Freewheeling dollar and euro—that's the current scene in Cuba. As Thursday dawned, both currencies saw significant price hikes in the informal market, as reported by elTOQUE's daily update. In a sharp leap, the dollar jumped by five pesos, now standing at 410 CUP. Meanwhile, the euro rose to 455 CUP, marking an increase of two units.
In contrast, the Freely Convertible Currency (MLC) saw a decline, dropping to 193 CUP. This trend further highlights the virtual currency's downward spiral, a currency used by the Cuban regime. The ongoing dynamics of these key currencies in Cuba's informal market underscore a stark reality: the national currency continues to weaken, and everyday Cubans are losing purchasing power.
Despite ongoing promises of currency reform, the Cuban government remains silent, offering no updates or concrete actions. As of August 28, 2025, at 6:38 a.m. in Cuba, these are the exchange rates according to elTOQUE:
Current Exchange Rates
Dollar (USD) to Cuban Peso (CUP): 410 CUP
Euro (EUR) to Cuban Peso (CUP): 455 CUP
Freely Convertible Currency (MLC) to Cuban Peso (CUP): 193 CUP
Dollar and Euro to Cuban Peso Conversion
USD to CUP conversions based on today's rates:
1 USD = 410 CUP
5 USD = 2,050 CUP
10 USD = 4,100 CUP
20 USD = 8,200 CUP
50 USD = 20,500 CUP
100 USD = 41,000 CUP
EUR to CUP conversions:
1 EUR = 455 CUP
5 EUR = 2,275 CUP
10 EUR = 4,550 CUP
20 EUR = 9,100 CUP
50 EUR = 22,750 CUP
100 EUR = 45,500 CUP
200 EUR = 91,000 CUP
500 EUR = 227,500 CUP
Back in July, Manuel Marrero announced anticipated changes to the official currency market in Cuba, with plans to implement these changes in the latter half of the year. Yet, as of now, there has been no tangible progress.
Understanding Cuba's Currency Exchange Situation
Why are the dollar and euro rising in Cuba?
The dollar and euro are rising due to their increased demand in Cuba's informal market, highlighting the fragility of the national currency.
What impact does the decline of the MLC have?
The decline of the MLC reflects a lack of confidence in this virtual currency, emphasizing the economic challenges faced by the Cuban regime.
Has the Cuban government announced any plans to address the currency issue?
Although there have been promises of currency reform, the Cuban government has yet to take concrete action or provide updates on these plans.