As of Thursday, September 18, 2025, the U.S. dollar is trading at 420 Cuban pesos (CUP) in Cuba's informal currency exchange market, according to the daily rate published by elTOQUE. This figure highlights the increasing demand for foreign currencies amid the ongoing national economic crisis.
The euro remains the most expensive currency, increasing by three pesos to reach 480 CUP in the informal market. This upward trend in the European currency exacerbates the cost of imported goods, making it even more challenging for many Cuban families to access basic necessities.
Meanwhile, the value of the MLC (freely convertible currency), which is used in state-run stores, rose by six pesos compared to the previous day. It is currently priced at 206 CUP, which is lower than both the dollar and the euro in the parallel market.
Informal Exchange Rates in Cuba
Thursday, September 18, 2025 - 09:37 AM
Exchange Rate of the U.S. Dollar (USD) to Cuban Pesos (CUP): 420 CUP
Exchange Rate of the Euro (EUR) to Cuban Pesos (CUP): 480 CUP
Exchange Rate of the MLC to Cuban Pesos (CUP): 206 CUP
Cuban Peso Equivalents for Dollar (USD) and Euro (EUR) Banknotes
Dollar (USD) Banknotes to CUP (Rate: 1 USD = 420 CUP)
$1 = 420 CUP
$5 = 2,100 CUP
$10 = 4,200 CUP
$20 = 8,400 CUP
$50 = 21,000 CUP
$100 = 42,000 CUP
Euro (EUR) Banknotes to CUP (Rate: 1 EUR = 480 CUP)
€5 = 2,400 CUP
€10 = 4,800 CUP
€20 = 9,600 CUP
€50 = 24,000 CUP
€100 = 48,000 CUP
€200 = 96,000 CUP
€500 = 240,000 CUP
Understanding Cuba's Informal Currency Market
Why is the euro more expensive than the dollar in Cuba's informal market?
The euro's higher value is due to its strong demand and the economic situation in Cuba, where imported goods priced in euros become costlier, affecting affordability for the population.
How does the informal exchange rate affect everyday life in Cuba?
The informal exchange rate impacts the cost of living by making imported goods more expensive, further straining the financial situation of many Cuban families who rely on foreign currency to purchase basic necessities.
What is the MLC and how is it used in Cuba?
The MLC, or freely convertible currency, is used in state-run stores to purchase goods that are often unavailable in regular peso stores. It serves as an alternative currency for Cubans who have access to this currency through remittances or other means.