In Cuba's informal currency exchange market, the U.S. dollar (USD) made another upward move on Tuesday, September 23, now trading at 427 Cuban pesos (CUP), two pesos higher than the previous day. Meanwhile, the euro (EUR) remains stable at 485 CUP, maintaining the new high it hit on Monday. The Freely Convertible Currency (MLC) has decreased to 205 CUP after starting the week at 209.
Informal Exchange Rates in Cuba
Tuesday, September 23, 2025 - 07:00
Exchange rate of the U.S. dollar (USD) to Cuban pesos (CUP): 427 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 485 CUP
Exchange rate of Freely Convertible Currency (MLC) to Cuban pesos (CUP): 205 CUP
The dollar's climb reinforces the upward trend of the currency in recent days. Having held steady around 420 CUP for much of September, the dollar broke through this barrier last Sunday and has now increased by seven pesos in just three days. This new high of 427 CUP underscores the continued depreciation of the Cuban peso and the strong demand for dollars in the parallel market.
On the other hand, the euro remains at the peak it reached on Monday, standing firm at 485 CUP and widening its gap with the dollar by nearly 60 CUP. The European currency has become the most expensive and dynamic on the market, gaining 20 CUP so far this month.
The MLC reflects the market's volatility. After climbing to 210 CUP last week and stabilizing at 209 at the beginning of this week, it has now fallen to 205 CUP, erasing some of the gains made in prior sessions.
This latest dollar surge occurs amid a deteriorating purchasing power for Cubans. With minimum pensions at 4,000 CUP, a retiree can only purchase about 9.3 dollars in the informal market, highlighting the inadequacy of an income that is continuously losing value in real terms.
The rise in the dollar indicates that the relative calm of recent weeks has ended, pushing the informal market into a phase of increased pressure, with currencies continuing to hit record highs and a Cuban peso growing weaker by the day.
Frequently Asked Questions About Cuba's Currency Market
Why is the U.S. dollar increasing in value in Cuba's informal market?
The U.S. dollar is gaining value due to strong demand and the weakening of the Cuban peso, which continues to depreciate in the informal market.
How does the euro compare to the U.S. dollar in Cuba's market?
The euro is currently more expensive than the U.S. dollar in Cuba's informal market, maintaining a significant lead of nearly 60 CUP over the dollar.