The U.S. dollar rose again this Sunday in the Cuban informal market, trading at 548 Cuban pesos (CUP), according to data reported by elTOQUE, two pesos more than the historical record of 546 CUP set on Saturday.
The new brand brings the greenback closer to the psychological barrier of 550 CUP and expands the gap with the official rate of the Central Bank of Cuba (BCC), set at 502 CUP per dollar, to 46 pesos.
Informal exchange rate in Cuba Sunday, May 17, 2026 - 06:30
Exchange rate of the dollar (USD) to Cuban pesos CUP: 548 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 625 CUP
Exchange rate of (MLC) to Cuban pesos CUP: 400 CUP
The euro remains at 625 CUP, while the freely convertible currency (MLC) stays at 400 CUP, well below the 440 CUP it reached on May 12.
The events of Sunday are part of a consistent upward trend throughout May: the dollar started the month at 535 CUP on May 1st and has already increased by 13 CUP in just 17 days.
Exchange Rate Evolution
The euro, for its part, has increased by 20 CUP from the 605 CUP it started at in May, also marking a week of historic records in the informal market.
The upward spiral of the dollar accelerated in February 2026, when the greenback surpassed the 500 CUP barrier for the first time on the 10th of that month.
Since then, it has continued to hit new highs: 515 CUP on March 22, 526 CUP on April 21, 545 CUP on May 12, and 546 CUP on Saturday, when the dollar halted its rise with a new record before rising again today.
The Observatory of Currencies and Finances of Cuba (OMFi) warned that "the average year-on-year depreciation of the Cuban peso between January and April 2026 was 45%, more than double that of the entire year of 2025," when it was 22%.
The agency projected a central scenario for May of 562 CUP per dollar, with an uncertainty range of 523 to 590 CUP, suggesting that upward pressure may continue in the coming weeks.
Since 2020, the Cuban peso has lost approximately 95% of its value against the dollar in the informal market, dropping from 42 CUP to the current 548 CUP, reflecting a structural crisis fueled by chronic foreign currency shortages, declining national production, and the regime's blockade of substantial economic reforms.
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