The value of the U.S. dollar continues its upward trajectory in Cuba's informal marketplace, with the rate standing at 385 Cuban pesos (CUP) this Friday, July 11, according to figures reported by the independent outlet elTOQUE. As Cubans face economic uncertainty, the dollar serves as a financial haven against the fluctuations of the Cuban peso.
Meanwhile, the euro is trading at 425 CUP on the black market. This European currency has seen a steady increase over recent weeks, driven by heightened demand from those traveling or conducting transactions abroad, coupled with its limited availability on the island. The 40-peso gap between the euro and the dollar cements its status as the priciest currency in the market.
Additionally, the Freely Convertible Currency (MLC), used in state-run stores, is currently pegged at 235 CUP. This marks a decrease of 5 pesos from the previous day's rate.
Current Exchange Rates in Cuba as of July 11, 2025
At 7:00 AM on July 11, 2025, the exchange rates are as follows:
- U.S. Dollar (USD) to Cuban Peso (CUP): 385 CUP
- Euro (EUR) to Cuban Peso (CUP): 425 CUP
- Freely Convertible Currency (MLC) to Cuban Peso (CUP): 235 CUP
Conversion of Dollar and Euro Bills to Cuban Pesos
- Dollars (USD) – Rate: 385 CUP
- $1 = 385 CUP
- $5 = 1,925 CUP
- $10 = 3,850 CUP
- $20 = 7,700 CUP
- $50 = 19,250 CUP
- $100 = 38,500 CUP
- Euros (EUR) – Rate: 425 CUP
- €5 = 2,125 CUP
- €10 = 4,250 CUP
- €20 = 8,500 CUP
- €50 = 21,250 CUP
- €100 = 42,500 CUP
- €200 = 85,000 CUP
- €500 = 212,500 CUP
Understanding Cuba's Currency Market
Why is the U.S. dollar in high demand in Cuba?
The U.S. dollar is sought after in Cuba due to its stability compared to the volatile Cuban peso. It serves as a safe haven for citizens looking to protect their financial assets.
How does the euro compare to the dollar in Cuba?
Currently, the euro is valued higher than the dollar in Cuba's black market, reflecting its strong demand and limited availability on the island.
What is the role of the Freely Convertible Currency (MLC) in Cuba?
The MLC is used primarily in state-run stores in Cuba. Its fluctuating rate highlights the economic instability and scarcity of foreign currencies in the country.