The informal currency market in Cuba opened this Tuesday without changes, in a day of apparent stability following several days of exchange rate tension.
According to updated data from the independent observatory elTOQUE, the US dollar (USD) remains at 440 Cuban pesos (CUP), the euro (EUR) at 480 CUP, and the freely convertible currency (MLC) at 350 CUP, marking its historic high reached this Monday.
“Steady at base” for all currencies today: none are moving. Neither buyers nor sellers seem willing to change prices on the eve of the year-end celebrations, although the economic environment continues to be marked by uncertainty and scarcity.
Informal exchange rate in Cuba Tuesday, December 23, 2025 - 05:00
Exchange Rate Evolution
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 440 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 480 CUP
- Exchange rate of (MLC) to Cuban pesos CUP: 350 CUP
The calm of this Tuesday contrasts with the surge of the MLC recorded the previous day, when the digital currency used in state stores set records and solidified its position as a financial refuge against the devaluation of the Cuban peso.
Consulted experts attribute the temporary stability to a containment effect following the announcement of the official floating exchange rate by the Central Bank of Cuba (BCC), which has not yet managed to change the behavior of the informal market.
"Cubans continue to buy foreign currency outside of the banking system because they do not trust official rates or the availability of cash," explained an independent economist.
On the streets, the demand for dollars and euros remains high, but the lack of liquidity and state controls on acquiring foreign currency are driving many to operate with MLC, the electronic currency that reached its all-time high this Monday.
Tense calm before the year's end
Although the day progresses without any disturbances, analysts anticipate that the market will start to fluctuate again in the coming days, driven by the increase in remittances and year-end spending.
For now, the Cuban informal market remains "quiet on base," but with the bat held high, waiting for the next move from the government or a new jump in prices that will mobilize all the players.
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