The dollar and the euro continue their unstoppable rise in the informal exchange market in Cuba, while the peso falls further every day.
The US dollar rises four pesos in a single day, climbing to 540 Cuban pesos (CUP), marking its largest daily increase in several weeks.
The euro is not lagging behind: it advances three pesos to reach 618 CUP, dangerously approaching the 620 peso barrier.
The Freely Convertible Currency (MLC), on the other hand, remains stable at 420 CUP, according to data from elTOQUE.
Exchange Rate Evolution
Exchange rate today 05/05/2026 - 8:15 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 540 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 618 CUP.
Exchange rate of MLC to CUP according to el TOQUE: 420 CUP.
The events of this Tuesday reinforce a rising trend that shows no signs of slowing down, having set consecutive records in the Cuban informal market for weeks.
Yesterday, Monday, the dollar had reached 536 CUP and the euro 615 CUP, both historic highs at that moment.
The MLC also saw a jump of twenty pesos in a single day, rising from 400 to 420 CUP.
On April 19, the euro broke the psychological barrier of 600 CUP for the first time, and since then it has continued to rise: 605 CUP on April 28, 610 CUP on May 2, 615 CUP on Monday, and now 618 CUP.
The dollar, for its part, closed April at 535 CUP, exceeding the projections from the Currency and Finance Observatory of Cuba (OMFi), which estimated a ceiling of 533 CUP for that month.
Behind this currency spiral are profound structural factors at play.
Since January 2026, Venezuela has completely suspended its oil supply to Cuba, which accounted for between 30% and 35% of the island's energy demand.
This is compounded by the collapse of tourism: in the first quarter of 2026, arrivals fell by 48% year-on-year, with only 298,057 visitors, and March recorded just 35,561 international tourists.
The International Monetary Fund (IMF) projects a contraction of the Cuban GDP of 7.2% for 2026, while excessive money issuance to finance the fiscal deficit exacerbates the shortage of foreign currency in the banking system.
The agency projected a range of 503 to 590 CUP for the dollar, and between 574 and 640 CUP for the euro.
With the dollar now at 540 CUP and the euro at 618 CUP, both currencies are advancing towards the most pessimistic ceilings of that range, with no structural factors indicating a reversal of the trend.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of May 5:
1 USD = 540 CUP.
5 USD = 2,700 CUP.
10 USD = 5,400 CUP.
20 USD = 10,800 CUP.
50 USD = 27,000 CUP.
100 USD = 54,000 CUP.
Equivalence of Euro banknotes (EUR) to Cuban Peso (CUP):
1 EUR = 618 CUP.
5 EUR = 3,090 CUP.
10 EUR = 6,180 CUP.
20 EUR = 12,360 CUP.
50 EUR = 30,900 CUP.
100 EUR = 61,800 CUP.
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