This Saturday, there are no changes in the average selling rates of the three key currencies in Cuba's informal market, as reported by elTOQUE's daily update. As of 10:00 a.m. local Cuban time on July 12, the U.S. dollar remains at 385 CUP, the euro at 425 CUP, and the MLC at 235 CUP, consistent with the previous day's rates.
However, the median values highlight noteworthy shifts with the euro selling at 430 CUP, and the dollar at 387 CUP, indicating an increase of five pesos for the euro and two pesos for the dollar.
Current Exchange Rates and Controversy
Exchange rates today, 07/12/2025 - 10:37 a.m. in Cuba:
USD to CUP exchange rate according to elTOQUE: 385 CUP.
EUR to CUP exchange rate according to elTOQUE: 425 CUP.
MLC to CUP exchange rate according to elTOQUE: 235 CUP.
A recent piece by teleSUR, echoed by Cubadebate, accused elTOQUE of being part of a U.S. strategy to destabilize Cuba by manipulating informal currency market rates. This accusation is part of a long-standing narrative from the Cuban official discourse, which lacks solid evidence and overlooks the internal causes of the island's economic crisis. elTOQUE simply reports existing market dynamics in an environment devoid of reliable official data.
Blaming the outlet for the peso's devaluation ignores the structural imbalances fueling the rise of the informal market. In response, elTOQUE stated that its methodology is "transparent, scientific, and free from political manipulation," supported by academic research, including a publication in Applied Economics, and even acknowledged by Cuban authorities such as the Minister of Economy. They further asserted their commitment to an independent and open editorial policy, with public documentation of their sources and processes.
Currency Conversion Guide
Equivalence of U.S. Dollar (USD) bills to Cuban Peso (CUP), based on the exchange rates of July 12:
- 1 USD = 385 CUP
- 5 USD = 1,925 CUP
- 10 USD = 3,850 CUP
- 20 USD = 7,700 CUP
- 50 USD = 19,250 CUP
- 100 USD = 38,500 CUP
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
- 1 EUR = 425 CUP
- 5 EUR = 2,125 CUP
- 10 EUR = 4,250 CUP
- 20 EUR = 8,500 CUP
- 50 EUR = 21,250 CUP
- 100 EUR = 42,500 CUP
- 200 EUR = 85,000 CUP
- 500 EUR = 212,500 CUP
Understanding the Informal Currency Market in Cuba
Why does the informal currency market exist in Cuba?
The informal currency market in Cuba exists due to the lack of reliable official exchange rates and economic imbalances, forcing people to seek alternative methods to exchange currency.
How does elTOQUE determine exchange rates?
elTOQUE uses a transparent and scientific methodology, validated by academic research, to reflect existing market dynamics without political manipulation.