The Cuban informal market recorded new historical highs for the three main currencies on Thursday.
The US dollar climbed to 640 Cuban pesos (CUP), which is five pesos more than the previous day.
The euro reached 730 CUP, marking a significant increase of 15 units in just one day.
In the case of the Freely Convertible Currency (MLC), the digital creation with which the Cuban regime operates in some stores matched its recent record by reaching 450 CUP, according to real-time monitoring by elTOQUE.
Exchange Rate Evolution
Exchange rate today 11/06/2026 - 8:15 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 640 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 730 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 450 CUP.
The day's events solidify a bullish trend that marks over 15 consecutive days of depreciation of the Cuban peso in the informal market, with no signs of a slowdown in sight.
The devastating impact on Cubans
With an average salary of just 6,930 CUP per month, according to data from the National Office of Statistics and Information (ONEI) from 2025, the exchange rate increase is crushing the purchasing power of the population.
A study by researcher Javier Pérez Capdevila, published in May 2026, estimates that meeting the basic needs of a person costs 96,060 CUP per month, the equivalent of 14 average salaries.
The year-on-year inflation stands at 14.73%, with agricultural prices skyrocketing by 31.9% in the first quarter of 2026.
The structural causes of the crisis
The accelerated depreciation of the peso is due to structural causes that the regime has not addressed: chronic scarcity of foreign currency, collapse of tourism, unbacked monetary emission, and international isolation.
In March 2026, the Central Bank introduced 2,000 and 5,000 peso bills, justifying the measure as a necessity to "facilitate cash transactions," implicitly acknowledging that inflation had eroded the value of circulating cash.
Since 2020, the Cuban peso has lost more than 95% of its value against the dollar in the informal market: it went from 42 CUP to over 640 CUP in six years.
The economist Elías Amor recently warned that the dollar could approach 1,000 CUP if macroeconomic imbalances are not corrected.
Analysts consulted by elTOQUE were even more direct: "The dollar has no limits in the short term," given that the peso remains weak and structural imbalances show no signs of correction.
The OMFi of elTOQUE warned that “if there is no negotiation with the United States, the new phase of isolation will worsen restrictions on foreign currency, imported goods, and productive inputs, leading to more shortages, social deterioration, and inflationary pressures.”
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of June 11:
1 USD = 640 CUP.
5 USD = 3,200 CUP.
10 USD = 6,400 CUP.
20 USD = 12,800 CUP.
50 USD = 32,000 CUP.
100 USD = 64,000 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 730 CUP.
5 EUR = 3,650 CUP.
10 EUR = 7,300 CUP.
20 EUR = 14,600 CUP.
50 EUR = 36,500 CUP.
100 EUR = 73,000 CUP.
200 EUR = 146,000 CUP.
500 EUR = 365,000 CUP.
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