The euro is experiencing a significant surge in Cuba's informal market, reaching an unprecedented value of 415 CUP on Monday, June 16, 2025, as reported by the independent media outlet elTOQUE. This jump of five pesos from the previous day highlights the euro's upward trend, surpassing the U.S. dollar by 40 pesos. This reflects the escalating demand for strong currencies amidst the island's ongoing economic crisis.
Meanwhile, the U.S. dollar is trading at 375 CUP in the black market today, remaining one of the most sought-after currencies by Cubans for transactions, savings, or remittances. Despite inflationary pressures and cash shortages, the greenback continues to be a vital reference in the country's informal economy.
The MLC (Freely Convertible Currency), used in Cuban state-run stores, holds steady at 260 pesos. Although its value is lower than that of the euro and the dollar, it remains significant due to its use in the state commercial network, where essential goods and necessities not available in Cuban pesos are sold.
Informal Exchange Rates in Cuba, Monday, June 16, 2025 - 07:00
Exchange rate for the U.S. dollar (USD) to Cuban pesos (CUP): 375 CUP
Exchange rate for the euro (EUR) to Cuban pesos (CUP): 415 CUP
Exchange rate for the MLC to Cuban pesos (CUP): 260 CUP
Conversion Rates in Cuban Pesos
U.S. Dollar (USD) – 1 USD = 375 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
Euro (EUR) – 1 EUR = 415 CUP
- €5 EUR = 2,075 CUP
- €10 EUR = 4,150 CUP
- €20 EUR = 8,300 CUP
- €50 EUR = 20,750 CUP
- €100 EUR = 41,500 CUP
- €200 EUR = 83,000 CUP
- €500 EUR = 207,500 CUP
Understanding Cuba's Currency Crisis
Why is the euro so high in Cuba's black market?
The euro's high value in Cuba's black market is driven by increased demand for strong currencies amid the island's economic crisis and limited access to foreign currencies through official channels.
How does the U.S. dollar compare to the euro in Cuba?
In Cuba's black market, the euro is currently valued higher than the U.S. dollar, with the euro trading at 415 CUP compared to the dollar's 375 CUP.