The value of the euro has once again skyrocketed in Cuba's informal market, reaching 405 CUP on Thursday. This figure marks a new peak in the trading of the European currency in the island's underground economy. Just a few days ago, the previous high was set at 404 CUP, surpassing the 402.5 pesos it reached in May 2024.
Meanwhile, the US dollar remains unchanged, holding steady at 375 CUP. Similarly, the Freely Convertible Currency (MLC) continues to be sold at 260 CUP. A recent article by elTOQUE, based on an analysis from the Cuban Observatory of Currencies and Finance (OMFi), predicted that the exchange market might become "more active and unpredictable" in the remaining days of June compared to previous months.
Current Exchange Rates as of 12/06/2025 - 7:21 a.m. in Cuba
The exchange rates according to elTOQUE are as follows:
- USD to CUP: 375
- EUR to CUP: 405
- MLC to CUP: 260
Currency Market: From May's Stability to June's Fluctuations
In their analysis, the independent media outlet observed that May brought a period of relative calm to Cuba's black market for foreign currency. The euro emerged as the most lucrative option, increasing its purchasing power by 14.8% over three months, in stark contrast to the US dollar's 8.2% rise.
Conversely, the MLC saw a 7% decline in value during the same timeframe. The dollar showed remarkable stability, increasing by just 3 CUP (0.82%) in May. This steadiness also supported the MLC, which closed May at 270 CUP per unit, the same value it had in April, halting its downward trend that began in March.
Forecast for June: Anticipated Pressure on Currency Values
The OMFi forecasts a shift in dynamics for June. They caution that while May experienced an oversupply, June might see an excess demand, potentially driving up currency prices. According to OMFi's predictive models, the anticipated exchange rates for Cuba by June 30, 2025, are:
- USD: Central value at 385 CUP, with a maximum of 408 and a minimum of 365.
- EUR: Central value at 406 CUP, with a maximum of 421 and a minimum of 385.
- MLC: Central value at 274 CUP, reaching a high of 284 and a low of 260.
All indicators suggest an upward trend from current values.
Currency Conversion Rates for Available Bills
Here are the conversions for each denomination of US dollars and euros into pesos cubanos (CUP), based on the exchange rates of June 12:
US Dollar (USD) to Cuban Peso (CUP)
- 1 USD = 375 CUP
- 5 USD = 1,875 CUP
- 10 USD = 3,750 CUP
- 20 USD = 7,500 CUP
- 50 USD = 18,750 CUP
- 100 USD = 37,500 CUP
Euros (EUR)
- 1 EUR = 405 CUP
- 5 EUR = 2,025 CUP
- 10 EUR = 4,050 CUP
- 20 EUR = 8,100 CUP
- 50 EUR = 20,250 CUP
- 100 EUR = 40,500 CUP
- 200 EUR = 81,000 CUP
- 500 EUR = 202,500 CUP
FAQs on Cuba's Informal Currency Market
Why is the euro increasing in value in Cuba's black market?
The euro is rising in value due to increased demand and its higher purchasing power compared to other currencies in the Cuban informal market.
What are the predictions for currency rates in Cuba for June 2025?
OMFi forecasts suggest that by June 30, 2025, the USD could range from 365 to 408 CUP, the EUR from 385 to 421 CUP, and the MLC from 260 to 284 CUP.