As of this Sunday morning, the value of the U.S. dollar in Cuba's informal market stands at 387 Cuban pesos (CUP), according to the reference rate provided by the independent outlet elTOQUE. This rate poses a significant challenge for individuals who rely on the dollar to purchase essential goods only available in Cuba's dollar-denominated stores.
Meanwhile, the euro continues its upward trend, now reaching 435 CUP—a record it set the previous day. This makes it the most expensive currency on the street. The persistent high rates of the euro and dollar in the informal market exacerbate inflationary pressures amid widespread shortages, limited supply, and the ongoing depreciation of the Cuban peso.
The MLC (Freely Convertible Currency), necessary for shopping in certain state-run foreign currency stores, has risen to 225 CUP. This figure underscores the widespread lack of confidence in the Cuban peso and the growing preference for more stable currencies.
Current Informal Exchange Rates in Cuba, Sunday, July 20, 2025 - 07:00
U.S. Dollar (USD) to Cuban Peso (CUP) Exchange Rate: 387 CUP
Euro (EUR) to Cuban Peso (CUP) Exchange Rate: 435 CUP
MLC to Cuban Peso (CUP) Exchange Rate: 225 CUP
Currency Note Equivalents:
U.S. Dollar (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
Euro (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 Currency Exchange in Cuba's Informal Market
Why are informal exchange rates important in Cuba?
Informal exchange rates are crucial in Cuba because they often reflect the true market value of foreign currencies, unlike official rates. These rates impact everyday transactions and the affordability of imported goods.
How does the high price of the euro affect the Cuban economy?
The elevated price of the euro increases costs for imports and exacerbates inflation. It also strains the purchasing power of Cubans who need euros for travel or online purchases.