The informal currency market in Cuba opened on March 3rd with an increase in the price of the Freely Convertible Currency (MLC), according to the daily monitoring by elTOQUE.
The dollar is currently holding at 510 CUP reached over the weekend.
Otherwise, at 6:00 a.m. (Cuban local time) this Tuesday, the euro remains at 570 CUP.
The Freely Convertible Currency for its part, increases to 413 CUP, which represents three pesos more than its previous value.
Exchange Rate Evolution
Amid the political instability unleashed in the world by the U.S. attack on Iran and the pervasive Cuban crisis, the dollar and the euro have currently reached a tentative stability that has lasted for 48 hours.
Exchange rate today 03/03/2026 - 6:35 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 510 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 570 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 413 CUP.
The rates published by elTOQUE have become a key indicator for measuring the actual evolution of the Cuban peso against foreign currencies, in a context where the official exchange rate (1 USD = 24 CUP for legal entities and 1 USD = 120 CUP in the state exchange market) remains well below the values that prevail in everyday practice.
This is complemented by the so-called "floating" exchange rate, which, although presented as a more flexible mechanism since mid-December, remains far from the informal rate and fails to meet the actual demand for foreign currency from the population.
The gap between the official and informal exchange rates reflects the ongoing shortage of foreign currency in the state banking system and the high demand for dollars and euros by the population, whether to emigrate, import goods, protect savings, or make purchases in the private sector.
In an environment of sustained inflation, low state wages, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects internal prices and the purchasing power of Cubans.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates on March 3rd:
1 USD = 510 CUP.
5 USD = 2,550 CUP.
10 USD = 5,100 CUP.
20 USD = 10,200 CUP.
50 USD = 25,500 CUP.
100 USD = 51,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 570 CUP.
5 EUR = 2,850 CUP.
10 EUR = 5,700 CUP.
20 EUR = 11,400 CUP.
50 EUR = 28,500 CUP.
100 EUR = 57,000 CUP.
200 EUR = 114,000 CUP.
500 EUR = 285,000 CUP.
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