The euro reached 610 Cuban pesos (CUP) this Saturday in the informal currency market, a new historic high recorded this morning according to data published by elTOQUE for the euro exchange rate, consolidating a surge that shows no signs of stopping.
The increase of five pesos compared to the 605 CUP on Friday marks the second consecutive historical record for the European currency in just 48 hours, during a week characterized by new highs in the sale of the dollar and the euro in the Cuban informal market.
The dollar remains stable at 535 CUP, the historical record reached last Wednesday after two consecutive days of increase, surpassing the maximum projection of the Currency and Finance Observatory of Cuba (OMFi), which estimated a ceiling of 533 CUP for the end of April.
The MLC is currently priced at 412.5 CUP, showing a slight upward trend compared to the 410 CUP from Thursday, although it continues on a downward trajectory compared to previous weeks.
Exchange Rate Evolution
The rise of the euro over the past two weeks has been particularly striking. On April 19, it broke the psychological barrier of 600 CUP for the first time in history, consolidated at that level for ten days, and last Tuesday it increased by another five pesos to reach 605 CUP, also above the OMFi's prediction of 604 CUP for the end of April.
The dollar, for its part, soared to set a new price record last Thursday after accumulating an increase of 20 pesos throughout April, equivalent to a rise of 3.9%, starting from 515 CUP at the end of March.
The gap with the official rates of the Central Bank of Cuba is becoming increasingly pronounced: while the informal market today sets the rate at 535 CUP per dollar and 610 CUP per euro, the official quotes as of April 28 were 496 CUP and 581.56 CUP, respectively.
Behind the sustained depreciation of the Cuban peso lie structural factors that the regime has been unable to reverse: the energy crisis worsened by the interruption of Venezuelan crude oil shipments and the suspension of Mexican oil supplies to Cuba since January 2026, the decline in tourism, the scarcity of foreign currency in the banking system, and excessive monetary issuance linked to the fiscal deficit.
From a historical perspective, the Cuban peso has lost approximately 95% of its value against the dollar since 2020, when it exchanged at 42 CUP. In just the last 12 months, the dollar has risen by 47.8% in Cuba's informal currency exchange market, climbing from 345 CUP to the current 535 CUP.
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