The week kicks off with a new high in Cuba’s informal market for the euro. As of August 4th, the European currency has surged to 445 CUP, according to the daily report from elTOQUE, which tracks currency fluctuations on the island. This marks an increase of five units since July 24th.
Meanwhile, both the U.S. dollar and the Freely Convertible Currency (MLC) remain steady. The dollar is still valued at 395 CUP, a record figure reached this past Sunday. The MLC has stayed constant at 220 CUP for several days. As of the close of this report, the median value shows 398 CUP for the sale of the dollar, while the euro has dipped slightly to 444 CUP.
Exchange Rates for August 4, 2025
As of 8:08 a.m. in Cuba, the exchange rates provided by elTOQUE are as follows:
- USD to CUP: 395 CUP
- EUR to CUP: 445 CUP
- MLC to CUP: 220 CUP
Current Conversion Rates
Here are the current conversions from U.S. dollars and euros to Cuban pesos:
For the U.S. Dollar (USD):
- 1 USD = 395 CUP
- 5 USD = 1,975 CUP
- 10 USD = 3,950 CUP
- 20 USD = 7,900 CUP
- 50 USD = 19,750 CUP
- 100 USD = 39,500 CUP
For the Euro (EUR):
- 1 EUR = 445 CUP
- 5 EUR = 2,225 CUP
- 10 EUR = 4,450 CUP
- 20 EUR = 8,900 CUP
- 50 EUR = 22,250 CUP
- 100 EUR = 44,500 CUP
- 200 EUR = 89,000 CUP
- 500 EUR = 222,500 CUP
Upcoming Economic Changes
In mid-July, Cuban Prime Minister Manuel Marrero Cruz informed the National Assembly of the People’s Power (ANNP) about the implementation of a new “management, control, and allocation mechanism for currency” in the second half of 2025. This initiative is part of the “Government Program to Correct Distortions and Boost the Economy.”
According to Marrero, the new model will involve transforming the official exchange market, consolidating financing schemes, and supposedly redistributing state-generated foreign exchange more efficiently. However, the informal market remains influential, with the Cuban peso’s value declining and remittances from emigrants serving as the main support for millions of households across the country.
FAQs on Cuba’s Currency Market
Why has the euro reached a record high in Cuba?
The euro has reached a record high due to fluctuations in the informal market and a diminishing value of the Cuban peso.
What changes are anticipated in Cuba’s official currency market?
Cuba plans to reform its official currency market, consolidate financing schemes, and improve the distribution of foreign exchange from state enterprises.
How are remittances impacting Cuban households?
Remittances from emigrants play a crucial role in supporting millions of Cuban families amidst declining currency value.
