The Freely Convertible Currency (MLC) fell by ten pesos this Thursday in the Cuban informal market, now standing at 390 Cuban pesos (CUP), according to monitoring by elTOQUE.
The setback occurs a day after the same currency experienced a sudden jump of 15 pesos upwards, following a strong rebound on Wednesday to 400 CUP, which confirms the volatility that has characterized the MLC so far this year.
The fluctuation reflects the instability that has characterized this currency throughout the week: on Monday it had dropped to 385 CUP -its lowest level in recent days- only to rebound sharply on Wednesday to 400 CUP and then retreat again on Thursday to 390 CUP, a back-and-forth movement of 25 pesos in just 72 hours.
The dollar and the euro remain unchanged compared to the previous day: the dollar at 525 CUP and the .
Exchange Rate Evolution
The U.S. dollar reached a historic high of 525 CUP last Sunday, and since April 2, when it was valued at 515 CUP, it has accumulated an increase of between five and ten pesos in just two weeks, reinforcing a sustained upward trend against the Cuban peso.
The gap between the official rate of the Central Bank of Cuba —which maintains the dollar in Segment III between 480 and 485 CUP— and the informal market, where it hovers around 520 CUP, highlights the deep disconnect between the regime's monetary policy and the everyday economic reality of Cubans.
Exchange rate today 04/16/2026 - 8:26 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 525 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 590 CUP.
Exchange rate from MLC to CUP according to TOQUE: 390 CUP.
That difference, of between 5% and 8%, has been consistently maintained over the past few weeks.
The Cuba Currency and Finance Observatory (OMFi) warns that the apparent stability of recent days does not stem from a structural improvement, but rather from a slowdown in economic activity in an environment marked by the energy crisis and a decline in tourist arrivals, which fell by 56% year-on-year.
According to the OMFi, "this lower pressure in the market reflects an economy with reduced capacity for movement and currency generation."
The Cuban tourism recorded only 917 million dollars in revenue and 1.9 million visitors in 2025, a 14% decrease from 2024, according to the National Office of Statistics and Information (ONEI), and in February 2026, arrivals dropped by 56% year-on-year.
As we approach the end of April, the most likely scenario projected by the OMFi indicates a further moderate depreciation of the Cuban peso: the dollar could reach 533 CUP, the euro 604 CUP, and the MLC could be around 393 CUP.
Analysts, however, warn of high uncertainty in these projections, with wide ranges of variation: the euro could fluctuate between 574 and 640 CUP, and the dollar between 503 and 590 CUP by the end of the month.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates from April 16:
1 USD = 525 CUP.
5 USD = 2,625 CUP.
10 USD = 5,250 CUP.
20 USD = 10,500 CUP.
50 USD = 26,250 CUP.
100 USD = 52,500 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 590 CUP.
5 EUR = 2,950 CUP.
10 EUR = 5,900 CUP.
20 EUR = 11,800 CUP.
50 EUR = 29,500 CUP.
100 EUR = 59,000 CUP.
200 EUR = 118,000 CUP.
500 EUR = 295,000 CUP.
Filed under: