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The euro reached 610 Cuban pesos (CUP) this Saturday in the informal currency market, marking a new historic maximum recorded this morning according to data published by elTOQUE for the euro exchange rate, solidifying a climb 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, in a week characterized by new highs in the sale of the dollar and euro in the Cuban informal market.
The dollar remains stable at 535 CUP, the historical record set last Wednesday after two consecutive days of increases, surpassing the maximum forecast from the Observatory of Currencies and Finances of Cuba (OMFi), which estimated a ceiling of 533 CUP for the end of April.
The MLC is currently quoted at 412.5 CUP, showing a slight upward trend compared to the 410 CUP from Thursday, although it continues a downward trajectory in comparison to previous weeks.
The rise of the euro over the past two weeks has been particularly striking. On April 19, it broke through 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 five pesos more to reach 605 CUP, also above the OMFi's forecast of 604 CUP for the end of April.
The dollar, for its part, shot up to set a new price record last Thursday after accumulating an increase of 20 pesos throughout April, which is equivalent to a rise of 3.9%, starting from 515 CUP at the end of March.
The gap between the rates of the Central Bank of Cuba and the informal market is becoming increasingly pronounced: while the informal market currently stands 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 exacerbated 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 shortage of foreign currency in the banking system, and excessive money issuance linked to the fiscal deficit.
Historically speaking, the Cuban peso has lost approximately 95% of its value against the dollar since 2020, when it was exchanged at 42 CUP. In just the last 12 months, the dollar has risen by 47.8% in the informal currency exchange market in Cuba, increasing from 345 CUP to the current 535 CUP.
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