The informal currency market in Cuba continues to break records with the euro climbing for the second consecutive day. According to the daily report from the independent outlet elTOQUE, as of this Thursday morning, the euro has reached a value of 510 Cuban Pesos (CUP) per unit. This marks an increase of three pesos compared to the average selling price of the euro yesterday. Since October 5, when it first hit 500 pesos, the European currency has seen a rise of 10 pesos in just four days.
Meanwhile, the U.S. Dollar remains steady at 450 CUP, maintaining this rate since Tuesday. The Freely Convertible Currency (MLC), which has experienced significant decline and volatility in recent months, has been stable for the past two weeks, holding at 210 CUP since September 25.
Current Exchange Rates in Cuba
As of 7:22 a.m. on October 9, 2025, in Cuba, the exchange rates according to elTOQUE are as follows:
- USD to CUP: 450 CUP
- EUR to CUP: 510 CUP
- MLC to CUP: 210 CUP
Since late 2024, the Cuban government has expressed intentions to introduce a floating exchange rate system to bridge the gap between the official and informal currency values. However, over six months later, no specific details have been released regarding its implementation. Independent economists caution that any attempt to standardize the exchange system should use a reference rate close to the Informal Market Representative Rate (IMRR). This would require the government to officially acknowledge prices that are four times the current official rate of 120 CUP per euro maintained by state banks and official exchange houses (CADECA).
Currency Conversion Equivalence
Here are the conversions from U.S. Dollars (USD) to Cuban Pesos (CUP) based on today's exchange rates:
- 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
For Euros (EUR) to Cuban Pesos (CUP), the conversions are:
- 1 EUR = 510 CUP
- 5 EUR = 2,550 CUP
- 10 EUR = 5,100 CUP
- 20 EUR = 10,200 CUP
- 50 EUR = 25,500 CUP
- 100 EUR = 51,000 CUP
- 200 EUR = 102,000 CUP
- 500 EUR = 255,000 CUP
Frequently Asked Questions about Cuba's Currency Exchange
Why is the euro increasing in value in Cuba?
The euro's value is climbing due to high demand in the informal market amid economic instability and limited access to foreign currencies.
What is the current exchange rate for the U.S. dollar in Cuba?
As of October 9, 2025, the U.S. dollar is exchanged at 450 Cuban Pesos (CUP) in the informal market.
How stable is the MLC in Cuba?
The MLC has remained stable at 210 CUP for the past two weeks, despite previous months of volatility.