The informal foreign exchange market in Cuba opens this Saturday with signs of stability for the dollar, a slight decline in the euro, and a new increase in the Convertible Currency (MLC), which continues to rise, reaching its highest level of the month.
According to the data published by elTOQUE in its Informal Market Representative Rate (TRMi), the US dollar (USD) remains at 445 Cuban pesos (CUP), the same as in the previous day.
Informal exchange rate in Cuba Saturday, November 29, 2025 - 06:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 445 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 490 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 270 CUP
The euro (EUR) has slightly decreased to 490 CUP, five pesos lower than the previous day's rate, while the digital currency (MLC) has risen another five pesos, reaching 270 CUP this Saturday, consolidating its upward trend.
Exchange Rate Evolution
A month-end characterized by volatility
The behavior observed over the past few weeks confirms that the informal Cuban market has entered a phase of adjustment, following the sharp decline at the beginning of November and the uneven recovery in the middle of the month.
The evolution charts created by CiberCuba based on the data published by elTOQUE show that, while the dollar and euro stabilize in the range of 440–490 CUP, the MLC has experienced a steady rise, increasing from 200 to 270 CUP in just 30 days.
This contrast highlights a shift in market behavior: the MLC —which remained stable for months— has gained prominence as the reference currency since the regime intensified its campaign against the independent media and TRMi, due to the potential paralysis caused in the informal currency market by the persecution and repression of its participants.
Political context and economic expectations
The upsurge in the parallel market also coincides with the loss of credibility in the official announcement from the Central Bank of Cuba (BCC) regarding the establishment of a “well-organized and transparent exchange market”.
Three weeks after that announcement, there are no signs of actual implementation or measures that support the supposed new exchange rate system.
Economists consulted by this outlet indicate that the lack of foreign currency, persistent inflation, and structural distrust in the Cuban peso continue to uphold the factors driving the value of the dollar, the euro, and the MLC in the street.
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