This Saturday, December 13, 2025, brings a notable shift in Cuba's informal currency exchange market, highlighting the uneven paths of the three dominant foreign currencies circulating within the island.
As of today, the exchange rate for the U.S. dollar (USD) remains steady at 440 Cuban pesos (CUP), mirroring the stability observed in the euro (EUR), which is trading at the same rate as the previous day, 485 CUP.
Informal Exchange Rates in Cuba - Saturday, December 13, 2025 - 04:35
USD to CUP rate: 440 CUP
EUR to CUP rate: 485 CUP
Freely Convertible Currency (MLC) to CUP rate: 300 CUP
The Freely Convertible Currency (MLC) has reached a new historic peak of 300 CUP, marking a continued upward trend that has persisted for weeks. This electronic currency, tightly controlled by the Cuban government, has become increasingly desirable among Cubans, possibly driven by recent governmental announcements regarding establishing an official exchange rate and promoting economic dollarization—moves that appear to be bolstering the regime's own digital currency.
Over the past month, the MLC has surged nearly 40%, climbing from approximately 215 CUP in early November to its current level of 300 CUP, according to daily data from elTOQUE, an independent outlet monitoring the non-official currency market.
In stark contrast, the U.S. dollar has shown little movement during the second week of December, fluctuating between 435 and 445 CUP. This apparent stability does not signify actual strength of the Cuban peso but rather reflects the caution exercised by traders in response to increased scrutiny and threats by the Cuban regime against informal currency exchanges.
The euro, meanwhile, continues to exhibit weakness. After hitting a range of 490–500 CUP toward the end of November, it has dropped by approximately 15 pesos, now resting at 485 CUP, its lowest point since early this month.
The rise of the MLC underscores a significant contradiction within Cuba's economic model: the currency, designed by the state to limit the majority's consumption, paradoxically stands as the most valued asset in the parallel market.
Amidst an economic crisis characterized by persistent inflation, shortages of food and energy, and wages insufficient to meet basic needs, the informal market remains the most reliable indicator of the Cuban peso's true value.
Understanding Cuba's Currency Market Fluctuations
What is the current exchange rate for the U.S. dollar in Cuba's informal market?
As of December 13, 2025, the U.S. dollar is trading at 440 Cuban pesos in the informal market.
Why is the MLC becoming more popular in Cuba?
The MLC is gaining popularity as it reflects a stable and increasingly valuable asset in Cuba's economy, spurred by government moves toward economic dollarization and establishing an official exchange rate.
How has the euro performed in Cuba's informal market recently?
Recently, the euro has weakened, falling from a high of 490–500 CUP to 485 CUP, reaching its lowest level since the start of the month.