For the third day in a row, foreign currencies appear to be stable in Cuba this Wednesday. The prices for the three main currencies—dollars, euros, and Moneda Libremente Convertible (MLC)—have neither risen nor fallen. Despite this apparent stability, the median trading value indicates an increase for the U.S. dollar, which has reached 395 Cuban Pesos (CUP) in informal transactions. The coming hours will reveal whether this upward trend for the American currency solidifies in Cuba’s informal market.
At 10:00 a.m. local time this Wednesday, the U.S. dollar remains pegged at 390 CUP for sale, indicating no change from previous rates. Similarly, the euro holds steady at 440 CUP, while the MLC stays unchanged at 220 CUP. Regarding the euro, the median buying value has decreased to 335 CUP, though the selling value remains at 440 CUP.
Current Exchange Rates in Cuba
As of July 30, 2025, at 10:08 a.m., the exchange rates according to elTOQUE are as follows:
- USD to CUP: 390 CUP
- EUR to CUP: 440 CUP
- MLC to CUP: 220 CUP
Currency Equivalents
The equivalence for U.S. dollar bills to Cuban pesos based on today’s rates is:
- 1 USD = 390 CUP
- 5 USD = 1,950 CUP
- 10 USD = 3,900 CUP
- 20 USD = 7,800 CUP
- 50 USD = 19,500 CUP
- 100 USD = 39,000 CUP
For euro bills, the conversion is:
- 1 EUR = 440 CUP
- 5 EUR = 2,200 CUP
- 10 EUR = 4,400 CUP
- 20 EUR = 8,800 CUP
- 50 EUR = 22,000 CUP
- 100 EUR = 44,000 CUP
- 200 EUR = 88,000 CUP
- 500 EUR = 220,000 CUP
Earlier this month, Cuba’s Prime Minister, Manuel Marrero Cruz, addressed the National Assembly of People’s Power (ANPP) to announce a new “management, control, and allocation mechanism for foreign exchange” set to roll out in the second half of 2025. This initiative is part of the so-called “Government Program to correct distortions and reinvigorate the economy.”
Marrero outlined that the new plan will involve transforming the official exchange market, consolidating financial frameworks, and allegedly redistributing foreign currency generated by state enterprises more effectively. Meanwhile, the informal market continues to lead the way as the Cuban peso devalues, making remittances from emigrants a critical lifeline for millions of families. Cubans remain compelled to purchase dollars on the street to buy food, medicine, or pay for immigration processes.
Experts have long cautioned that any attempt to overhaul Cuba’s currency system without an inclusive policy could exacerbate inequality. Without real access to foreign currency, ordinary Cubans find themselves trapped in a parallel economy that harshly impacts the most vulnerable.
Understanding Cuba’s Informal Currency Market
Why is the informal market so influential in Cuba?
The informal market in Cuba is influential because it reflects the real demand for foreign currencies, which are necessary for purchasing essential goods and services not readily available through official channels.
What challenges does the Cuban economy face with its currency system?
Cuba’s currency system faces challenges such as inflation, limited access to foreign exchange, and the reliance on remittances, which create a parallel economy that often leaves the most disadvantaged at risk.
How does the new government initiative aim to address currency distortions?
The new government initiative plans to address currency distortions by transforming the official exchange market and consolidating financial schemes to redistribute foreign currency more efficiently, although its effectiveness remains to be seen.
