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The dollar and the euro are once again reaching historic highs this Wednesday in the informal Cuban market, according to the daily report from elTOQUE, breaking the brief pause of Tuesday when both currencies remained unchanged for the first time in 20 consecutive days of increases.
In recent hours, the dollar rose by 10 pesos to reach 680 CUP, an all-time high for the U.S. currency in informal trading in Cuba.
The euro gained five pesos to reach 775 CUP, a figure that also sets a record.
The freely convertible currency (MLC) remained stable at 500 CUP, the same level it closed at on Tuesday after declining from the record of 510 CUP on Monday.
Exchange rate today 06/17/2026 - 8:00 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 680 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 775 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 500CUP.
A pause that lasted 24 hours
On Tuesday, the informal market provided an unusual signal: the dollar remained stagnant at 670 CUP and the euro at 770 CUP, without any variation for the first time after 20 consecutive days of increases.
That truce lasted only a few hours. This Wednesday, upward pressure returned, and both currencies resumed the trend that has dominated June almost uninterruptedly.
The offers recorded by elTOQUE show wide ranges: the euro is traded between 740 and 810 CUP; the dollar, between 650 and 710 CUP; and the MLC, between 400 and 570 CUP.
The gap with the official rate is widening
While the informal market sets the exchange rate at 680 CUP per dollar, the official rate from the Central Bank of Cuba establishes the dollar at 555 CUP and the euro at 643.80 CUP.
Anyone wishing to buy dollars in the real market pays 125 pesos more than what the government acknowledges, a gap that creates profound distortions in access to goods and services for millions of Cubans.
June exceeded all projections
The dollar started June at 585 CUP and in just 17 days accumulated an increase of 95 CUP, over 16% in less than three weeks.
The Observatory of Currencies and Finance (OMFi) of elTOQUE had projected a maximum ceiling of 650 CUP to close June at the beginning of the month. That barrier was crossed on the 12th, 18 days ahead of schedule.
The OMFi had cautioned that "greater economic isolation could result in more restrictions on the entry of foreign currency, reduced availability of imported goods, and an additional increase in inflationary pressures."
Six years of freefall for the peso
In 2020, the dollar was trading at around 42 CUP in the informal market. Today it stands at 680 CUP, representing a loss of over 95% of the value of the Cuban peso in six years.
The average year-on-year depreciation between January and April 2026 was 45%, far exceeding the 22% recorded throughout 2025.
Behind the climb, structural factors are accumulating: the collapse of tourism -Cuba received only 359,491 visitors between January and May, a drop of 58.4%- an unprecedented energy crisis and salaries that do not align with the actual cost of living.
The economist Elías Amor warned in June that the dollar could approach 1,000 pesos if macroeconomic imbalances continue.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of this June 17:
1 USD = 680 CUP.
5 USD = 3,400 CUP.
10 USD = 6,800 CUP.
20 USD = 13,600 CUP.
50 USD = 34,000 CUP.
100 USD = 68,000 CUP.
Equivalence of Euro banknotes (EUR) to Cuban Peso (CUP):
1 EUR = 775 CUP.
5 EUR = 3.875 CUP.
10 EUR = 7,750 CUP.
20 EUR = 15,500 CUP.
50 EUR = 38,750 CUP.
100 EUR = 77,500 CUP.
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