On December 31, the U.S. dollar concluded the year trading at 435 Cuban pesos (CUP) in the unofficial market, according to the exchange rate shared by elTOQUE.
The American dollar continues to show strength against the Cuban peso, driven by the significant demand from Cubans who rely on remittances and cash transactions due to the scarcity of foreign currency in banks and state-run CADECA exchange offices. Despite the regime's attempts to control inflation, the U.S. dollar remains the main reference for everyday transactions.
Meanwhile, the euro held steady at 480 CUP, establishing itself as the most expensive currency in the informal market. Its ongoing increase highlights the declining trust in the Cuban peso and the preference for European currencies for travel and savings.
The value of the Freely Convertible Currency (MLC), however, saw a decline this Wednesday, trading at 400 CUP. This marks a drop of 10 pesos from the previous day.
The year's end confirms the trend of the Cuban peso's devaluation and the continued rise in the cost of foreign currencies.
Informal Exchange Rates in Cuba
Wednesday, December 31, 2025 - 05:00
Exchange rate for the U.S. dollar (USD) to Cuban pesos (CUP): 435 CUP
Exchange rate for the euro (EUR) to Cuban pesos (CUP): 480 CUP
Exchange rate for the Freely Convertible Currency (MLC) to Cuban pesos (CUP): 400 CUP
Currency Conversion for Dollar and Euro to Cuban Peso
Dollar to Cuban pesos:
$1 USD → 435 CUP
$2 USD → 870 CUP
$5 USD → 2,175 CUP
$10 USD → 4,350 CUP
$20 USD → 8,700 CUP
$50 USD → 21,750 CUP
$100 USD → 43,500 CUP
Euro to Cuban pesos:
€5 EUR → 2,400 CUP
€10 EUR → 4,800 CUP
€20 EUR → 9,600 CUP
€50 EUR → 24,000 CUP
€100 EUR → 48,000 CUP
€200 EUR → 96,000 CUP
€500 EUR → 240,000 CUP
Understanding Cuba's Currency Market Dynamics
Why is the U.S. dollar strong in Cuba's black market?
The U.S. dollar remains strong due to high demand from Cubans dependent on remittances and cash transactions, amid a shortage of foreign currency in banks and state exchange offices.
What factors contribute to the euro's high value in Cuba?
The euro's high value is attributed to a preference for European currencies for travel and savings, alongside a diminishing confidence in the Cuban peso.
How has the value of the Freely Convertible Currency (MLC) changed?
The MLC's value decreased recently, trading at 400 CUP, which is a 10 peso drop from the previous day's rate.