The informal currency market in Cuba has been experiencing a recent series of consecutive records for the dollar and the euro against the Cuban peso, solidifying what analysts and monitoring platforms describe as a week of historic depreciation of the CUP.
According to data from elTOQUE, published this Wednesday at 06:49, the dollar is trading at 545 Cuban pesos (CUP), the euro at 625 CUP, and the MLC at 432.5 CUP.
Informal exchange rate in Cuba Wednesday, May 13, 2026 - 06:00
Exchange rate of the dollar (USD) to Cuban pesos CUP: 545 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 625 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 432.5 CUP
The dollar opened May at 535 CUP and has experienced an increase of 10 CUP in just two weeks, while the euro has shown an even more pronounced behavior: from 605 CUP on the first of May to the current 625 CUP, adding 20 CUP in the same period.
The euro broke the psychological barrier of 600 CUP for the first time on April 19, and since then it has continued to reach historical highs.
Exchange Rate Evolution
On an annual basis, the euro rose from approximately 350 CUP twelve months ago to the current 625 CUP, representing a depreciation of the Cuban peso of nearly 78% against that currency.
The MLC showed greater volatility during the week: it experienced a drop of 20 CUP last Wednesday, falling to 400 CUP, before recovering and closing around the current 432.5 CUP.
The sustained rise in foreign currencies reflects a structural economic crisis that has intensified so far in 2026.
Cuba is experiencing blackouts lasting over 24-25 hours daily in more than 55% of the territory, a fiscal deficit of 74.5 billion Cuban pesos, and a cumulative inflation rate of 7.18% for the year so far, exceeding the 6.56% recorded in the same period of 2025.
Venezuelan oil supply was interrupted in January, and a Russian shipment of 730,000 barrels that arrived in March has run out this month, deepening the energy crisis.
The economist Pedro Monreal has warned of a possible decline in the Cuban GDP of between 7.2% and 15%, describing the regime's official economic program as "entirely irrelevant."
The government itself has acknowledged the unsustainability of the model: the Ministry of Finance and Prices announced floating prices for fuel in foreign currency starting May 15, abandoning the fixed price scheme it had maintained until now.
elTOQUE calculates rates in real time based on approximately 100 daily offers in Telegram and Facebook groups, and its data is the most commonly used reference by Cubans for everyday transactions, far from the official exchange rate of the Central Bank of Cuba (BCC), which is set by its "floating rate" at 498 CUP per dollar and 584.20 CUP per euro.
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