This Friday morning sees yet another rise in the dollar and euro prices within Cuba's informal market. This marks the sixth consecutive day of increasing rates, as reported by elTOQUE, an independent outlet that has recently faced intensified harassment from the Cuban regime due to its publication of the Informal Market Representative Rate (TRMi).
The dollar's selling price has now reached 465 CUP, reflecting a five-peso increase from the previous day. This uptick is somewhat smaller compared to earlier days when the U.S. currency rose steadily by 10 pesos each day.
Similarly, the euro has climbed from 490 to 500 CUP, a 10-unit increase over the previous day's rate. Meanwhile, the TRMi indicates that the Freely Convertible Currency (MLC) remains stable at 210 CUP, consistent with Thursday's rate.
Today's Exchange Rates in Cuba
On November 14, 2025, at 6:00 a.m., according to elTOQUE, the following exchange rates are observed:
- Dollar (USD) to CUP: 465 CUP
- Euro (EUR) to CUP: 500 CUP
- MLC to CUP: 210 CUP
Is the Informal Market Trend Shifting?
The recent upward movement contrasts sharply with the downward trend seen since late October, when the dollar fell from 485 to 410 CUP, and the euro plummeted from 540 to 450 CUP. However, since November 9, both currencies have been steadily regaining their value.
In just six days, the dollar has recovered by 55 pesos and the euro by 50. Since 2022, the Cuban peso (CUP) has faced persistent devaluation, with only brief pauses or temporary declines that fail to reverse its ongoing depreciation.
Persisting inflation, a shortage of foreign currency, and a lack of trust in the Cuban government's economic policies continue to drive the demand for dollars and euros as safe havens. Additionally, the scarcity of cash and banking connectivity issues on the island further restrict formal transactions, fueling the parallel market.
USD to CUP Exchange Equivalents:
- 1 USD = 465 CUP
- 5 USD = 2,325 CUP
- 10 USD = 4,650 CUP
- 20 USD = 9,300 CUP
- 50 USD = 23,250 CUP
- 100 USD = 46,500 CUP
EUR to CUP Exchange Equivalents:
- 1 EUR = 500 CUP
- 5 EUR = 2,500 CUP
- 10 EUR = 5,000 CUP
- 20 EUR = 10,000 CUP
- 50 EUR = 25,000 CUP
- 100 EUR = 50,000 CUP
- 200 EUR = 100,000 CUP
- 500 EUR = 250,000 CUP
Understanding Cuba's Informal Currency Market
Why are dollar and euro prices rising in Cuba's informal market?
The increase in dollar and euro prices is driven by persistent inflation, a shortage of foreign currency, and a lack of trust in the Cuban government's economic policies. These factors boost demand for foreign currencies as a safer option.
What is the Informal Market Representative Rate (TRMi)?
The TRMi is a rate published by elTOQUE that reflects the exchange rates in Cuba's informal currency market, providing a more accurate representation than official government rates.
How does the informal market impact Cuba's economy?
The informal market affects Cuba's economy by creating a parallel currency system that undermines official policies and reflects the true value of foreign currencies against the Cuban peso.