At 1:00 p.m., local Cuban time, the informal currency market in Cuba is experiencing fluctuations in two of the three benchmark currencies this Saturday, March 7, 2026. The euro is rising and the MLC is falling, while the US dollar remains steady at its historic high for the ninth consecutive day.
The U.S. dollar is trading at 510 Cuban pesos (CUP), with no change compared to the previous day. This marks the ninth consecutive day at the same price, a trend that solidifies it at its highest recorded level in the Cuban informal market. Over the last 30 days, the dollar has increased by 8.1%, rising from 472 to 510 CUP, and in the past year, it has accumulated a depreciation of the peso by 47.8% against this currency — twelve months ago it was valued at 345 CUP. It continues to dictate the pace of the informal market in a context of structural shortage of foreign currency.
The euro rises this Saturday to 579.50 Cuban pesos (CUP), representing an increase of 4.50 pesos compared to the previous day, when it closed at 575 CUP. In the last week, the European currency has gained 1.7%, and over the past month, it has risen by 14.3%, moving from 507 to 579.50 CUP. In the last 30 days, the euro fluctuated between a minimum of 507 and a maximum of 580 CUP, nearing that ceiling today. A year ago, it was trading at 345 CUP, which represents a depreciation of the peso by 68.0% against the euro in twelve months. It surpasses the dollar by 69.50 pesos, solidifying its dominant position in the Cuban parallel market.
The MLC falls back this Saturday to 405 Cuban pesos (CUP), a drop of 10 pesos compared to the previous session, when it was quoted at 415 CUP. In the last week, it has decreased by 1.2%, and over the past six months, it has more than doubled in value, rising by 107.7% from 195 CUP six months ago. In the last 30 days, the MLC fluctuated between a low of 400 and a high of 427.77 CUP. Although its circulation is primarily digital, it remains essential for accessing basic products in the state sector.
Exchange Rate Evolution
- Exchange rate of the dollar USD to CUP: 510 CUP.
- Exchange rate of the euro EUR to CUP: 579.50 CUP.
- Exchange rate from MLC to CUP: 405 CUP.
The impact of these prices is felt directly in domestic prices. The year-on-year inflation in Cuba reached 12.5% in January 2026, and the price controls imposed by the Cuban regime —which included over 17,000 fines totaling 65 million CUP just in February— have reduced the available supply and further strained the prices of basic products without managing to halt the inflationary trend. With the dollar at 510 CUP and the euro at 579.50 CUP in the informal market, far above the rates managed by the Central Bank, the real purchasing power of Cubans relying on state salaries continues to be steadily eroded.
The official exchange rate —24 CUP per dollar for legal entities and 120 CUP in the state currency exchange market— remains well below the values that are applied in everyday practice in the informal currency market.
This is joined by the so-called "floating" exchange rate of Segment III, which has experienced a gradual increase over the past month. In the case of the dollar, the exchange rate for Segment III started at the beginning of February at around 455 CUP and has risen through several adjustments to reach the current 471 CUP, which represents an increase of about 16 pesos in a month.
This Saturday, the dollar marks nine consecutive days at 510 CUP, its historical high in the Cuban informal market. A year ago, the same currency was valued at 345 CUP, which means that the Cuban peso has lost nearly half of its value against the dollar in just twelve months. The streak of stability in the dollar's price does not reflect an improvement in the economy, but rather the establishment of a ceiling that the market cannot break downward due to the lack of structural measures from the Cuban regime.
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) 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) bills to Cuban Peso (CUP)
1 EUR = 579.50 CUP.
5 EUR = 2,897.50 CUP.
10 EUR = 5,795 CUP.
20 EUR = 11,590 CUP.
50 EUR = 28,975 CUP.
100 EUR = 57,950 CUP.
200 EUR = 115,900 CUP.
Equivalence of MLC bills to Cuban Peso (CUP)
1 MLC = 405 CUP.
5 MLC = 2.025 CUP.
10 MLC = 4.050 CUP.
20 MLC = 8.100 CUP.
50 MLC = 20.250 CUP.
100 MLC = 40.500 CUP.
Filed under: