The Freely Convertible Currency (MLC) continues to exhibit signs of volatility in Cuba's informal market.
Recently, its selling price has climbed once again, reaching 295 CUP, inching closer to the 300 CUP threshold.
Today’s sale price for the digital currency used by the Cuban regime reflects a five-unit increase compared to the previous day's value.
In recent days, the MLC has experienced a rollercoaster trend, with sudden drops or spikes in its average selling value.
Meanwhile, the American and European currencies remain steady.
The US dollar has been priced at 445 CUP for the second consecutive day, a rate it reached earlier this week.
Similarly, the euro shows no changes, continuing to sell at 490 CUP, as reported on December 10 by the independent outlet elTOQUE, which tracks the fluctuating prices of foreign currencies in Cuba.
Exchange rates on 12/10/2025 - 6:52 a.m. in Cuba:
USD to CUP exchange rate according to elTOQUE: 445 CUP.
EUR to CUP exchange rate according to elTOQUE: 490 CUP.
MLC to CUP exchange rate according to elTOQUE: 295 CUP.
MLC: The Phoenix of Cuba's Informal Market
Throughout much of 2025, the informal exchange rate of the Freely Convertible Currency significantly declined against the Cuban peso.
This decline was driven by a loss of public confidence, the increased use of cash dollars, and the reduction of available products in state-run stores operating in MLC.
These factors fueled persistent rumors for months about its imminent disappearance as a significant payment method in the Cuban economy.
Nevertheless, despite these warnings, the MLC has not vanished but instead demonstrated a remarkable ability to survive.
The MLC remains an ambiguous monetary instrument: in decline, yet still operational.
USD and EUR to CUP Conversion Rates
USD to CUP equivalence, based on December 5th exchange rates:
- 1 USD = 445 CUP
- 5 USD = 2,225 CUP
- 10 USD = 4,450 CUP
- 20 USD = 8,900 CUP
- 50 USD = 22,250 CUP
- 100 USD = 44,500 CUP
EUR to CUP equivalence:
- 1 EUR = 490 CUP
- 5 EUR = 2,450 CUP
- 10 EUR = 4,900 CUP
- 20 EUR = 9,800 CUP
- 50 EUR = 24,500 CUP
- 100 EUR = 49,000 CUP
- 200 EUR = 98,000 CUP
- 500 EUR = 245,000 CUP
In recent weeks, the Cuban government has intensified its crackdown on the informal currency market and the reference rates published by the independent outlet elTOQUE.
This offensive includes criminal investigations, threats against exchange operators, and a communication strategy focused on discrediting alternative sources for dollar, euro, and other currency pricing.
Understanding Cuba's Currency Market Fluctuations
Why is the MLC experiencing volatility in Cuba?
The MLC's volatility is attributed to factors such as declining public confidence, increased cash dollar usage, and reduced product availability in MLC state-run stores.
How does the Cuban government respond to the informal currency market?
The government has launched investigations, issued threats to exchange operators, and attempted to discredit alternative currency price sources to control the informal market.
What are the current exchange rates for USD and EUR to CUP?
As per the latest data, the USD is exchanged at 445 CUP, and the EUR is exchanged at 490 CUP.