The euro reached a new all-time record on the Cuban informal market this Thursday, soaring from 635 to 680 Cuban pesos (CUP) in less than 24 hours, a jump of 45 CUP that is unprecedented for the European currency on the island.
The movement occurs during a week of consecutive records.
The dollar remains today at 600 CUP for the third consecutive day, a record figure reached on Tuesday after a rise of 65 CUP in just 12 days.
The MLC also rises today, from 400 to 410 CUP.
Exchange Rate Evolution
Exchange rate today 04/06/2026 - 8:17 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 600 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 680 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 410 CUP.
The euro does not wait
The euro experienced a slight setback: it reached 647.5 CUP on Monday, dropped to 635 CUP on Wednesday, and this Thursday made the sharpest jump in its history in the Cuban informal market, suddenly surpassing all previous highs.
The European currency has experienced one of the sharpest movements in recent weeks in the Cuban informal market, with an increase of 45 pesos, which equates to a rise of around 7.1%.
The euro is solidifying its position as the highest valued currency in the island's unofficial exchange market, further widening its gap with the US dollar.
This rise reflects the ongoing pressure of demand for foreign currency in the context of a supply shortage, economic uncertainty, and a loss of purchasing power of the Cuban peso.
The trend also aligns with the international strengthening of the euro against the dollar, a factor that typically translates quickly into informal exchange rates in Cuba, where external references and the expectations of market participants play a decisive role in price formation.
The evolution of currencies in the informal market illustrates a spiral that shows no signs of stopping.
Regarding the dollar, the Cuban peso has lost 12.1% of its value against the dollar in just over a month, rising from 535 CUP at the end of April to the current 600 CUP, a pace that -according to the independent media elTOQUE- “even exceeds the most pessimistic projections of the Observatory of Currencies and Finances of Cuba (OMFi), which had estimated a ceiling of 590 CUP by the end of May.”
The chronology of the dollar thresholds illustrates the acceleration of decline: 200 CUP in October 2022, 300 CUP in February 2024, 400 CUP in August 2025, 500 CUP on February 10, 2026 and 600 CUP just four months later.
Behind this spiral are structural causes that feed into each other: a chronic energy crisis exacerbated by interruptions in oil supply from Venezuela and Mexico, and a collapsed tourism sector that in March 2026 recorded only 35,561 international visitors, an 82% decrease compared to the same month in 2025.
For Cubans who rely on salaries in pesos, the gap in relation to the cost of the basic basket "widens without pause."
«This new threshold, like the previous ones, is not a ceiling,» warned elTOQUE when the dollar reached 600 CUP, words that also perfectly apply to the euro, which this Thursday further undermines the Cuban peso.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of this 4th of June:
1 USD = 600 CUP.
5 USD = 3,000 CUP.
10 USD = 6,000 CUP.
20 USD = 12,000 CUP.
50 USD = 30,000 CUP.
100 USD = 60,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 680 CUP.
5 EUR = 3,400 CUP.
10 EUR = 6,800 CUP.
20 EUR = 13,600 CUP.
50 EUR = 34,000 CUP.
100 EUR = 68,000 CUP.
200 EUR = 136,000 CUP.
500 EUR = 340,000 CUP.
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