This Friday brings new developments in the informal Cuban currency market: the decline of the dollar has stopped in recent hours, but the euro, on the other hand, has experienced a significant drop.
At dawn on this November 7th, the U.S. dollar remains valued at 410 CUP, the same price it reached the previous day.
The European currency, on the other hand, suddenly drops by 20 pesos and is now at 460 CUP, which means that the difference between the two currencies has narrowed to just 50 pesos.
The Freely Convertible Currency (MLC), for its part, remains valued at 205 CUP, according to the report published this Friday by the independent media elTOQUE.
Exchange Rate Evolution
Exchange rate today 07/11/2025 - 7:09 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 410 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 460 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 "currency overshooting," which occurs when currencies spike following a shift in expectations and then partially decline, without returning to the previous level.
elTOQUE stated that since 2022 this pattern has repeated several times - in 2022, 2023, and 2024 - with speculative spikes 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 2025, however, the movement of the dollar and the euro has been more steady and less abrupt, although the recent decline in their values could suggest a new correction.
elTOQUE concluded by warning that, although official propaganda may lead to temporary decreases in the rate, the structural causes of the devaluation of the peso -inflation, fiscal deficit, and lack of trust- remain intact, and the market ultimately readjusts to its reality.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this November 7:
1 USD = 410 CUP.
5 USD = 2,050 CUP.
10 USD = 4,100 CUP.
20 USD = 8,200 CUP.
50 USD = 20,500 CUP.
100 USD = 41,000 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 460 CUP.
5 EUR = 2,300 CUP.
10 EUR = 4,600 CUP.
20 EUR = 9,200 CUP.
50 EUR = 23,000 CUP.
100 EUR = 46,000 CUP.
200 EUR = 92,000 CUP.
500 EUR = 230,000 CUP.
Meanwhile, it remains unclear what happened to "the floating exchange rate" announced since the end of 2024 by Prime Minister Manuel Marrero, who announced changes in order to attempt to narrow the gap between the official and informal values of currencies.
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