Related videos:
This Sunday, the informal currency market in Cuba will see new changes.
At dawn on this November 23, the euro drops to 480 CUP, representing a decrease of five pesos compared to its value on the previous day.
The dollar, for its part, remains at 435 CUP for the third consecutive day, according to the daily report published by the independent outlet elTOQUE, which reports on the Representative Exchange Rate of the Informal Market (TRMi).
In the case of the Freely Convertible Currency (MLC), this Sunday it comes as a surprise and climbs to 230 CUP, a figure that represents a sudden increase of 10 pesos.
Exchange rate today 11/23/2025 - 6:48 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 435 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 480 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 230 CUP.
The general instability that has affected the value of currencies in recent weeks is occurring amid a growing campaign of harassment by the Cuban regime against elTOQUE, which it accuses of "manipulating" the Representative Rate of the Informal Market.
At the end of October, the dollar dropped from 485 to 410 CUP; and the euro fell from 540 to 450 CUP, in a rapid downward movement.
However, since November 9, both currencies have been gradually regaining their selling value. This continued until November 16, when the dollar broke the upward trend.
The adjustment takes place in a context of political and economic tension, marked by the announcement from the Cuban government on November 14th regarding the upcoming creation of a “official, orderly, and transparent exchange market”.
However, persistent inflation, a lack of foreign currency, and distrust in the regime's economic institutions continue to drive the demand for dollars and euros as a safe haven.
Additionally, the cash shortage and banking connectivity issues on the island limit formal transactions, further fueling the parallel currency market.
Since 2022, the trend has been a constant devaluation of the national currency, only briefly interrupted by short pauses or momentary declines that never manage to reverse the sustained deterioration of the CUP.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of November 23rd:
1 USD = 435 CUP.
5 USD = 2,175 CUP.
10 USD = 4,350 CUP.
20 USD = 8,700 CUP.
50 USD = 21,750 CUP.
100 USD = 43,500 CUP.
Equivalence of Euro bills (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.
Filed under: