After several days of consecutive declines, the informal currency market in Cuba registers a rebound this Sunday in the main foreign currencies, with the dollar and the euro regaining ground against the Cuban peso, in a movement that could signal the beginning of a new upward trend.
According to the representative rate published by elTOQUE, the US dollar (USD) increased by 10 pesos in the last 24 hours and is currently at 420 Cuban pesos (CUP).
The euro (EUR) also experiences a slight increase, rising from 450 to 455 CUP, while the freely convertible currency (MLC) remains stable at 205 CUP.
Informal exchange rate in Cuba Sunday, November 9, 2025 - 06:30
Exchange Rate Evolution
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 420 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 455 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 205 CUP
The change disrupts the downward trend that had established itself in the informal market since the end of October, when the dollar fell from 485 to 410 CUP and the euro behaved similarly, dropping from 540 to 450 CUP, in a rapid downward movement that resulted in a decrease of almost 100 Cuban pesos in its valuation over a period of 10 days.
This variation, though moderate, suggests that the market is once again reacting to demand pressure and the general uncertainty that dominates the national economy.
For analysts, the rise of the dollar and the euro is a predictable response following several days of apparent correction.
The informal Cuban market tends to react quickly to any changes in supply or perceptions of stability regarding the peso. Since 2022, the trend has been a constant devaluation of the national currency, only briefly interrupted by short pauses or temporary declines that never manage to reverse the sustained deterioration of the CUP.
Persistent inflation, the lack of official currency, and distrust in the regime's economic institutions continue to drive the demand for dollars and euros as a safe haven.
In addition, the cash shortage and banking connectivity issues on the island restrict formal transactions, further fueling the parallel market.
While the government remains silent about the promised "floating rate" announced by Prime Minister Manuel Marrero Cruz at the end of 2024, the gap between the official exchange rate and the informal one continues to widen.
On the street, Cubans watch the screens of the digital market with resignation, aware that every rise in the dollar or euro translates to another blow to the cost of living.
Although it is too early to tell if this rise will mark a sustained trend, the resumption of the increase in foreign currencies confirms that the informal market continues to be the most reliable barometer of the Cuban economic crisis and the deep distrust in the national peso.
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