After five consecutive days of stability in Cuba's informal market, the euro witnessed a notable increase in its average selling price as of Wednesday morning. According to the daily report from elTOQUE, which monitors fluctuations of the three key currencies, the European currency climbed to 353 CUP by 8:00 a.m. on August 27. This marks a rise of three pesos from its previous value since August 12, only briefly interrupted on the 19th by a quick surge to 451.
Meanwhile, the U.S. dollar remains steady at 405 CUP. The Freely Convertible Currency (MLC), however, continues to hold at 195 CUP, a level it reached last Friday after a sudden drop of five pesos. Amidst the heightened activity of these three reference currencies in the Cuban informal market, especially the dollar and euro in recent months, it is evident that the national currency is weakening, reducing the purchasing power of ordinary Cubans.
Despite ongoing promises of exchange reform, the Cuban government remains silent, offering no updates on the proposed changes. As of 8:56 a.m. on August 27, 2025, the exchange rates according to elTOQUE are as follows: the dollar is valued at 405 CUP, the euro at 453 CUP, and the MLC at 195 CUP.
The current equivalence of U.S. dollar notes to Cuban pesos is: 1 USD equals 405 CUP, 5 USD equals 2,025 CUP, 10 USD equals 4,050 CUP, 20 USD equals 8,100 CUP, 50 USD equals 20,250 CUP, and 100 USD equals 40,500 CUP.
Regarding the euro, 1 EUR is equivalent to 453 CUP, 5 EUR to 2,265 CUP, 10 EUR to 4,530 CUP, 20 EUR to 9,060 CUP, 50 EUR to 22,650 CUP, 100 EUR to 45,300 CUP, 200 EUR to 90,600 CUP, and 500 EUR to 226,500 CUP.
In July, Manuel Marrero announced upcoming changes in Cuba's official exchange market, which were expected to occur in the second half of the year. Yet, so far, no tangible actions have been taken.
Understanding Currency Fluctuations in Cuba's Informal Market
Why did the euro's value increase in Cuba's informal market?
The euro's value increased due to fluctuations in the informal market, reflecting changes in demand and supply dynamics, as well as the weakening of the national currency.
What is the impact of currency fluctuations on everyday Cubans?
Currency fluctuations reduce the purchasing power of ordinary Cubans, making imported goods and foreign currencies more expensive, thereby affecting their daily expenses and savings.
Has the Cuban government addressed the currency issues?
Although the government has promised exchange reforms, there have been no concrete updates or actions taken to address the currency issues in the informal market.