The Freely Convertible Currency (MLC) has recorded a drop of 20 pesos in the Cuban informal market this Wednesday, now standing at 400 CUP, according to data from elTOQUE.
The decline contrasts with the behavior of the dollar and the euro, which today solidify the record values reached on Tuesday.
The dollar and euro remain unstoppable in Cuba: the U.S. currency stands at 540 CUP and the euro at 618 CUP, the historic highs reached yesterday after increases of four and three pesos, respectively, in just one day.
Exchange rate today 06/05/2026 - 8:11 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 540 CUP.
Exchange Rate Evolution
Exchange rate of the euro EUR to CUP according to elTOQUE: 618 CUP.
Exchange rate from MLC to CUP according to TOQUE: 400 CUP.
In the case of the MLC, it had experienced a jump of 20 pesos in a single day on Monday, rising from 400 to 420 CUP.
The correction this Wednesday brings it back to exactly the level it was trading at on Sunday, reflecting the high volatility characteristic of this digital currency compared to the more stable behavior of the dollar and the euro.
The MLC, created in 2019 by the Cuban government as a digital instrument to attract foreign currency, has shown erratic behavior in recent weeks: it reached a low of 385 CUP on April 14, recovered to 420 CUP on May 4, and is now falling back to 400 CUP.
This divergence has a structural explanation: while the dollar and the euro respond to the widespread shortage of foreign currency in the Cuban economy, the MLC also depends on confidence in the state banking system and administrative controls of the regime, factors that introduce their own fluctuations.
On the other hand, the new surge of the dollar and the euro is part of a rising trend that has been breaking records for weeks.
The euro broke the barrier of 600 CUP for the first time on April 19, while the dollar closed April at 535 CUP, already exceeding the maximum projections of the Observatory of Currencies and Finances of Cuba (OMFi), which estimated a ceiling of 533 CUP for the dollar and 604 for the European currency that month.
Behind this currency spiral are structural factors that the regime has not been able to reverse.
Since January 2026, Venezuela completely suspended the supply of crude oil that covered between 30% and 35% of the island's energy demand.
Tourism plummeted by 48% year-on-year in the first quarter, with only 35,561 visitors in March.
The IMF projects a contraction of the Cuban GDP by 7.2% for this year, and excessive monetary issuance to finance the fiscal deficit worsens the foreign currency shortage.
The dollar and the euro continue their unstoppable rise in the informal currency market in Cuba, while the peso declines further each day.
Equivalence of United States Dollar (USD) Bills to Cuban Peso (CUP), according to the exchange rates on this May 6th:
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 (EUR) bills 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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