The informal currency market in Cuba starts this December 18 calm for the second consecutive day, with no changes in the selling rates of the three reference currencies.
At the beginning of this Thursday, the dollar is priced at 440 CUP and the euro at 480 CUP per unit, according to the daily report from the independent media elTOQUE, which documents the fluctuations in currency prices in Cuba.
The Freely Convertible Currency (MLC) also remains unchanged, which retains the 300 CUP it reached on Tuesday.
Exchange rate today 12/18/2025 - 6:48 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 440 CUP.
Exchange Rate Evolution
Exchange rate of the euro EUR to CUP according to elTOQUE: 480 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 300 CUP.
The day without changes in the informal currency market in Cuba takes place on the same day that a floating official rate comes into effect.
Floating rate in motion: Three segments, one goal
Starting this Thursday, Cuba is launching a new exchange rate system. The Central Bank has activated a floating rate for citizens and private individuals, as part of a gradual reform aimed at reducing informality and reorganizing the flow of foreign currency.
The new system is structured into three segments:
Segment I (1x24 CUP): essential state operations.
Segment II (1x120 CUP): companies with external revenues.
Segment III (floating rate): for individuals and small and medium-sized enterprises, published daily by the BCC.
The stated goal: to move towards future unification without causing a monetary collapse.
First rates: The Central Bank approaches elTOQUE
The Central Bank and CADECA announced the first rates of the floating segment this Thursday
Dollar: 410 CUP (official) | 440 CUP (informal).
Euro: 481.42 CUP (official) | 480 CUP (informal).
At CADECA, the public sales set the dollar at 418 CUP and the euro at 491.05 CUP, even surpassing the rates in the informal market.
This approach shows that the new scheme does not compete against the parallel market, but rather recognizes it as a real reference.
What changes for citizens and businesses?
People will be able to sell foreign currency at the new official exchange rate and purchase up to 100 USD through digital appointments. The supply continues to be limited: only what is obtained through legal means (remittances, exports, etc.) will be sold.
Self-employed workers and micro, small, and medium-sized enterprises (mipymes) will be able to acquire foreign currency from fiscal accounts, up to 50% of their quarterly gross income, without the need to go to the informal market.
Reform or resignation?
The introduction of the floating rate essentially validates the informal market, which for years has determined the true value of the Cuban peso.
The redesign may organize certain flows, but it does not replace the lack of trust in the state financial system. Without transparency, liquidity, and structural reforms, this measure risks being just another band-aid in a model that has lost credibility.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates for this December 18th:
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 banknotes (EUR) 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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