The informal currency market in Cuba opened on Saturday, October 11, 2025, consolidating the increases recorded during the week and setting a new record for the euro exchange rate.
The European currency is at 515 Cuban pesos (CUP), three more than on Friday, while the US dollar (USD) remains at 455 CUP, its highest historical value.
For its part, the Freely Convertible Currency (MLC) slightly falls to 208 CUP, after remaining stable at 210 for the past few days.
Informal exchange rate in Cuba Saturday, October 11, 2025 - 05:32
Exchange Rate Evolution
- Dollar exchange rate (USD) to Cuban pesos (CUP): 455 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 515 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 208 CUP
The most notable fact of the day is the new record for the euro, which increases its distance from the dollar to 60 CUP.
Since early September, the European currency has risen by more than 30 CUP, driven by growing distrust in the Cuban peso and a lack of liquidity in official channels. Its steady rise reflects the accumulated pressure in a market where the demand for foreign currency does not meet sufficient supply.
The dollar, for its part, consolidates the "surge" it experienced throughout the week and maintains its exchange rate at 455 CUP. In just two months, the greenback has risen by more than 80 pesos, a 22% increase, which highlights the accelerated depreciation of the Cuban peso and the ongoing flight towards foreign currencies as a financial haven.
The MLC —used in the network of state stores— shows a slight correction, but remains at high levels with little stability. Its occasional drop does not change the overall trend: the three currencies remain well above the values of August, and there are no signs indicating a halt in the depreciation of the peso.
Analysts agree that the informal Cuban market is going through a dangerous adjustment phase: the dollar and the euro are strengthening while earnings in national currency are eroding day by day.
Without structural change or transparency in currency policy, the Cuban economy remains trapped in a devaluation spiral that hits hardest those who rely on state salaries and pensions.
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