The informal currency market in Cuba begins this Tuesday with a new development: the value of the freely convertible currency (MLC) has dropped sharply.
In recent hours, the MLC has fallen from 410 to 400 CUP, adding a new episode of instability for the digital monetary system that the Cuban regime has operated since 2019.
The dollar and the euro remain unchanged today.
The US dollar remains valued at 515 CUP, and the euro at 580 CUP, according to the daily report from elTOQUE, which records the fluctuations of currencies.
Exchange Rate Evolution
MLC: Constant fluctuations in a market without clear rules
The Freely Convertible Currency (MLC), created by the regime as a mechanism to capture foreign exchange, has ultimately become one of the most volatile indicators in the already fragmented currency market of the island.
Although it was originally presented as a temporary solution to supply stores with hard currency, in practice it has become ensnared by the structural shortage of foreign exchange, state restrictions, and the growing dependence on the informal market.
Its value, which lacks a clear backing or a transparent official rate against the Cuban peso, is de facto determined on the street, where supply and demand react swiftly to any economic or political signals.
The constant fluctuations of the MLC reflect the fragility of the Cuban monetary system and the population's lack of confidence in this instrument.
Unlike the dollar or the euro, which are seen as safer havens, the MLC is directly influenced by internal government decisions and the availability of products in state-owned stores, leading to significant fluctuations in its exchange rate.
Rumors about changes in sales policy, shortages, or new restrictions are often enough to trigger surges or cause sudden drops, highlighting a market that is highly sensitive and lacking stability.
Exchange rate today, 03/24/2026 - 7:32 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 515 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 580 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 400 CUP.
The rates published by elTOQUE have become one of the main indicators for measuring the real value of the Cuban peso against foreign currencies, in a context where the official exchange rate remains disconnected from market reality.
Foreign currencies are primarily used for emigration, importing goods, protecting savings against inflation, or making purchases in the growing private sector, which keeps pressure high on the informal market.
In a context of sustained inflation, low state wages, and increasing partial dollarization of the economy, the behavior of the informal foreign exchange market continues to have a direct impact on internal prices and the purchasing power of Cubans.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this March 24:
1 USD = 515 CUP.
2 USD = 1,030 CUP.
5 USD = 2,575 CUP.
10 USD = 5,150 CUP.
20 USD = 10,300 CUP.
50 USD = 25,750 CUP.
100 USD = 51,500 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 580 CUP.
5 EUR = 2,900 CUP.
10 EUR = 5,800 CUP.
20 EUR = 11,600 CUP.
50 EUR = 29,000 CUP.
100 EUR = 58,000 CUP.
200 EUR = 116,000 CUP.
500 EUR = 290,000 CUP.
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