For the second day in a row, the value of the US dollar has fallen in the Cuban informal market, as reported by the independent media outlet elTOQUE on October 30.
On Thursday morning, the dollar dropped to 480 CUP per unit, a decrease of five pesos from the previous day's rate, which itself had seen a five-peso drop.
Unlike the sudden decline in the dollar's value, the euro remains stable at 540 CUP, a rate that has held since October 23. Meanwhile, the MLC—Cuba's virtual currency used by the regime—has been steady at 200 CUP for several days.
Despite weeks of consistent price increases, the dollar seems poised to end the month without reaching the 500-peso mark projected by the OMFi in its October report. According to the same forecast, the euro could climb to 551 CUP, while the MLC might settle around 215 CUP.
Exchange Rates as of October 30, 2025, 6:41 a.m. in Cuba:
US Dollar (USD) to CUP according to elTOQUE: 480 CUP.
Euro (EUR) to CUP according to elTOQUE: 540 CUP.
MLC to CUP according to elTOQUE: 200 CUP.
First Dollar Drop in Over Five Months
Since May, the dollar has been on a steady upward trajectory in the informal market. The last time the dollar's value fell was back in May.
Additionally, the dollar surged by 51 euros in October alone, starting at 439 CUP on September 30 and reaching 490 CUP on October 24.
US Dollar (USD) to Cuban Peso (CUP) Equivalencies as of October 29:
1 USD = 480 CUP.
5 USD = 2,400 CUP.
10 USD = 4,800 CUP.
20 USD = 9,600 CUP.
50 USD = 24,000 CUP.
100 USD = 48,000 CUP.
Euro (EUR) to Cuban Peso (CUP) Equivalencies:
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.
The fate of the "floating rate" announced by Prime Minister Manuel Marrero in late 2024 remains unknown. Marrero had planned changes to narrow the gap between official and informal currency rates.
Understanding Cuba's Exchange Rate Dynamics
Why has the US dollar decreased in value in Cuba's informal market?
The decrease in the US dollar's value could be attributed to fluctuations in supply and demand dynamics within Cuba's informal market.
How does the stability of the euro impact Cuba's economy?
The stability of the euro offers some predictability for businesses and individuals dealing in euros, though it doesn't necessarily mitigate the broader economic challenges facing Cuba.