The informal currency market in Cuba wakes up this Sunday with mixed signals: the dollar and the euro hold their values from the previous day, while the freely convertible currency (MLC) declines slightly, after having reached its highest peak in weeks.
According to the daily report published by the independent outlet elTOQUE at 6:05 a.m., the rates for the dollar and euro remain stable:
Informal exchange rate in Cuba Sunday, December 14, 2025 - 06:05
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 440 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 485 CUP
- Exchange rate of (MLC) to Cuban pesos CUP: 295 CUP
The slight drop of five pesos in the value of the MLC marks a pause after its prolonged rise, which had taken it to a record of 300 CUP on Saturday, close to its historic maximum of 310 CUP reached in mid-May 2024.
Exchange Rate Evolution
This adjustment does not seem to indicate a change in trend, but rather a natural correction of the informal market, following several days of continuous increase.
In the past month, the MLC has been the most volatile and sought-after currency in Cuba. Its rapid appreciation was driven by the increasing need for electronic balance to purchase food, medicines, and basic products in currency stores, which are the only ones where the regime maintains a minimum supply.
However, the recent speculation regarding a possible official reference rate and state restrictions on the use and access to foreign currencies based on different types of economic actors may have encouraged a brief excessive revaluation, which is now being adjusted by the market itself.
The US dollar remains unchanged at 440 CUP, an apparent equilibrium level that reflects both the scarcity of physical bills and the caution of operators in light of the increasing state repression against the informal currency trade.
Since early December, the dollar has fluctuated within a narrow range of 435 to 445 CUP, indicating a fragile stability more tied to fear than to economic confidence.
For its part, the euro maintains its exchange rate at 485 CUP, unchanged since Saturday, confirming its current stability after losing some value at the end of November.
In the context of persistent inflation, blackouts, and widespread shortages, the informal market remains the most reliable gauge of the real value of the Cuban peso. Today, it shows a pause in the rise of foreign currencies, although there are no signs of recovery for the national currency.
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