The informal currency market in Cuba once again opens without changes in the selling values of the three reference currencies.
This Tuesday -as the eastern region of the country prepares to face a powerful hurricane- the dollar, the euro, and the Convertible Currency (MLC) hold the same prices for the fourth consecutive day.
The dollar has been pegged at 490 CUP since Friday.
The euro, for its part, remains stable at 540 CUP since October 23rd.
Exchange Rate Evolution
The MLC has remained at 200 CUP for several sessions.
Exchange rate today 10/28/2025 - 6:48 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 490 CUP.
Currency exchange rate of the euro EUR to CUP according to elTOQUE: 540 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 200 CUP.
According to the October report from the Cuban Currency and Finance Observatory (OMFi), the dollar could even exceed 500 CUP for the remainder of the month.
According to the same forecast, the euro could reach 551 CUP; while the MLC would be around 215 CUP.
Every increase in the informal rate translates into a rise in the cost of living: food, hygiene products, medicines, and even transportation or repair services increase in price almost at the same pace as foreign currencies.
For families that depend on state salaries or pensions, whose incomes remain fixed in Cuban pesos, this phenomenon represents an accelerated loss of purchasing power.
Meanwhile, households that receive remittances or handle foreign currency are able to maintain a certain level of consumption, widening the gap between those who have access to the dollar and those who do not.
This disparity fuels social tensions and drives many Cubans to seek alternative sources of income—whether through the informal market, jobs abroad, or even emigration—as the only way to withstand the economic decline.
In broader terms, the increase in foreign currency prices reflects the lack of trust in the Cuban peso and the absence of effective measures to stabilize the national currency.
The growing dollarization further erodes the state's ability to control prices and plan the economy, while inflation feeds back into a cycle that particularly punishes the most vulnerable.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of October 28th:
1 USD = 490 CUP.
5 USD = 2,450 CUP.
10 USD = 4,900 CUP.
20 USD = 9,800 CUP.
50 USD = 24,500 CUP.
100 USD = 49,000 CUP.
Currency exchange rate from Euros (EUR) to Cuban Pesos (CUP):
1 EUR: 540.
5 EUR = 2,700 CUP.
10 EUR = 5,400 CUP.
20 EUR = 10,800 CUP.
50 EUR = 27,000 CUP.
100 EUR = 54,000 CUP.
200 EUR = 108,000 CUP.
500 EUR = 270,000 CUP.
Meanwhile, it remains unclear what happened with the "floating exchange rate" announced since the end of 2024 by Prime Minister Manuel Marrero, who announced changes in order to attempt to close the gap between the official and informal value of currencies.
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