At 6:00 a.m., local Cuban time, the informal currency market in Cuba is experiencing a day of nominal stability that, however, conceals a striking reality: the U.S. dollar remains at its historic high of 510 Cuban pesos for the eighth consecutive day, while the euro and the MLC also hold their positions without any changes compared to the previous day. The snapshot from this Friday, March 6, 2026, depicts a parallel market that shows no signs of giving ground and continues to demonstrate vast disparities with the official rates set by the Cuban regime.
The United States dollar is priced at 510 Cuban pesos (CUP), exactly the same value it registered yesterday and has maintained for eight consecutive days. According to data from the previous session, the North American currency has not dropped even a peso since reaching this level, which constitutes its historical high in the Cuban informal market. In the last week, the variation is nil (+0.0%), but the monthly outlook reveals the magnitude of the deterioration: 30 days ago the dollar was exchanged at 490 CUP, representing a cumulative increase of 4.1% in just one month. During that period, the currency fluctuated between a minimum of 472 and the current maximum of 510 CUP. The demand for dollars remains high among those looking to protect their savings against the depreciation of the peso.
The euro is trading at 575 Cuban pesos (CUP), unchanged from the previous day, thus marking its second consecutive day at the same price. The European currency has risen by 0.9% in the last week — when it was exchanged at 570 CUP — and has accumulated an increase of 6.5% in the last month, starting from 540 CUP. In the past four weeks, the euro fluctuated between a low of 507 and a high of 578.50 CUP. It stands out as the most expensive currency in the Cuban parallel market, surpassing the dollar by 65 pesos and solidifying its dominant position.
The MLC is quoted at 415 Cuban pesos (CUP), unchanged from yesterday, marking its fourth consecutive day at the same value. Over the last week, it has risen by 2.5%, up from 405 CUP a week ago, and in the past month, it has accumulated an increase of 3.8%, starting from 400 CUP. Its highest rate in the last 30 days was 427.77 CUP. Although its circulation is primarily digital, it remains essential for accessing basic products in the state sector.
Exchange Rate Evolution
Summary of exchange rates
- Exchange rate of the dollar USD to CUP: 510 CUP
- Exchange rate of the euro EUR to CUP: 575 CUP
- Exchange rate from MLC to CUP: 415 CUP
The impact of these quotes is felt directly in domestic prices. In January 2026, the year-on-year inflation in Cuba reached 12.52%, with especially pronounced increases in alcoholic beverages and tobacco (36.16%) and in food (12.5%). The price controls imposed by the Cuban regime —which included over 17,000 fines totaling 65 million pesos just in February— have not succeeded in halting the trend and, according to recent data, have reduced the supply of basic products by discouraging sellers. With the informal dollar at 510 CUP, the purchasing power of Cubans is diminished: a purchase of 50,000 pesos barely covers the essentials for a family, in a context where state salaries remain tethered to a reality that the informal market left behind long ago.
The official exchange rate—24 CUP for legal entities and 120 CUP in the state exchange market—remains far below the values that prevail in everyday practice in the informal currency market. This is compounded by what is referred to as the "floating" exchange rate of Segment III, which, although presented as a more flexible mechanism, is still very far from the informal rate—currently at 240 CUP per dollar—and fails to meet the actual demand for foreign currency from the population.
The gap between the official exchange rate and the informal one reflects the persistent shortage of foreign currency in the state banking system and the high demand for dollars and euros from the population, whether for emigration, importing goods, protecting savings, or making purchases in the private sector. In a scenario of sustained inflation, low state wages, and increasing partial dollarization of the economy, every change in the informal market directly impacts internal prices and the purchasing power of Cubans.
This Friday marks the eighth consecutive day the dollar has remained at 510 CUP, its highest historical level in the Cuban informal market. The North American currency reached this threshold at the end of February 2026 and has not retreated since, consolidating a level that just a month ago seemed distant—when the exchange rate was around 490 CUP. The persistence of this historical peak for over a week without interruption underscores the depth of the currency crisis affecting the island and the Cuban regime's inability to stabilize the value of the peso through its official mechanisms.
The information in this article comes from elTOQUE, an independent media outlet that daily monitors the exchange rates of the informal Cuban market.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP)
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 = 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.
Equivalence of MLC notes to Cuban Peso (CUP)
1 MLC = 415 CUP.
5 MLC = 2.075 CUP.
10 MLC = 4.150 CUP.
20 MLC = 8.300 CUP.
50 MLC = 20.750 CUP.
100 MLC = 41.500 CUP.
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