The value of the euro has soared again in the Cuban black market, reaching 405 CUP this Thursday, a figure that sets a record for the trading of the European currency in informal exchanges on the island.
The previous record was set recently when it reached 404 CUP, an amount higher than the 402.5 pesos it sold for in May 2024.
In the case of the dollar, it remains unchanged, valued at 375 CUP.
No changes either to the Freely Convertible Currency, which continues to be sold at 260 CUP.
Exchange Rate Evolution
An article published this Tuesday by elTOQUE anticipated - based on an analysis from the Observatory of Currencies and Finances of Cuba (OMFi) - that the currency market for the remainder of June is likely to become "more active and erratic" than in previous months.
Exchange rate today 12/06/2025 - 7:21 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 375 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 405 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 260 CUP.
Exchange market: Between the stability of May and the volatility of June
In its analysis, the mentioned independent outlet notes that during May, the informal foreign exchange market in Cuba experienced a relative calm.
The euro has consolidated its position as the most profitable currency, increasing its purchasing power in CUP by 14.8% in three months, compared to 8.2% for the US dollar.
In contrast, the freely convertible currency (MLC) lost 7% of its value during the same period.
The dollar showed great stability, rising only 3 CUP (0.82%) over the month. This behavior also stabilized the MLC, which closed May at 270 CUP per unit, the same value as in April, thereby halting the steady decline that had begun in March.
Projections for June: An upward pressure on currencies is anticipated
The Observatory of Coins and Finances of Cuba (OMFi) anticipates a change in dynamics for June.
They warn that while May was characterized by an excess supply, June could be dominated by an excess demand, which would drive up currency rates.
According to the OMFi's forecasting models, the likely values for the exchange rate in Cuba as of June 30, 2025, would be as follows:
-For the US dollar (USD), a central value of 385 Cuban pesos is projected, with a maximum value of 408 and a minimum of 365.
As for the euro (EUR), a central value of 406 Cuban pesos is estimated, with a maximum of 421 and a minimum of 385.
Finally, for the Freely Convertible Currency (MLC), the forecast indicates a central value of 274 Cuban pesos, reaching a maximum of 284 and a minimum of 260.

In all cases, the indicators show an upward trend compared to the current values. Equivalences of each available euro and US dollar bill to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for this June 12:
1 USD = 375 CUP.
5 USD = 1,875 CUP.
10 USD = 3,750 CUP.
20 USD = 7,500 CUP.
50 USD = 18,750 CUP.
100 USD = 37,500 CUP.
EUROS (EUR)
1 EUR = 405 CUP.
5 EUR = 2.025 CUP.
10 EUR = 4,050 CUP.
20 EUR = 8,100 CUP.
50 EUR = 20,250 CUP.
100 EUR = 40,500 CUP.
200 EUR = 81,000 CUP.
500 EUR = 202,500 CUP.
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