous days.
How much is the US dollar being sold for in the Cuban informal market?
The dollar is quoted at 450 CUP in Cuba's informal market, maintaining the value reached in recent days according to the report from elTOQUE.
Why hasn't the Cuban government implemented the promised floating exchange rate system?
Despite the fact that the Cuban government announced at the end of 2024 its intention to introduce a floating exchange rate system, it has not yet provided details on its implementation. Independent economists suggest that any attempt to regularize the exchange system should start from a reference rate close to the Representative Rate of the Informal Market (TRMI). This would imply acknowledging official prices much higher than the current ones in state financial institutions.
How does the volatility of the freely convertible currency (MLC) affect the Cuban economy?
The Freely Convertible Currency (MLC) has shown a downward trend and volatility in the informal market, currently trading at 210 CUP. This instability affects the ability of Cubans to access basic products that are sold in stores operating in MLC, exacerbating the economic crisis in the country.
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