This Wednesday, the informal currency market in Cuba displayed a sense of stability. The prices of the United States dollar, the euro, and the Freely Convertible Currency (MLC) have remained unchanged over the past hours. This information comes from the independent outlet elTOQUE, which has been tracking currency fluctuations in Cuba since 2021. These key currencies have held onto their values from the previous day, with the dollar trading at 460 CUP and the euro at 520 CUP. Meanwhile, the MLC is maintaining a rate of 205 pesos.
Exchange Rate Update: As of October 15, 2025, at 6:54 a.m. in Cuba, elTOQUE reports the following exchange rates: The USD is at 460 CUP, the EUR is at 520 CUP, and the MLC is at 205 CUP.
The Diminishing Purchasing Power in Cuba
Despite the lack of price changes on October 15th in Cuba’s informal market, the continuous rise in the value of the dollar and euro over recent months highlights the island’s economic struggles. For the majority of citizens who earn in the national currency, this trend signifies a severe reduction in purchasing power. The increasing value of the dollar and euro has led to a widespread spike in the cost of essential goods, many of which are imported by entrepreneurs using foreign currency. This situation has further widened the gap between those who receive remittances from abroad and those reliant solely on state salaries.
The absence of a clear monetary policy from the Cuban government, combined with a collapsing productive sector and a shortage of foreign currency within state control, has fueled an unprecedented devaluation spiral. Independent economists caution that if this trend persists, Cuba could face a more severe crisis. The de facto dollarization present in various economic sectors, lacking institutional support or guarantees, exacerbates the vulnerability of the impoverished and fosters a climate of constant uncertainty.
As authorities remain silent or blame “external interests” for the predicament, citizens grapple with soaring prices, inadequate wages, and a national currency that depreciates daily. In this environment, mass emigration, the rise of informal labor, and reliance on remittances have become survival strategies for millions of Cubans.
Currency Conversion Examples
USD to CUP Conversion: According to the exchange rates on October 15th, 1 USD equals 460 CUP. Therefore:
5 USD = 2,300 CUP
10 USD = 4,600 CUP
20 USD = 9,200 CUP
50 USD = 23,000 CUP
100 USD = 46,000 CUP
EUR to CUP Conversion: 1 EUR equals 520 CUP. Thus:
5 EUR = 2,600 CUP
10 EUR = 5,200 CUP
20 EUR = 10,400 CUP
50 EUR = 26,000 CUP
100 EUR = 52,000 CUP
200 EUR = 104,000 CUP
500 EUR = 260,000 CUP
Since the end of 2024, the Cuban government announced plans to implement a floating exchange rate system in 2025 to bridge the gap between official and informal currency values. Yet, as the year draws to a close, the regime has yet to make any further statements on the matter.
Frequently Asked Questions on Cuba’s Currency Situation
What is the current value of the USD in Cuban pesos?
As of October 15, 2025, the USD is valued at 460 Cuban pesos in the informal market.
How does the rise in USD and Euro affect Cubans?
The increase in USD and Euro values leads to higher prices for basic goods, reducing purchasing power for those earning in the national currency and widening the economic gap.
What measures has the Cuban government announced regarding currency exchange rates?
The Cuban government announced intentions to introduce a floating exchange rate system in 2025, but has not provided further details.
