The informal currency market in Cuba began this Tuesday with a new development that breaks the trend of recent weeks: the dollar and the euro are currently holding their values from the previous day.
The only piece of news is that the Freely Convertible Currency (MLC) has dropped by 10 pesos, decreasing to 500 Cuban pesos (CUP), following the spectacular increase of 70 pesos that occurred on Monday.
Exchange rate today 06/16/2026 - 8:00 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 670 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 770 CUP.
Exchange Rate Evolution
Exchange rate from MLC to CUP according to elTOQUE: 500CUP.
The dollar remains unchanged after 20 consecutive days of increases
The dollar remains this Tuesday at 670 CUP, with no change for the first time in 20 consecutive days of increases.
The U.S. dollar hit that historic record on Monday, when it surged 10 pesos in one go to close at that level.
The euro also remains steady at 770 CUP, exactly 100 pesos above the dollar, maintaining the value reached in the previous day.
The pause is striking because the dollar started June at 585 CUP and has risen continuously. In just 15 days, the U.S. currency has accumulated an increase of 85 CUP, equivalent to over 14%.
The MLC: From historic high to decline
The most notable news of the day is precisely the adjustment of the MLC.
After soaring 70 pesos suddenly on Monday and crossing the 500 CUP mark for the first time to reach 510, it drops back to 500 CUP this Tuesday.
The MLC is a digital instrument created by the Cuban regime to operate in state-run stores that accept foreign currency.
Its quote in the informal market reflects the lack of trust in the state financial system and the scarcity of physical currency.
In just ten days in June, it rose from 405 CUP to 510 CUP before this first correction.
The projections, now surpassed
The Currency and Finance Observatory (OMFi) of elTOQUE had projected a maximum scenario of 650 CUP per dollar to close the month at the beginning of June. This figure was surpassed on the 12th, nearly three weeks before the end of June.
Behind this escalation lie interrelated factors. Tourism has plummeted: Cuba received only 328,608 visitors between January and April 2026, a decrease of 55.8% compared to the same period in 2025.
In May, only 30,883 tourists arrived, the worst monthly figure in years.
This is compounded by a severe energy crisis, with generation deficits exceeding 1,780 MW recorded on June 13, and an unsupported monetary expansion: the regime issued 2,000 and 5,000 peso bills that entered circulation on April 1, implicitly acknowledging the impact of inflation. Cubans responded with irony: "My salary on a bill."
Since 2020, the Cuban peso has lost more than 95% of its value against the dollar in the informal market, dropping from about 42 CUP per dollar to the current 670 CUP. The official rate set by the Central Bank today prices the dollar at 551 CUP, creating a gap of 119 pesos compared to the real market.
The Cuban economist Elías Amor recently warned that the dollar could approach 1,000 pesos if macroeconomic imbalances persist.
The Observatory of Currencies and Finances of Cuba (OMFi) warned that further economic isolation could lead to more restrictions on the entry of foreign currency, reduced availability of imported goods, and an additional increase in inflationary pressures.
Equivalent of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this 16th of June:
1 USD = 670 CUP.
2 USD = 1,340 CUP.
5 USD = 3,350 CUP.
10 USD = 6,700 CUP.
20 USD = 13,400 CUP.
50 USD = 33,500 CUP.
100 USD = 67,000 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 770 CUP.
2 EUR = 1,540 CUP.
5 EUR = 3,850 CUP.
10 EUR = 7,700 CUP.
20 EUR = 15,400 CUP.
50 EUR = 38,500 CUP.
100 EUR = 77,000 CUP.
200 EUR = 154,000 CUP.
500 EUR = 385,000 CUP.
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