The dollar and the euro continue to plummet in the informal Cuban market.
At dawn this Wednesday, the value of the dollar has fallen in the Cuban informal market for the eighth consecutive day, according to the report published on November 5 by the independent outlet elTOQUE.
The U.S. dollar drops to 420 CUP per unit, marking another decline of 10 pesos in its value compared to the previous day, when it had also decreased by another ten units.
The euro is also down today: the European currency falls to 490 CUP, which is 10 pesos less than yesterday.
Exchange Rate Evolution
In the case of the MLC, the virtual currency used by the regime, it remains at 205 CUP.
Exchange rate today 05/11/2025 - 7:54 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 420 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 490 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 205 CUP.
In an article published this Wednesday, elTOQUE explained why the value of the dollar and the euro in the Cuban informal market periodically rises and falls, but almost never returns to its starting point.
The text attributed this behavior to the economic phenomenon known as "exchange rate overshooting," which occurs when currencies surge following a change in expectations and then partially decline, without returning to the previous level.
elTOQUE stated that since 2022, this pattern has repeated itself several times -in 2022, 2023, and 2024- with speculative peaks followed by corrections.
In 2024, the media also detected coordinated digital campaigns from accounts associated with the government aimed at temporarily distorting market perception and discrediting the Representative Rate of the Informal Market (TRMI).
In contrast, during 2025, the movement of the dollar and the euro has been more steady and less abrupt, although the recent drop in their values could signal a new correction.
elTOQUE concluded by warning that, although official propaganda may cause temporary drops in the rate, the structural causes of the peso's devaluation -inflation, fiscal deficit, and lack of trust- remain intact, and the market ultimately readjusts to its reality.
Equivalent of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of November 5th:
1 USD = 420 CUP.
5 USD = 2,100 CUP.
10 USD = 4,200 CUP.
20 USD = 8,400 CUP.
50 USD = 21,000 CUP.
100 USD = 42,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 490 CUP.
5 EUR = 2,450 CUP.
10 EUR = 4,900 CUP.
20 EUR = 9,800 CUP.
50 EUR = 24,500 CUP.
100 EUR = 49,000 CUP.
200 EUR = 98,000 CUP.
500 EUR = 245,000 CUP.
Meanwhile, it is still unknown what happened to "the floating rate" announced since late 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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