Cuba activated a new floating exchange rate on December 18, 2025, aligning it close to the informal market level with the U.S. dollar at around 410 Cuban pesos (CUP), according to UHN Plus on X. The change de facto recognizes the collapse of the previous exchange control system, as reported by UHN Plus during the three-hour period ending at 2:46 PM UTC. This adjustment validates rates dictated by the informal market after years of official controls. UHN Plus described the Cuban peso as devastated, with the economy operating on a patchwork basis amid these developments reported earlier today.
