It seemed like a change was underway, but not quite. In recent hours, the Freely Convertible Currency (MLC) in Cuba has declined, losing the five pesos it had recently gained and is now back at 190 CUP. Over the past two days, many internet users speculated on social media about the sudden rise of the MLC, attributing it to the availability of sausages and interesting products in the increasingly rare MLC stores, or suggesting it was struggling but not yet defunct. Nonetheless, the Freely Convertible Currency has retreated, raising the likelihood of its imminent exit from the Cuban economic landscape.
Meanwhile, the dollar remains priced at 410 CUP, and the euro continues to be sold at an average of 460 CUP, as reported by the daily update from elTOQUE.
Exchange Rates as of September 6, 2025 – 7:49 a.m. in Cuba:
- USD to CUP: 410 CUP
- EUR to CUP: 460 CUP
- MLC to CUP: 190 CUP
Back in July, Manuel Marrero announced planned reforms to Cuba’s official exchange market, intended to be implemented in the second half of the year. However, there have been no updates on this front. Recently, the Cuban regime declared that the average monthly salary rose to 6,649 pesos in the first half of 2025, marking a 16.4% increase compared to the same period last year. This statistic, released by the National Office of Statistics and Information (ONEI) and shared by Cubadebate, was portrayed as a positive outcome of the government’s economic policies. However, this increase offers little relief amid a severe inflation crisis and the ongoing devaluation of the Cuban peso.
The figures clash with everyday realities: the informal market rate shows the dollar steady at 410 CUP, making the new average salary only about 16.22 dollars per month. In essence, a worker’s monthly earnings barely cover even a fraction of their basic needs.
Conversion of U.S. Dollar (USD) to Cuban Peso (CUP) as of September 4:
- 1 USD = 410 CUP
- 5 USD = 2,050 CUP
- 10 USD = 4,100 CUP
- 20 USD = 8,200 CUP
- 50 USD = 20,500 CUP
- 100 USD = 41,000 CUP
Conversion of Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 460 CUP
- 5 EUR = 2,300 CUP
- 10 EUR = 4,600 CUP
- 20 EUR = 9,200 CUP
- 50 EUR = 23,000 CUP
- 100 EUR = 46,000 CUP
- 200 EUR = 92,000 CUP
- 500 EUR = 230,000 CUP
Understanding Cuba’s Currency Situation
Why did the MLC drop in value?
The decline in MLC is attributed to multiple factors, including speculation about product availability in MLC stores and its uncertain future in the Cuban economy.
What is the current exchange rate for the U.S. dollar in Cuba?
As of September 6, 2025, the exchange rate for the U.S. dollar is 410 CUP according to elTOQUE.
How does the average Cuban salary compare to the cost of living?
Despite a reported increase in the average salary, it equates to roughly 16.22 dollars monthly, which is insufficient to meet basic living expenses in Cuba due to high inflation and currency devaluation.
