For the third day in a row, there has been no fluctuation in the informal exchange rates for foreign currencies in Cuba, as reported by the independent outlet elTOQUE. The U.S. dollar remains steady at 387 CUP, while the Euro also stands unchanged at 435 CUP per unit. The virtual currency used by the regime in select stores, known as Moneda Libremente Convertible (MLC), continues to hold at 225 CUP.
Despite the lack of visible changes, the median exchange rates over the past 24 hours suggest a selling price of 440 CUP for the Euro and a slight increase to 390 CUP for the U.S. dollar.
Current Exchange Rates in Cuba as of July 22, 2025
According to elTOQUE, here are the exchange rates:
U.S. Dollar (USD) to Cuban Peso (CUP): 387 CUP
Euro (EUR) to Cuban Peso (CUP): 435 CUP
MLC to Cuban Peso (CUP): 225 CUP
Currency Conversion Examples
U.S. Dollar (USD) to Cuban Peso (CUP):
- 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) to Cuban Peso (CUP):
- 1 EUR = 435 CUP
- 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
Upcoming Economic Changes in Cuba
Last week, Cuban Prime Minister Manuel Marrero Cruz announced to the National Assembly of People's Power that a new "management, control, and currency allocation mechanism" would be implemented in the second half of 2025. This initiative is part of the government's plan to address economic distortions and boost the economy.
Marrero mentioned that the new model would include reforming the official exchange market, consolidating financing schemes, and supposedly offering a more efficient redistribution of foreign currency generated by state enterprises. Meanwhile, the informal market continues to dominate the scene, with the Cuban peso losing its value, while remittances from emigrants remain the lifeline for millions of households.
Cubans are compelled to purchase dollars on the street to buy food, medicine, or handle migration procedures in an economy where everything is more costly if paid in MLC. Experts have long warned that any attempt to reorganize the exchange system without an inclusive policy will only deepen inequality. Without real access to foreign currency, the population is trapped in a parallel economy that punishes the most vulnerable.
Frequently Asked Questions About Currency Exchange in Cuba
What are the current informal exchange rates for the U.S. dollar and Euro in Cuba?
As of today, the informal exchange rate for the U.S. dollar is 387 CUP, while the Euro is valued at 435 CUP.
What is the Moneda Libremente Convertible (MLC) used for in Cuba?
The MLC is a virtual currency used by the Cuban government in certain stores for purchasing goods, with the current exchange rate at 225 CUP.
What changes are expected in Cuba's currency management in the near future?
The Cuban government plans to introduce a new currency management system in the second half of 2025, aiming to reform the official exchange market and efficiently redistribute foreign currency.
Why do Cubans rely on the informal market for currency exchange?
Due to the devaluation of the Cuban peso and limited access to foreign currency through official channels, Cubans turn to the informal market to obtain dollars for essential goods and services.