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The informal currency market in Cuba wakes up this Monday with a new development: another drop in the value of the freely convertible currency (MLC).
In the last few hours, the Freely Convertible Currency fell from 400 to 393 CUP, seven pesos less than the previous day, marking another episode of instability for the digital monetary concoction the Cuban regime has operated with since 2019.
The cachumbambé of the MLC
The Freely Convertible Currency (MLC), created by the regime as a mechanism to attract foreign currency, has ultimately become one of the most volatile indicators in the already fragmented foreign exchange market of the island.
Although it was originally introduced as a temporary solution to supply stores with hard currency, in practice it has become trapped between structural foreign currency shortages, state restrictions, and the growing reliance on the informal market.
Its value, which lacks a clear backing or a transparent official rate against the Cuban peso, is determined on the street, where supply and demand quickly respond to any economic or political signals.
The constant fluctuations of the MLC reflect the fragility of the Cuban monetary system and the population's mistrust 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, resulting in sharp fluctuations in its exchange rate.
Rumors about changes in sales policies, shortages, or new restrictions are often enough to trigger price spikes or sudden crashes, highlighting a highly sensitive market that lacks stability.
What is happening with the dollar and the euro?
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 tracks the fluctuations of currencies.
Both currencies maintain a stable value that, in each case, has already lasted over a week.
Exchange rate today 03/30/2026 - 8:36 a.m. in Cuba:
Exchange rate of the dollar 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: 393 CUP.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates as of March 30th:
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) notes 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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