The euro continues its rise in the informal currency market in Cuba and reaches 580 Cuban pesos (CUP) this Sunday, solidifying its position as the most expensive currency in the island's parallel market.
The US dollar remains at 510 CUP, while the freely convertible currency (MLC) is traded at 400 CUP, according to daily monitoring data from the independent media elTOQUE.
Informal exchange rate in Cuba Sunday, March 8, 2026 - 07:10
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 510 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 580 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 400 CUP
The evolution of the euro over the last year clearly shows the significant depreciation that the Cuban peso has experienced.
Exchange Rate Evolution
About twelve months ago, the European currency was trading at around 350 CUP, but since then it has followed a predominantly upward trajectory that reflects the progressive deterioration of the value of the national currency.
During the spring and summer of 2025, the euro began to rise steadily, first surpassing the barrier of 400 pesos and subsequently approaching 450 CUP.
In the following months, the trend continued to rise, driven by the high demand for foreign currency and the limited availability of hard currency in the state banking system.
At the end of 2025, one of the most volatile episodes of the analyzed period occurred. The euro approached 540 CUP, but shortly after, a sudden drop occurred that temporarily brought it down to around 450 CUP.
However, that correction turned out to be temporary: in the following weeks, the European currency regained ground.
Since the beginning of 2026, the euro has resumed its upward trend and has once again surpassed the levels it reached at the end of last year. In recent weeks, the exchange rate has continued to rise, now standing at 580 CUP, the highest level recorded to date.
If we compare the current value with the one recorded twelve months ago, the result is striking: the euro has increased by more than 200 pesos, which implies a depreciation of nearly 65% of the Cuban peso against the European currency during that period.
This behavior reflects the constant pressure on the national currency in a context marked by inflation, low state salaries, and the increasing partial dollarization of the economy.
For many Cubans, obtaining foreign currency has become a way to protect the value of their income or to finance migration projects and private sector activities.
Meanwhile, the informal market continues to serve as the real reference for the exchange rate in Cuba, well above the official rates set by the state financial system.
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