Surprise in the informal market! Although many thought it was dead, the MLC is rising again.
In recent hours, the Free Convertible Currency (MLC), the economic creation of the Cuban regime that many believe is doomed to disappear, has increased in value again, according to the daily report from the independent outlet elTOQUE.
The MLC has risen to 250 CUP, which is ten pesos more than its value from the previous day.
The freely convertible currency has recently seen a streak of consecutive increases, raising questions about its future and how stable it truly is.
Exchange Rate Evolution
In the case of the dollar and the euro, there are no changes today: the US dollar is sold at 440 CUP and the European euro at 480 CUP.
Exchange rate today 11/27/2025 - 6:30 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 440 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 480 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 250 CUP.
Between uncertainty and the market: The MLC refuses to die
Recently, the freely convertible currency (MLC) has gone through a period of uncertainty characterized by a sustained decline in its value in the informal market.
For a large part of 2025, its exchange rate notably declined against the Cuban peso, driven by the loss of confidence among the population, the increased use of cash dollars, and the decrease of products in state stores operating in MLC.
These elements fueled persistent rumors about its imminent disappearance as a significant means of payment in the Cuban economy.
However, despite those warnings, the MLC has not disappeared.
On the contrary, it has demonstrated a remarkable ability to survive.
In recent days, its value in the informal market has risen again. This increase is surprising in a context where the dollar and the euro continue to dominate informal buying and selling operations.
This increase can be explained by several factors: the limited availability of cash dollars, the need to access specific products that are only sold in MLC stores, and a seasonal or circumstantial demand that has driven its use.
It is also influenced by the fact that, although in decline, the MLC payment infrastructure remains active: many bank cards still have a balance in that currency, and there are still businesses that accept it.
Thus, the MLC remains an ambiguous monetary instrument: declining, yet still functional; questioned, but not completely replaced.
Its recent evolution reflects the complexity of the current Cuban economy, where no currency seems stable, and where even those that many considered dead can resurge with unexpected strength.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of this November 27th:
1 USD = 440 CUP.
5 USD = 2,200 CUP.
10 USD = 4,400 CUP.
20 USD = 8,800 CUP.
50 USD = 22,000 CUP.
100 USD = 44,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 480 CUP.
5 EUR = 2,400 CUP.
10 EUR = 4,800 CUP.
20 EUR = 9,600 CUP.
50 EUR = 24,000 CUP.
100 EUR = 48,000 CUP.
200 EUR = 96,000 CUP.
500 EUR = 240,000 CUP.
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