The euro (EUR) rose again this Tuesday in the Cuban informal market, reaching 530 Cuban pesos (CUP), its highest value so far in 2026.
The European currency is establishing itself as the strongest and most stable currency on the island, widening its advantage over the dollar, which remains at 490 CUP, according to the rate published by the independent observatory elTOQUE.
The Freely Convertible Currency (MLC) remains at 400 CUP, reflecting a slight stability after the fluctuations earlier in the month.
Informal exchange rate in Cuba Tuesday, January 20, 2026 - 06:09
Exchange Rate Evolution
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 490 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 530 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 400 CUP
The increase of the euro by five pesos compared to Monday reinforces the perception that the European currency has become a safe haven for those looking to preserve value amid the decline of the Cuban peso and the volatility of the dollar.
Economists explain that the increase is due to both a lack of liquidity and a growing interest in euros among Cubans who receive remittances from Europe or engage in import operations from the European bloc.
Meanwhile, the gap between the official rates of the Central Bank of Cuba (BCC) —which keeps the euro around 496 CUP— and those in the informal market exceeds 40 pesos, once again highlighting the ineffectiveness of the "floating rate" system that the regime introduced in December.
In practice, the informal market continues to set the real reference for the Cuban economy: the place where prices rise, the peso weakens, and foreign currencies dictate the pace of the crisis.
Filed under: