In recent hours, the euro has seen a price surge in the informal foreign exchange market in Cuba.
At 7:00 a.m. on February 5th, the euro rises to 540 CUP, according to a report today from the independent media elTOQUE. This figure represents an increase of five pesos compared to the previous day.
No changes today the dollar, which is trading again at 490 CUP.
The Freely Convertible Currency, for its part, remains at 400 CUP for the third consecutive day, which has been a recurring value for that digital currency in recent weeks.
Exchange Rate Evolution
These figures once again reflect the widespread distrust in the Cuban peso and the increasing dollarization of the informal economy, where access to foreign currency, or lack thereof, defines the real purchasing power of citizens.
The dollar and the euro, in particular, have become safe havens for value in the face of inflation and the ongoing loss of purchasing power of the CUP.
Exchange rate today 05/02/2026 - 7:35 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 490 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 540 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 400 CUP.
The informal exchange rate in Cuba continues to set the tone for the country's economic reality, well above the official rate maintained by the regime.
This is compounded by the fact that the official "floating rate" for the dollar and the euro, implemented by the government in mid-December 2025, has resolved nothing and has not impacted the actual course of the informal currency market.
The weakness of the Cuban peso is a direct consequence of a combination of structural factors: an inefficient state-run economy, a collapsed national production, a lack of foreign investment, and repression of the private sector.
The most visible result is the accelerated impoverishment of the population: salaries in pesos barely cover a fraction of basic needs, while essential products—such as food, medicine, and fuel—are sold in foreign currency or at unaffordable prices.
This gap between the peso and strong currencies not only reflects a severe economic crisis but also the total loss of credibility in the Cuban financial system.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on February 5th:
1 USD = 490 CUP.
2 USD = 980 CUP.
5 USD = 2,450 CUP.
10 USD = 4,900 CUP.
20 USD = 9,800 CUP.
50 USD = 24,500 CUP.
100 USD = 49,000 CUP.
Equivalence of Euro (EUR) notes to Cuban Peso (CUP):
1 EUR = 540 CUP.
5 EUR = 2,700 CUP.
10 EUR = 5,400 CUP.
20 EUR = 10,800 CUP.
50 EUR = 27,000 CUP.
100 EUR = 54,000 CUP.
200 EUR = 108,000 CUP.
500 EUR = 270,000 CUP.
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