Currency Exchange Rates in Cuba: Update on Euro, Dollar, and MLC

In a steep decline without any brakes, the so-called Freely Convertible Currency (MLC) in Cuba continues to plummet. As of 8:00 a.m. local time, this virtual currency, utilized by the Cuban regime, has dropped again, now trading at 210 Cuban pesos (CUP). This week, the MLC has experienced significant instability and seems poised for eventual phase-out. Meanwhile, both the U.S. dollar and the euro maintain their previous values: the U.S. dollar at 397 CUP and the euro at 445 CUP, both setting record highs for sales.

Rising Median Sales Prices for Dollar and Euro

The median exchange rates in the informal market indicate hikes for both the dollar and the euro, with the U.S. dollar reaching 400 CUP and the euro 450 CUP. It is crucial to note that the median values published by elTOQUE represent the midpoint price among various offers reported by users and market observers in Cuba's informal economy. Unlike averages, medians steer clear of distortions from extreme values, providing a more accurate reflection of common transaction trends.

Current Exchange Rates as of August 9, 2025, 8:00 a.m.

According to elTOQUE, the exchange rates are as follows:

• U.S. Dollar (USD) to CUP: 397 CUP
• Euro (EUR) to CUP: 445 CUP
• Freely Convertible Currency (MLC) to CUP: 210 CUP

Currency Conversion Examples

Here are the conversions of U.S. dollar bills to Cuban pesos based on today's rates:

• 1 USD = 397 CUP
• 5 USD = 1,985 CUP
• 10 USD = 3,970 CUP
• 20 USD = 7,940 CUP
• 50 USD = 19,850 CUP
• 100 USD = 39,700 CUP

For euros, the conversion to Cuban pesos is as follows:

• 1 EUR = 445 CUP
• 5 EUR = 2,225 CUP
• 10 EUR = 4,450 CUP
• 20 EUR = 8,900 CUP
• 50 EUR = 22,250 CUP
• 100 EUR = 44,500 CUP
• 200 EUR = 89,000 CUP
• 500 EUR = 222,500 CUP

Upcoming Changes in Currency Management

In mid-July, Cuban Prime Minister Manuel Marrero Cruz announced the introduction of a new "currency management, control, and allocation mechanism" in the second half of 2025. This is part of the so-called "Government Program to correct distortions and boost the economy." The proposed model involves transforming the official exchange market, consolidating financing frameworks, and purportedly redistributing foreign currency generated by state enterprises more efficiently. Despite these plans, the informal market remains dominant, with the Cuban peso losing value steadily and remittances from emigrants being the primary support for millions of households nationwide.