The U.S. dollar experienced another rise this Saturday in Cuba’s informal market, reinforcing its upward trajectory and confirming the recovery of major foreign currencies against the Cuban peso.
According to the Informal Market Representative Rate (TRMi) released by elTOQUE, the dollar (USD) is valued at 470 Cuban pesos (CUP) this Saturday, November 15, a five-peso increase from the previous day.
Informal Exchange Rates in Cuba: November 15, 2025
Exchange rate of the dollar (USD) to Cuban pesos (CUP): 470 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 500 CUP
Exchange rate of the Freely Convertible Currency (MLC) to Cuban pesos (CUP): 210 CUP
The euro (EUR) remains steady at 500 CUP, while the Freely Convertible Currency (MLC) holds its ground at 210 CUP.
A Week of Uninterrupted Gains
With Saturday’s climb, the dollar marks seven consecutive days of increases, having dropped to 410 CUP at the beginning of the month, its lowest point since August.
In just a week, the U.S. currency has regained 60 pesos, now standing 20 Cuban pesos below its peak of 490 CUP recorded in late October, indicating a market correction and increasing pressure on exchange rates.
Meanwhile, the euro stabilizes at the 500 CUP threshold after a strong rebound in recent days. The European currency fell to 450 amid recent declines, after reaching a historic high of 540 at the end of October, a level it seems to be targeting once again.
Together, both currencies confirm the upward trend that began on November 9, ending the downward streak that prevailed in the second half of October.
Inflation and Distrust Fuel Demand
The sustained rise in foreign currencies is driven by unresolved structural issues: persistent inflation, cash shortages, banking restrictions, and deep-seated distrust in the Cuban peso and the economic institutions of the regime.
The lack of official transparency and the Cuban regime’s silence on the promised “floating rate” exacerbate uncertainty, as the informal market continues to serve as the true indicator of the national currency’s value.
Frequently Asked Questions About Currency Exchange in Cuba
Why is the U.S. dollar rising in Cuba’s informal market?
The U.S. dollar is rising due to unresolved structural issues such as persistent inflation, cash shortages, and a lack of trust in the Cuban peso and economic institutions.
What is the current exchange rate of the euro in Cuba’s informal market?
As of November 15, 2025, the euro is valued at 500 Cuban pesos in Cuba’s informal market.
How does the informal market affect the value of the Cuban peso?
The informal market acts as a real indicator of the Cuban peso’s value, influencing perceptions and demand due to the regime’s lack of transparency and official exchange rate guidance.
