The price of foreign currency on the Cuban informal market today: increases that double the official rates

Foreign currencies hit new records on the Cuban informal market: the euro remains stable at 400. CUP for days, but the Canadian dollar is rising on the black market. The informal market rates far exceed the Central Bank's official values, reflecting the acute shortage of foreign currency at CADECA.

The informal foreign exchange market in Cuba continues its rapid rise. According to real-time monitoring by the independent media outlet El Toque, this June 10th 2025 the euro has reached the figure of 400 Cuban pesos (CUP), while the US dollar is quoted at 375 CUP, the Canadian dollar in 245 CUP (with a huge increase of five pesos more), and the MLC (Freely Convertible Currency) in 260 CUP.

Even transfers by Zelle are already handled in the 375 CUP, demonstrating the preference of many for alternative means in the face of a lack of cash and liquidity.

Currencies on the rise in the Cuban informal market

These values ​​contrast sharply with the official rates established by the Central Bank of Cuba (BCC).

According to data valid until June 10, the US dollar maintains an official exchange rate for the population of 120 CUP, while the euro is at 137.02 CUP and the Canadian dollar in 87.77 CUP.

This difference of more than 200% in some cases reflects the growing disconnect between the official and parallel markets.

One of the key factors explaining this disparity is the liquidity crisis facing the Cuban government, which has significantly reduced the availability of foreign currency in CADECA, state exchange houses.

This has forced the population to turn to the informal market, where supply is scarce and demand continues to rise, especially for personal imports, travel abroad, embassy procedures, and digital payments.

As long as the government fails to stabilize the economy and guarantee access to foreign currency at reasonable rates, the The informal market will continue to set the real exchange rate pattern. for Cubans.