As of September 12, 2025, the U.S. dollar (USD) has surged to 420 Cuban pesos (CUP) in the black market, according to daily tracking by elTOQUE. This marks a four-peso increase from the previous day, reinforcing its status as one of the most sought-after currencies in street transactions. The high exchange rate highlights the effects of severe currency shortages and the declining purchasing power facing Cubans.
Meanwhile, the euro has also seen a slight uptick, currently trading at 470 CUP, continuing its upward trajectory. This rise places the euro above the dollar in terms of exchange value, making it an attractive option for those receiving remittances from Europe or engaging in international dealings.
The Freely Convertible Currency (MLC), which is essential for shopping in state-run stores, experienced a five-peso increase since Thursday, now trading at 200 CUP.
Current Informal Exchange Rates in Cuba
As of Friday, September 12, 2025, at 07:00:
- U.S. Dollar (USD) to Cuban Peso (CUP): 420 CUP
- Euro (EUR) to Cuban Peso (CUP): 470 CUP
- Freely Convertible Currency (MLC) to Cuban Peso (CUP): 200 CUP
Currency Conversion for Available Bills
Here's how the exchange rate translates for available dollar and euro bills:
U.S. Dollar (USD) at 420 CUP:- $1 USD = 420 CUP
- $5 USD = 2,100 CUP
- $10 USD = 4,200 CUP
- $20 USD = 8,400 CUP
- $50 USD = 21,000 CUP
- $100 USD = 42,000 CUP
- €5 EUR = 2,350 CUP
- €10 EUR = 4,700 CUP
- €20 EUR = 9,400 CUP
- €50 EUR = 23,500 CUP
- €100 EUR = 47,000 CUP
- €200 EUR = 94,000 CUP
- €500 EUR = 235,000 CUP
Understanding Cuba's Currency Exchange Challenges
Why is the U.S. dollar so highly valued in Cuba's black market?
The high value of the U.S. dollar in Cuba's black market is due to the scarcity of foreign currency and the declining purchasing power of the Cuban peso, leading people to seek more stable currencies.
What makes the euro a favored currency in Cuba?
The euro is favored because it often surpasses the dollar in exchange value, benefiting those receiving European remittances or engaging in international trade.
How has the MLC's value changed recently?
The MLC has seen a five-peso increase, now valued at 200 CUP, reflecting changes in its demand and usage in state-run stores.