The euro reached 598 Cuban pesos (CUP) this Saturday in the informal market of the island, according to monitoring conducted by elTOQUE, dangerously nearing the psychological barrier of 600 pesos and marking a new historical high for the European currency in Cuba.
The figure represents an increase of eight pesos compared to Friday, April 17, when the euro closed at 590 CUP in the morning and rose to 595 CUP in the afternoon, and more than ten pesos compared to the 588 CUP recorded on April 6, which until then was the historical peak for the currency.
Informal exchange rate in Cuba Saturday, April 18, 2026 - 06:12
Exchange rate of the dollar (USD) to Cuban pesos CUP: 525 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 598 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 397.5 CUP
The dollar remained this Saturday at 525 CUP, its own historical high sustained since Sunday, April 12. Meanwhile, the Convertible Currency (MLC) traded at 397.5 CUP.
The behavior of the euro over the past week shows an acceleration in the last two days following a period of relative calm.
Exchange Rate Evolution
From April 11 to 16, the European currency remained stable around 590 CUP, with a brief spike to 592 CUP last Sunday. However, the climb began the day before, culminating this Saturday with a new record.
The upward trend of the euro in Cuba has been sustained for months: in February it hovered around 565 CUP, in March it rose to 580 CUP, and so far in April it has climbed to the current 598 CUP.
In historical perspective, the trajectory is even more revealing: the European currency was valued at 418 CUP in June 2025, reached 485 CUP in September, 515 CUP in October, and 565 CUP in February 2026.
Various factors explain the accelerated depreciation of the Cuban peso. The introduction of new 2,000 and 5,000 CUP notes into circulation on April 1st generated inflationary pressure and currency uncertainty. Additionally, there is the cut in Venezuelan oil supplies following the fall of the regime of Nicolás Maduro in January 2026, the chronic shortage of goods, and the increasing dollarization of the economy.
Internationally, the euro has also strengthened against the dollar, trading around 1.17-1.18 dollars during April 2026, which contributes to its higher relative value in Cuba.
The gap between the informal market persists. The Central Bank of Cuba (BCC) sets the rate for the euro at 576.52 CUP in its Segment III, roughly 21 pesos below the actual price at which the population operates. For the dollar, the difference is even greater: 488 CUP at the official exchange, leaving a gap of 37 pesos.
The Observatory of Currencies and Finances of Cuba (OMFi) projected that by the end of April the euro would reach 604 CUP, with a range between 574 and 640 CUP, a projection that could be met sooner than expected given the rate of increase observed in the last two days.
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