On Tuesday, September 16, 2025, Cuba's informal currency market experienced a slight uptick in the exchange rate of the United States dollar (USD), which reached 421 Cuban pesos (CUP), marking an increase of one peso from the previous day. Meanwhile, the euro (EUR) held steady at 475 CUP, and the Freely Convertible Currency (MLC) remained at 205 CUP.
Informal Exchange Rates in Cuba
Tuesday, September 16, 2025 - 07:23
Exchange rate of the dollar (USD) to Cuban pesos (CUP): 421 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 475 CUP
Exchange rate of the (MLC) to Cuban pesos (CUP): 205 CUP
Though the dollar's rise seems modest, it represents a new step in the currency's upward trajectory, which had been capped at 420 CUP since mid-September. This slight breach underscores the relentless demand pressure in a market where the Cuban peso continues to lose ground against key currencies.
Currency Dynamics and Economic Impact
The euro, which has recently become the priciest currency in the black market, remains stable after a sharp increase of 15 CUP in just one week. On the other hand, the MLC reached 205 CUP on Monday and has maintained this level after regaining value following months of depreciation.
The differing yet interconnected trends of these three currencies illustrate various dynamics: the dollar is gradually climbing, the euro is leading with more substantial gains, and the MLC is strengthening as a direct indicator of rising costs in state-run stores.
In all scenarios, the outcome is the same: a weakened Cuban peso and a population forced to allocate more resources to obtain basic goods. This latest hike in the dollar, however minimal, is seen by analysts as an indication that the informal market may continue its upward movement in the coming days, increasing pressure on Cuban families' economic stability.
Frequently Asked Questions about Cuba's Informal Currency Market
Why is the informal currency market significant in Cuba?
The informal currency market in Cuba is significant because it reflects the real demand and supply dynamics of foreign currencies, which often differ from official rates. It is a crucial indicator of economic pressures and the purchasing power of the Cuban peso.
What factors are influencing the rise of the USD in Cuba's black market?
The rise of the USD in Cuba's black market is influenced by several factors, including the scarcity of foreign currency, economic instability, and the increasing demand for dollars to purchase goods that are not available in local currency.