The U.S. dollar reached a new historical high on Tuesday in the Cuban informal market, trading at 595 Cuban pesos (CUP), five pesos more than the previous day.
In the case of the euro, it drops by 12 pesos to 635 CUP. The Convertible Currency (MLC) also decreases, falling by five pesos to 400 CUP.
Exchange rate today 02/06/2026 - 7:46 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 595 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 635 CUP.
Exchange Rate Evolution
Exchange rate from MLC to CUP according to TOQUE: 400 CUP.
The dollar is on the rise and unstoppable
The green bill thus chains an unprecedented bullish streak that places it just five pesos away from the psychological barrier of 600 CUP.
This Monday, the dollar closed at 590 CUP, marking its fourth consecutive historical record.
The increase has been steady and rapid throughout the last week: 572 CUP on May 29; 575 on the 30th, and 580 on the 31st.
The dollar opened June at 585 early on Monday, 590 in the afternoon of the same day, and now it's at 595 CUP this Tuesday.
May 2026 had already established itself as the worst month in the recent history of the Cuban peso: the dollar opened the month at 535 CUP and closed at 580 CUP, accumulating a rise of 45 pesos in 30 days, an increase of 8.4%.
With today's data, the greenback has risen by more than 60 pesos since the beginning of May.
The euro stabilizes in the informal market
The euro, for its part, had set its own historical record on Monday by reaching 647.5 CUP by mid-morning, before retreating to 645 CUP and now 635 CUP this Tuesday.
The European currency has experienced a rapid escalation throughout 2026: it surpassed 600 CUP for the first time on April 19, reached 620 CUP on May 8, 635 CUP on May 20, and 645 CUP on May 28.
In year-on-year terms, the euro has appreciated by 74% over the past 12 months.
Behind this currency spiral, there are profound structural factors.
An electrical deficit of nearly 2,000 MW is halting national production.
Tourism dropped by 55.8% between January and April 2026, with only 328,608 visitors according to the National Office of Statistics and Information (ONEI).
The trips of Cubans residing abroad decreased by 41.2% year-on-year, reducing the flow of remittances.
The year-on-year inflation is close to 14.73% and agricultural prices rose by 31.9% in the first quarter. The average salary is around 6,930 CUP, equivalent to less than 12 dollars at the current informal exchange rate.
CEPAL projects Cuba to have the worst economy in Latin America by 2026, with a GDP contraction of 6.5%, while The Economist Intelligence Unit estimates a decline of 7.2%, and economist Pedro Monreal warns of potential declines of up to 15%.
In historical perspective, the collapse is devastating: in 2020, the dollar was exchanged at 42 CUP in the informal market; today it exceeds 595 CUP, representing a loss of value of the peso of approximately 93% in six years.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates as of June 2:
1 USD = 595 CUP.
5 USD = 2,975 CUP.
10 USD = 5,950 CUP.
20 USD = 11,900 CUP.
50 USD = 29,750 CUP.
100 USD = 59,500 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 635 CUP.
5 EUR = 3.175 CUP.
10 EUR = 6,350 CUP.
20 EUR = 12,700 CUP.
50 EUR = 31,750 CUP.
100 EUR = 63,500 CUP.
200 EUR = 127,000 CUP.
500 EUR = 317,500 CUP.
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