The informal foreign exchange market in Cuba begins the second week of February with a decline in the Freely Convertible Currency (MLC).
At 7:00 a.m. this Monday, the digital currency used by the Cuban regime drops from 410 to 405 CUP, according to the daily report from the independent media elTOQUE.
The MLC has been engaged in an uninterrupted dance of values for several weeks now, fluctuating primarily between 400 and 415 CUP.
In the case of the dollar and the euro, they remain stable today for the second consecutive day.
Exchange Rate Evolution
The US dollar is sold at an average of 495 CUP, and the European euro at 550 CUP; that is, 55 pesos above its American counterpart.
The elevated values that the dollar and euro maintain in the Cuban informal market continue to reflect the lack of confidence in the national currency and in the economic policies of the Cuban government.
While the authorities continue to urge patience, savings, and greater resilience, the population faces a reality characterized by precariousness, hunger, and uncertainty.
Exchange rate today 09/02/2026 - 7:58 a.m. in Cuba:
Currency exchange rate of the dollar USD to CUP according to elTOQUE: 495 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 550 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 405 CUP.
"I know we are going to face difficult times."
Last week, Díaz-Canel outlined a report on the situation amid the worsening economic, energy, and social crisis facing the country.
"I am not an idealist. I know we are going to face tough times. We have done so before, but now we will overcome them together with creative resilience, effort, and talent," the leader stated.
The leader admitted that 2025 was a "bad year" for the economy.
Hours later, Cuban economist Mauricio de Miranda Parrondo stated: “The Cuban economic system cannot be perfected or updated. The system is the problem. It is necessary to dismantle it.”
According to De Miranda, attempts to reconcile centralized planning with market mechanisms are doomed to fail.
"Everyone who tried to implement reforms that combined central planning and the market has failed," he emphasized in a lengthy analysis published on his Facebook profile.
Foreign exchange market and new mistakes
The economist also directly criticized the new system announced for the allocation of foreign currency, describing it as "another error in economic policy."
He also advocated for the creation of "a legal and transparent currency market with a single exchange rate", which would eliminate the distortions, perverse incentives, and opportunities for corruption generated by the current parallel segments.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of February 9:
1 USD = 495 CUP.
5 USD = 2,475 CUP.
10 USD = 4,950 CUP.
20 USD = 9,900 CUP.
50 USD = 24,750 CUP.
100 USD = 49,500 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 550 CUP.
5 EUR = 2,750 CUP.
10 EUR = 5,500 CUP.
20 EUR = 11,000 CUP.
50 EUR = 27,500 CUP.
100 EUR = 55,000 CUP.
200 EUR = 110,000 CUP.
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