After a prolonged period of consistent price increases, the U.S. dollar has unexpectedly decreased in value in Cuba's informal market as of Wednesday morning.
Recently, the dollar's exchange rate fell to 485 CUP, a drop of five pesos from the 490 it reached just last Friday.
Meanwhile, the euro has remained stable at 540 CUP since October 23.
As for the MLC (Moneda Libremente Convertible), it has been holding at 200 CUP for several days.
Exchange Rates on October 29, 2025 - 8:06 a.m. in Cuba:
According to elTOQUE, the USD to CUP exchange rate is 485 CUP.
The EUR to CUP exchange rate is 540 CUP.
The MLC to CUP exchange rate is 200 CUP.
Based on the October report from Cuba's Observatorio de Monedas y Finanzas (OMFi), it was anticipated that the dollar could surpass 500 CUP by the end of the month.
However, with just two days left until month's end, the U.S. dollar has taken a step back, challenging the likelihood of this forecast coming to fruition.
The OMFi forecast also suggested that the euro might reach 551 CUP, while the MLC could rise to around 215 CUP.
Currency Conversion: USD and EUR to CUP
As per the exchange rates on October 29:
U.S. Dollar (USD) to Cuban Peso (CUP):
1 USD = 485 CUP.
5 USD = 2,425 CUP.
10 USD = 4,850 CUP.
20 USD = 9,700 CUP.
50 USD = 24,250 CUP.
100 USD = 48,500 CUP.
Euro (EUR) to Cuban Peso (CUP):
1 EUR = 540 CUP.
5 EUR = 2,700 CUP.
10 EUR = 5,400 CUP.
20 EUR = 10,800 CUP.
50 EUR = 27,000 CUP.
100 EUR = 54,000 CUP.
200 EUR = 108,000 CUP.
500 EUR = 270,000 CUP.
Meanwhile, the fate of the "floating exchange rate" promised by Prime Minister Manuel Marrero remains uncertain. Announced at the end of 2024, these changes were intended to narrow the gap between the official and informal currency values.
Understanding the Fluctuations in Cuba's Currency Exchange
Why did the U.S. dollar's exchange rate drop suddenly in Cuba?
The drop in the U.S. dollar's exchange rate in Cuba's informal market is not immediately clear but may be influenced by various economic factors and market dynamics within the country.
How stable is the euro compared to the U.S. dollar in Cuba?
The euro has remained stable at 540 CUP since October 23, unlike the U.S. dollar, which has seen recent fluctuations.