The value of the U.S. dollar has dropped to 440 Cuban pesos (CUP) in Cuba’s black market as of Monday, according to the latest figures from elTOQUE.
The American dollar remains the most sought-after currency among Cubans for cash transactions and remittances. Over the past few days, its value has been on a downward trend. This Monday, it opened 10 pesos lower than the previous day.
Meanwhile, the euro is trading at 500 Cuban pesos today, which is also 10 pesos less than on Sunday. Despite the decrease, it remains the strongest currency in the informal market. Cubans show a preference for saving in euros due to its relative stability compared to the devalued CUP.
The freely convertible currency (MLC), used in state-run stores, stands at 205 Cuban pesos per unit. While its value is lower than the dollar and the euro, it serves as a crucial benchmark for purchasing essential goods within the government-controlled trade system.
Informal Exchange Rates in Cuba – Monday, November 3, 2025, 06:00 AM:
U.S. Dollar (USD) to Cuban Peso (CUP): 440 CUP
Euro (EUR) to Cuban Peso (CUP): 500 CUP
Freely Convertible Currency (MLC) to Cuban Peso (CUP): 205 CUP
Conversion Rates from U.S. Dollar to Cuban Peso:
1 USD = 440 CUP
5 USD = 2,200 CUP
10 USD = 4,400 CUP
20 USD = 8,800 CUP
50 USD = 22,000 CUP
100 USD = 44,000 CUP
Conversion Rates from Euro to Cuban Peso:
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 Black Market Currency Dynamics
Why is the U.S. dollar in high demand among Cubans?
The U.S. dollar is highly sought after because it is widely used for cash transactions and receiving remittances from abroad, providing a more stable value than the Cuban peso.
How does the euro compare to the U.S. dollar in Cuba’s informal market?
The euro is considered the strongest currency in the black market, appealing to Cubans who prefer to save in a more stable currency amidst the Cuban peso’s devaluation.
