In recent hours, a currency has reported an upward shift in the informal foreign exchange market in Cuba. This is the euro, which has set a new sales record.
At 6:00 a.m. (Cuban local time) on Wednesday, the euro rises by five pesos and is now at 575 CUP, a value that the European currency has never reached before, further deepening the devaluation of the Cuban peso.
In the case of the dollar, it currently holds the 510 CUP reached last weekend.
The Freely Convertible Currency (MLC), for its part, maintains the sale at 413 CUP, a price that was reached this Tuesday.
Exchange Rate Evolution
Exchange rate today 04/03/2026 - 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: 575 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 currency market) remains well below the values that govern 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 scarcity of foreign currency in the state banking system and the high demand for dollars and euros from the population, whether for emigrating, importing goods, protecting savings, or making purchases in the private sector.
In a context of sustained inflation, low state wages, and increasing partial dollarization of the economy, every 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 4th:
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) bills to Cuban Peso (CUP):
1 EUR = 575 CUP.
5 EUR = 2.875 CUP.
10 EUR = 5,750 CUP.
20 EUR = 11,500 CUP.
50 EUR = 28,750 CUP.
100 EUR = 57,500 CUP.
200 EUR = 115,000 CUP.
500 EUR = 287,500 CUP.
Filed under: