The informal Cuban market opened this Monday with new increases in the exchange rates of the main currencies: the dollar reached 625 Cuban pesos (CUP), the euro rose to 710 CUP, and the MLC was set at 455 CUP, according to the monitoring of informal rates recorded by elTOQUE.
Compared to the previous day, the dollar increased by five CUP—closing on Sunday at 620 CUP—and the euro similarly strengthened its position, trading between 705 and 710 CUP the day before.
Informal exchange rate in Cuba Monday, June 8, 2026 - 06:45
Exchange rate of the dollar (USD) to Cuban pesos CUP: 625 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 710 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 455 CUP
The week of June 2 to June 8 has been particularly turbulent for the informal currency market. Last Monday, the dollar was quoted at 595 CUP and the euro at 635 CUP. In just seven days, the dollar has seen an increase of 30 CUP (+5%) and the euro by 75 CUP (+11.8%).
The ascent has been daily and relentless: on Wednesday, the dollar reached 600 CUP and the euro jumped to 680 CUP; on Thursday, both currencies set new records at 610 and 690 CUP respectively; on Friday, the dollar hit 615 CUP and the euro crossed the 700 CUP barrier for the first time; and on Saturday, the dollar and euro established a new sales record before continuing to rise this Monday.
Exchange Rate Evolution
The outlook is even more alarming when the time frame is extended. At the end of March 2026, the dollar was trading at 515 CUP in the informal market; today it sits at 625 CUP, representing an increase of 110 CUP in just over two months. Only between late April and early June, the Cuban peso lost 12.1% of its value against the dollar, according to a report from elTOQUE.
The gap with the official rate of the Central Bank of Cuba is immense: the institution maintains an exchange rate of 533 CUP per dollar and 619.77 CUP per euro, which implies a difference of more than 90 CUP in both currencies compared to the informal market.
Analysts attribute the sustained escalation to a combination of structural factors inherent to the crisis faced by the dictatorship: chronic fiscal deficit, high monetary issuance, contraction of GDP, collapse of tourism—only 35,561 visitors arrived in Cuba in March 2026, an 82% decrease compared to the same month in 2025—energy crisis with prolonged blackouts, and informal dollarization of the economy.
The economist Elías Amor publicly warned that the dollar could continue to rise if the underlying macroeconomic imbalances are not corrected, in a warning that summarized the situation as "Cuba on the brink."
Analysts consulted on the potential continuation of the rise were unequivocal: the dollar "has no limits in the short term," as the peso remains weak and the structural imbalances driving the depreciation show no signs of correction.
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