On Saturday, July 19, the exchange rate for the United States dollar (USD) in the informal Cuban market is 387 Cuban pesos (CUP), according to the independent outlet, elTOQUE. This figure indicates a steady position for the American currency, which has seen slight fluctuations recently. It remains a highly sought-after currency on the island, particularly for those dependent on remittances or in need of essential goods.
In contrast, the euro (EUR) has soared to a record high of 435 CUP, an increase of three pesos from the previous day, making it the most expensive currency on the Cuban black market. This rise highlights a growing preference for the European currency, favored by travelers and citizens engaging in cross-border transactions or purchasing imported goods. The euro’s surge also underscores the ongoing depreciation of the Cuban peso against leading foreign currencies amid a severe economic crisis.
Meanwhile, the MLC (freely convertible currency) remains valued at 225 CUP, significantly lower than both the euro and the dollar. Although it is used in state-run stores, its informal market value has waned compared to other currencies.
Current Informal Exchange Rates in Cuba, Saturday, July 19, 2025 - 06:00
Exchange rate for USD to Cuban pesos (CUP): 387 CUP
Exchange rate for EUR to Cuban pesos (CUP): 435 CUP
Exchange rate for MLC to Cuban pesos (CUP): 225 CUP
Currency Denominations in Cuban Pesos
United States Dollars (USD):
1 USD = 387 CUP
5 USD = 1,935 CUP
10 USD = 3,870 CUP
20 USD = 7,740 CUP
50 USD = 19,350 CUP
100 USD = 38,700 CUP
Euros (EUR):
5 EUR = 2,175 CUP
10 EUR = 4,350 CUP
20 EUR = 8,700 CUP
50 EUR = 21,750 CUP
100 EUR = 43,500 CUP
200 EUR = 87,000 CUP
500 EUR = 217,500 CUP
Understanding Cuba's Currency Dynamics
Why is the euro more expensive than the dollar in Cuba?
The euro's higher cost compared to the dollar in Cuba is attributed to its increased demand, partly driven by travelers and cross-border transactions, as well as the overall depreciation of the Cuban peso.
What is the significance of the informal exchange rates in Cuba?
Informal exchange rates in Cuba highlight the real market value of foreign currencies, reflecting economic conditions and the supply-demand dynamics outside government-set rates.
How does the economic crisis impact the Cuban peso?
Cuba's economic crisis has led to the depreciation of the Cuban peso, as inflation and scarcity of goods increase the demand for more stable foreign currencies.