Today's elTOQUE tasa representativa del mercado informal (TRMI) USD/CUP rate, the Banco Central de Cuba (BCC) official reference, plus a free converter and the MLC context every Cuba-exposed investor needs.
Source: elTOQUE — Tasas de cambio (TRMI methodology). Cross-check with the Banco Central de Cuba official reference rate. Refreshed each pipeline run; cached value displayed below if the upstream feed is unreachable.
Cuba runs three parallel rates: the BCC official rate (state accounting), the MLC retail token, and the elTOQUE TRMI informal rate — usually several multiples above the official one during currency stress.
The Banco Central de Cuba publishes an official CUP/USD reference rate used for state-enterprise accounting, customs valuations, and public-sector transactions. The state also operates the MLC (Moneda Libremente Convertible), a partially convertible token used in MLC-only retail outlets and for hard-currency remittances. The actual day-to-day price discovery for hard currency happens in the informal market tracked by elTOQUE’s TRMI (tasa representativa del mercado informal). Investors need all three layers to value Cuba-exposed cash flows, settle import bills, or repatriate JV dividends.
Capital repatriation from Cuban joint-venture (Empresa Mixta) profits routes through the BCC-licensed banking channel, with hard-currency availability rationed by the central bank during balance-of-payments squeezes. Mariel ZED concession-holders get a more permissive regime under Ley 118 / Decreto 313, but BCC liquidity is still the binding constraint. Layer the US side on top: CACR (31 CFR Part 515) prohibits most US-person Cuba transactions absent an OFAC license, and US-issued Visa/Mastercard cards don’t work on the island. Quote portfolio returns in USD-equivalent terms using a defensible rate — BCC official for accounting, TRMI for economic substance.