The weekend brought a new surprise in the informal currency market in Cuba: the increase in value of the largely ignored MLC.
In the midst of a campaign of complaints by the Government and the official media against the opposition media The Touchthe island’s electronic currency broke the fluctuations that in recent weeks had kept it around 205 pesos (CUP).
While hard currencies have remained lower in recent days, the MLC has been climbing. Just last Thursday its average value was 210 CUP and this Monday it is already 235, according to the controversial exchange rate. The Touchwhich despite the accusations against it continues to be a reference for many informal sellers and buyers.
This represents an increase of 25 pesos in its price in just a few days, undoubtedly a striking rebound for a currency that fell out of favor as a result of the government’s push for the dollarization process.
Meanwhile, the dollar and the euro maintained their most recent quotes this morning: 435 CUP for the US currency and 480 for the European currency, the latter after falling yesterday up to that value.
Update of informal currency market rates in Cuba
Date: 11/24/2025Image 1: Representative rate of the informal market (elTOQUE)
EUR: 480.00 CUP
USD: 435.00 CUP
MLC: 235.00 CUPThere are offers in the ranges:
EUR: from 460.00 to 500.00 CUP
USD: from 370.00 to 500.00 CUP
MLC:… pic.twitter.com/mgiptuzaVv— The Touch (@eltoquecom) November 24, 2025
Momentary or sustained rebound?
With stores in MLC losing ground to new dollarized establishments, as part of the Government’s commitment to increasingly extensive dollarization in Cuba, the MLC had been losing ground against foreign currencies throughout 2025.
However, throughout the year it has experienced fluctuations and even a surprising rebound in February. Then its value was boosted by the momentary reactivation of the supply of some products in stores in that currency, such as cigarettes, and the demand that arose to buy these products and their resale in the informal market.
In that context, it jumped from 240 CUP—which was its lowest value in months—to 285 CUP in just a few weeks. However, it then suddenly stopped and little by little began to recede, in a progressive downward trend, despite the authorities ensuring that the electronic currency will continue to operate on the island and its bank accounts will not disappear.
In this setback, the MLC returned to the previous point and continued to fall until it fell below 200 in August. However, in September it returned above that barrier and has remained above it since then, with fluctuations within a limited range.
Its jump in recent days is, therefore, the most significant in three months and occurs in the midst of a worsening of the economic and energy crisis on the island, with severe shortages of basic products and prolonged blackouts, to which is added the damage caused by Hurricane Melissa.
Furthermore, it takes place while Cubans are still waiting for the implementation of the new floating rate exchange rate regime, announced by Prime Minister Manuel Marrero for the second half of the year, but still pending officialization with just over a month to go until the end of 2025.
