The informal foreign exchange market in Cuba recorded new historical highs this Saturday for the dollar, the euro, and the MLC, according to monitoring by elTOQUE, which closely follows the evolution of the exchange rate on the island.
The US dollar rose five pesos compared to Friday and is now trading at 615 Cuban pesos (CUP), one day after already reaching a record of 610 CUP.
The euro climbed ten pesos to reach the barrier of 700 CUP for the first time, a threshold that had never been achieved until today.
The MLC, the digital currency used by the Cuban regime in certain stores, made the most striking leap: it rose by 45 pesos from 405 CUP on Friday to 450 CUP, its all-time high.
Exchange Rate Evolution
Exchange rate today 06/06/2026 - 8:17 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 615 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 700 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 450 CUP.
The previous day had already been historic.
The dollar and the euro set new records on Friday, with the dollar at 610 CUP and the euro at 690 CUP, while the MLC had slightly decreased to 405 CUP after quoting at 410 CUP on Thursday.
The escalation has accumulated weeks of sustained deterioration.
At the beginning of May, the dollar was around 535 CUP; on May 25, it reached 560 CUP; on June 2, it surpassed 600 CUP for the first time; and this Saturday it reached 615 CUP.
In just over a month, the Cuban peso lost approximately 12% of its value against the dollar.
The gap with the official exchange rate continues to widen.
The Central Bank of Cuba published an official exchange rate of 533 CUP per dollar this Saturday, 82 pesos lower than the informal price, highlighting the increasing disconnection between the formal and informal economies on the island.
The impact on the population is devastating.
With an average salary of around 6,930 CUP, an average Cuban worker earns less than 12 dollars a month at the informal exchange rate.
Pensions, around 4,000 CUP, amount to less than seven dollars. Meanwhile, the monthly cost of the basic basket for two people in Havana exceeds 41,000 CUP, more than five times the average salary.
The rise in currency prices negatively impacts the purchasing power of the population, as the Cuban peso devalues against foreign currencies, increasing the cost of living, especially for those who rely on remittances or need to import products from abroad.
The dollar has recorded four consecutive highs at the beginning of June, in a trend that shows no signs of slowing down. The cumulative inflation between 2024 and 2026 exceeds 200%, and the shortage of foreign currency, the decline of tourism, and the energy crisis continue to exert pressure on the Cuban peso.
The economist Elías Amor warned on Friday that if the deterioration continues, the dollar could reach 1,000 Cuban pesos.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates on this 6th of June:
1 USD = 615 CUP.
5 USD = 3,075 CUP.
10 USD = 6,150 CUP.
20 USD = 12,300 CUP.
50 USD = 30,750 CUP.
100 USD = 61,500 CUP.
Equivalence of Euro banknotes (EUR) to Cuban Peso (CUP):
1 EUR = 700 CUP.
5 EUR = 3,500 CUP.
10 EUR = 7,000 CUP.
20 EUR = 14,000 CUP.
50 EUR = 35,000 CUP.
100 EUR = 70,000 CUP.
200 EUR = 140,000 CUP.
500 EUR = 350,000 CUP.
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