The exchange rate of the U.S. dollar continues its upward trajectory in Cuba. As of Tuesday morning, the American currency surged to 450 CUP, as reported by the independent outlet elTOQUE. This figure marks a new trading record for the dollar in Cuba's informal market, reflecting a sharp increase of five units from the 445 CUP rate observed on Sunday. Over the past week, the dollar has jumped 12 CUP, reinforcing the trend of increases seen in recent weeks.
Meanwhile, the euro held steady at 505 pesos on October 7th, maintaining its value from the previous day. The Freely Convertible Currency (MLC), which has experienced significant volatility and decline in recent months, has been stable at 210 CUP since September 25th.
Current Exchange Rates in Cuba
As of 6:51 a.m. on October 7, 2025, in Cuba, the exchange rates according to elTOQUE are as follows:
- USD to CUP: 450 CUP.
- EUR to CUP: 505 CUP.
- MLC to CUP: 210 CUP.
Since late 2024, the Cuban government has announced intentions to implement a floating exchange rate system to close the gap between official and informal market values. However, more than six months later, details on its execution remain undisclosed.
Independent economists suggest that any attempt to regulate the currency system should start with a reference rate close to the Informal Market Representative Rate (IMRR). This would require the government to officially acknowledge prices four times higher than the current 120 CUP per euro offered by state banks and official exchange offices (CADECA).
Currency Conversion Examples
Here are some examples of currency conversion based on the exchange rates of October 7th:
- 1 USD = 450 CUP.
- 5 USD = 2,250 CUP.
- 10 USD = 4,500 CUP.
- 20 USD = 9,000 CUP.
- 50 USD = 22,500 CUP.
- 100 USD = 45,000 CUP.
Euro to CUP conversions:
- 1 EUR = 505 CUP.
- 5 EUR = 2,525 CUP.
- 10 EUR = 5,050 CUP.
- 20 EUR = 10,100 CUP.
- 50 EUR = 25,250 CUP.
- 100 EUR = 50,500 CUP.
- 200 EUR = 101,000 CUP.
- 500 EUR = 252,500 CUP.
Understanding Cuba's Currency Crisis
Why is the USD exchange rate rising in Cuba?
The USD is rising due to economic instability and the gap between the official and informal market rates in Cuba, leading to increased demand for the dollar.
What is the impact of the floating exchange rate system?
A floating exchange rate system could potentially stabilize currency values by aligning official rates with the market, but its success depends on proper implementation.
How is the euro performing in the Cuban market?
The euro has remained stable at 505 CUP, maintaining its value amid fluctuations in other currencies.