The informal Cuban currency market started off calmly this Wednesday.
The dollar, the euro, and the Freely Convertible Currency (MLC) have not experienced price changes in recent hours, according to the daily report from the independent medium elTOQUE, which has been documenting the fluctuations in the value of currencies in Cuba since 2021.
The three reference currencies on the island retain the values they reached the previous day.
The dollar is selling for 460 CUP and the euro for 520.
Exchange Rate Evolution
In the case of the MLC, it remains at 205 pesos.
Exchange rate today 10/15/2025 - 6:54 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 460 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 520 CUP.
Tasa de cambio from MLC to CUP according to elTOQUE: 205 CUP.
The purchasing power of Cubans is sinking further and further
Despite the fact that no price changes are noticeable in the informal market in Cuba this October 15, the sustained rise of the dollar and the euro in recent months is a clear symptom of the economic deterioration facing the island.
For most citizens who earn wages in the national currency, this situation represents a drastic reduction in their purchasing power.
The rise of the dollar and the euro has led to a widespread increase in the prices of basic goods, many of which are imported by entrepreneurs who operate with foreign currencies.
This phenomenon has further widened the gap between those who receive remittances from abroad and those who rely solely on state income.
Furthermore, the absence of a clear monetary policy from the Cuban regime, combined with productive collapse and the scarcity of foreign currency in the hands of the state, has fueled an unprecedented devaluation spiral.
Independent economists warn that if this trend continues, the country could face a crisis of greater magnitude. The de facto dollarization occurring in many sectors of the economy, without institutional support or guarantees, increases the vulnerability of the poorest and creates an environment of ongoing uncertainty.
While the authorities remain silent or attribute the situation to "external interests," citizens are confronting increasingly high prices, insufficient wages, and a national currency that is worth less every day.
In this context, mass emigration, the rise of informal work, and dependence on remittances have become survival strategies for millions of Cubans.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of October 15:
1 USD = 460 CUP.
1 USD = 460 CUP.
5 USD = 2,300 CUP.
10 USD = 4,600 CUP.
20 USD = 9,200 CUP.
50 USD = 23,000 CUP.
100 USD = 46,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 520 CUP.
5 EUR = 2,600 CUP.
10 EUR = 5,200 CUP.
20 EUR = 10,400 CUP.
50 EUR = 26,000 CUP.
100 EUR = 52,000 CUP.
200 EUR = 104,000 CUP.
500 EUR = 260,000 CUP.
Since late 2024, the Cuban government announced its intention to introduce a floating exchange system in 2025 to try to close the gap between the official and informal currency values. However, with just two and a half months left in the year, the regime has yet to comment on the issue.
Frequently asked questions about the economic situation and the foreign exchange market in Cuba
What is the current exchange rate of the dollar in the informal Cuban market?
In the Cuban informal market, the US dollar is sold for 460 Cuban pesos (CUP). This exchange rate reflects the ongoing devaluation of the Cuban peso against major foreign currencies.
How does the devaluation of the Cuban peso affect citizens?
The devaluation of the Cuban peso has caused a widespread increase in the prices of basic goods, drastically reducing the purchasing power of citizens who receive their salaries in national currency. This has widened the economic gap between those who have access to foreign currency and those who depend on state income.
What measures has the Cuban government taken to address the currency crisis?
Despite announcements from the Cuban government regarding the introduction of a floating exchange system, no concrete measures have been implemented to close the gap between the official and informal value of currencies. The lack of action has created an environment of economic uncertainty in the country.
Why does the euro have such a high value in the Cuban market?
The euro is priced at 520 CUP, and its high value is due to its international strength and the difficulty of obtaining it in cash in Cuba. The high demand for this currency, coupled with its scarcity, has contributed to its rise in price in the informal market.
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