The U.S. dollar set a new historical record this Sunday in the Cuban informal market, trading at 543 Cuban pesos (CUP), three pesos more than the previous day, according to data from elTOQUE.
In recent hours, the Freely Convertible Currency (MLC) has also seen a significant increase: it rises 17 pesos to 430 CUP, following the jump of 30 pesos it experienced last Wednesday.
The euro, for its part, remains at 620 CUP.
Exchange rate today 10/05/2026 - 8:18 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 543 CUP.
Exchange Rate Evolution
Exchange rate of the euro EUR to CUP according to EL TOQUE: 620 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 430 CUP.
The new peak of the US dollar surpasses the previous record of 540 CUP that the dollar had maintained since May 5, when the currency reached a new high.
The increase has been rapid and almost uninterrupted since mid-April: 522 CUP on April 11, 525 CUP the following day, 530 CUP on April 22, 535 CUP on April 30, 536 CUP on May 4, and 540 CUP on May 5.
Each new upward push of the dollar and the euro has broken the ceiling of the previous week.
The Cuba Currency and Finance Observatory (OMFi) confirmed this week that the average year-on-year depreciation of the peso between January and April 2026 was 45%, more than double the 22% recorded for all of 2025.
"The Cuban peso has lost more value against the dollar in the first four months of 2026 than it did throughout all of 2025," the agency warned in its report.
Since 2020, the peso has lost approximately 95% of its value against the dollar in the informal market, falling from 42 CUP per dollar to the current 543 CUP.
The devaluation and stagnant wages create a perfect storm for ordinary Cubans.
The OMFi projects for the rest of May a central scenario of 562 CUP per dollar, with an extreme range of up to 590 CUP, and warns that "there is a high level of uncertainty regarding the evolution of the foreign exchange market in the coming weeks."
Factors that aggravate the economic crisis
The deterioration of the peso occurs amidst a complex economic scenario marked by:
-increase in inflation;
-strong decline in tourism;
-persistent energy crisis;
-cooling of relations with the United States.
Although the arrival of a Russian tanker temporarily alleviated the blackouts at the end of March, the OMFi believes that there is no structural solution to the energy crisis.
The report also notes that the shortage of foreign currency continues to put pressure on the informal market.
Collapse of tourism and decreased foreign currency inflow
The National Office of Statistics and Information (ONEI) reported that in March, only 35,561 international visitors arrived in Cuba, compared to 197,505 registered in the same month of 2025, representing a year-on-year decline of 82%.
The OMFi warns that this contraction reduces the inflow of foreign currency to both the state and private sectors, limits import capacity, and worsens the liquidity shortage in the economy.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on May 10th:
1 USD = 543 CUP.
5 USD = 2,715 CUP.
10 USD = 5,430 CUP.
20 USD = 10,860 CUP.
50 USD = 27,150 CUP.
100 USD = 54,300 CUP.
Equivalence of Euro (EUR) notes to Cuban Peso (CUP):
1 EUR = 620 CUP.
5 EUR = 3,100 CUP.
10 EUR = 6,200 CUP.
20 EUR = 12,400 CUP.
50 EUR = 31,000 CUP.
100 EUR = 62,000 CUP.
200 EUR = 124,000 CUP.
500 EUR = 310,000 CUP.
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