This Tuesday, the euro and the freely convertible currency (MLC) are seeing significant price increases in the informal market in Cuba.
At 9:00 a.m. this Tuesday, the European currency has risen from 550 to 555 CUP, according to the daily report from the independent media elTOQUE.
The MLC, for its part, rises from 405 to 410 CUP.
The digital currency used by the Cuban regime has been in a continuous dance of values for several weeks, fluctuating primarily between 400 and 415 CUP.
Exchange Rate Evolution
In the case of the dollar, it remains stable today for the third consecutive day.
The US dollar is sold at an average of 495 CUP which is 60 pesos below the value of its European counterpart.
The high values maintained by the dollar and the euro in the informal Cuban market continue to reflect the lack of confidence in the national currency and in the economic policies of the Cuban government.
While authorities insist on demanding more resilience, the population faces a reality marked by precariousness, hunger, and uncertainty.
Exchange rate today 10/02/2026 - 9:28 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 495 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 555 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 410 CUP.
Last week, Díaz-Canel outlined a report on the situation amid the worsening economic, energy, and social crisis the country is experiencing.
"I am not an idealist. I know we are going to face tough times. We have done it before, but this time we will overcome together with creative resilience, effort, and talent," the leader stated.
The ruler acknowledged that 2025 was a "bad year" for the economy.
Hours later, the Cuban economist Mauricio de Miranda Parrondo stated: “The Cuban economic system cannot be perfected or updated. The system itself is the problem. It needs to be dismantled.”
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 with the market has failed," he emphasized in an extensive 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 exchange, calling it "a new 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 distortions, perverse incentives, and the space for corruption generated by the current parallel segments.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), based on the exchange rates from February 9th:
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) bills to Cuban Peso (CUP):
1 EUR = 555 CUP.
5 EUR = 2,775 CUP.
10 EUR = 5,550 CUP.
20 EUR = 11,100 CUP.
50 EUR = 27,750 CUP.
100 EUR = 55,500 CUP.
200 EUR = 111,000 CUP.
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