The value of the United States dollar (USD) remains stable in Cuba's informal market, trading at 385 Cuban pesos (CUP) on Monday, July 14, according to the daily monitoring by independent media outlet elTOQUE. This upward trend underscores the increasing demand for foreign currency on the island amidst shortages, inflation, and a lack of confidence in the Cuban peso as a reliable savings option.
Meanwhile, the euro (EUR) continues to be the most expensive currency in the informal market, reaching 430 CUP today. This rate highlights the perception of the European currency as a preferred safe haven for many Cubans, particularly those receiving remittances from European countries. Its limited circulation and high demand for real estate and commercial transactions keep it valued above the dollar.
On the other hand, the Freely Convertible Currency (MLC), primarily used in state-run stores, is priced at 230 CUP this Monday, marking a two-peso drop from the previous day. The MLC has been in a downward spiral since June 28, and many believe its value may continue to decline due to shortages in state-run stores operating with this currency. Although its value is less than that of physical foreign currencies, the MLC remains crucial for accessing basic goods and consumer products in regions where dollar stores are not yet prevalent.
Informal Exchange Rates in Cuba, Monday, July 14, 2025 - 07:00
Exchange Rate for the Dollar (USD) to Cuban pesos (CUP): 385 CUP
Exchange Rate for the Euro (EUR) to Cuban pesos (CUP): 430 CUP
Exchange Rate for the MLC to Cuban pesos (CUP): 230 CUP
Equivalence in Cuban pesos (CUP) per Available Banknote:
Dollar (USD) Banknotes:
- 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
Euro (EUR) Banknotes:
- 5 EUR → 2,150 CUP
- 10 EUR → 4,300 CUP
- 20 EUR → 8,600 CUP
- 50 EUR → 21,500 CUP
- 100 EUR → 43,000 CUP
- 200 EUR → 86,000 CUP
- 500 EUR → 215,000 CUP
Frequently Asked Questions on Currency Exchange in Cuba
Why is the euro more expensive than the dollar in Cuba?
The euro is more expensive than the dollar due to its limited circulation and high demand for properties and business transactions, making it a preferred safe haven for Cubans.
What factors contribute to the declining value of the MLC in Cuba?
The MLC's value is decreasing because of shortages in state-run stores that use this currency, leading to less demand and diminishing confidence in its stability.