The informal currency market in Cuba wakes up this Thursday in calm.
In the last few hours, there have been no changes in the average selling values of the three reference currencies in Cuba: the dollar consolidates its record value of 530 CUP, the euro remains at 600 CUP for the fifth consecutive day, and the Convertible Currency (MLC) holds at 400 CUP for the second day.
The day consolidates the record values reached during a week of historic movements, in which the Cuban peso has experienced consecutive depreciations.
The dollar has remained at 530 CUP for two consecutive days, a level it reached for the first time this Wednesday after a rise that started the month at 520 CUP on April 5.
Exchange Rate Evolution
The euro, for its part, remains at 600 CUP, threshold that was reached on Sunday, April 19, marking a historic milestone for the European currency in Cuba.
The Freely Convertible Currency (MLC) is currently at 400 CUP, after several days of fluctuating between 385 and 400 pesos.
Exchange rate today 04/23/2026 - 8:22 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 530 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 600 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 400 CUP.
The Observatory of Coins and Finance of Cuba projected at the end of April that the dollar would reach 533 CUP, with a variation range of between 503 and 590 CUP, suggesting that the upward trend has not yet concluded.
For the euro, the likely scenario points to 604 CUP, with a range between 574 and 640 CUP.
The currency crisis has its roots in the failed monetary reform of 2021, known as "Tarea Ordenamiento", which aimed to eliminate the dual currency but resulted in severe inflationary distortions.
Since 2020, the Cuban peso has lost approximately 95% of its value against the dollar in the informal market, decreasing from 42 CUP per dollar to the current 530 CUP.
In just the last twelve months, the dollar rose by 47.8%, from 345 CUP in March 2025 to 510 CUP in March 2026.
The accelerated depreciation in 2026 is due to the energy crisis caused by the halt of fuel shipments from Venezuela and Mexico, the decline in tourism, and the shortage of foreign currency in the official banking system, factors that have driven up the demand for foreign currency for everyday transactions among Cubans.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this April 23:
1 USD = 530 CUP.
5 USD = 2,650 CUP.
10 USD = 5,300 CUP.
20 USD = 10,600 CUP.
50 USD = 26,500 CUP.
100 USD = 53,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 600 CUP.
5 EUR = 3,000 CUP.
10 EUR = 6,000 CUP.
20 EUR = 12,000 CUP.
50 EUR = 30,000 CUP.
100 EUR = 60,000 CUP.
200 EUR = 120,000 CUP.
500 EUR = 300,000 CUP.
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