Cuba’s informal currency exchange market saw the euro reach a new all-time high this Monday, following a significant rise in the dollar on Sunday. The European Union’s common currency climbed to 505 pesos, while the dollar remained steady at 445 CUP, and the MLC held at 210 pesos, consistent with the previous day’s rates.
Informal Exchange Rates in Cuba
Monday, October 6, 2025 – 12:00 PM
Dollar (USD) to Cuban pesos (CUP): 445 CUP
Euro (EUR) to Cuban pesos (CUP): 505 CUP
MLC to Cuban pesos (CUP): 210 CUP
After breaking the symbolic threshold of 500 CUP last Wednesday, the euro continues its unprecedented rise, establishing itself as the most expensive currency in the market. Despite the apparent stability in recent days, experts had warned it was merely a “temporary foothold” before further increases, which have now been realized.
In contrast, the MLC—used for purchases in state-run stores—remains stable at 210 CUP. However, its behavior in recent weeks indicates underlying volatility. This price remains far from the official value of 120 CUP, highlighting the vast gap between the government’s rhetoric and the market reality.
The dollar, having added over 20 pesos in a week, reflects the intense pressure on the national currency amid shortages, persistent inflation, and the government’s lack of effective economic measures.
The question echoes through the streets and social media: How far and how long can the Cuban peso withstand this relentless surge in foreign currencies?
Understanding Cuba’s Currency Challenges
Why is the euro rising in Cuba’s informal market?
The euro is rising due to increased demand and limited supply, compounded by the Cuban government’s ineffective economic policies and ongoing currency devaluation.
What is causing volatility in the MLC exchange rate?
The MLC’s volatility is due to its dependence on state-controlled retail operations and the disconnect between its official and market values.
How does the informal market impact everyday Cubans?
The informal market affects Cubans by influencing their purchasing power and access to essential goods, as it reflects the true value of foreign currencies compared to the national currency.
