The informal currency market in Cuba opens this Tuesday without any changes.
The dollar remains at 530 Cuban pesos and the euro at 600, while the MLC stabilizes at the 420 pesos it reached on Monday.
The dollar has remained at that historic record for several consecutive days, a level it reached on April 22 after rising four pesos in a single day.
The euro, for its part, broke the barrier of 600 pesos on April 19, and has not yielded since then.
Exchange Rate Evolution
The MLC has been the most volatile currency of the past week.
On Sunday, April 26, it rose by 12 pesos to reach 412 pesos, and this Monday it climbed another eight pesos to 420, accumulating an increase of twenty pesos in just two days.
Exchange rate today 04/28/2026 - 9:30 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 of MLC to CUP according to elTOQUE: 420 CUP.
The gap with the official rates is vast.
The Central Bank of Cuba sets the dollar at 494 CUP and the euro at 578.67 CUP, while in the informal market, they exceed those figures by more than 35 and 20 pesos, respectively.
The Observatory of Currencies and Finances of Cuba (OMfi) projects that the dollar could close April around 533 CUP, with a range extending up to 590 CUP; and the euro at 604 CUP, suggesting that the upward trend has not yet concluded.
The depreciation of the Cuban peso has structural roots that have worsened in 2026.
The energy crisis triggered by the disruption of Venezuelan oil shipments and the suspension of Mexican supplies in January of this year has severely impacted the limited availability of foreign currency on the island.
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 rate of 530 CUP.
In just the last twelve months, the US dollar has risen by 47.8%; from 345 CUP in March 2025 to 530 CUP this Monday.
The economist Pavel Vidal notes that "the new Cuban economic program acknowledges the link between inflation, deficit, and monetary emission, but the adjustment focuses on cuts without structural reforms for growth", which suggests that the spiral of depreciation is unlikely to reverse in the short term.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates as of April 28:
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) notes 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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