The informal currency market in Cuba shows no signs of easing this Friday, and the day's rates confirm that the announcement of 176 economic measures by the regime has not succeeded in alleviating the pressure on the Cuban peso.
According to the data published by elTOQUE, the dollar rises by five pesos and is sold for 690 Cuban pesos (CUP).
The euro, for its part, rises to 790 CUP and maintains a difference of 100 pesos compared to the informal value of the dollar.
The Freely Convertible Currency (MLC) remains at 500 CUP.
Exchange Rate Evolution
Exchange rate today 06/19/2026 - 9:00 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 690 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 790 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 500 CUP.
The figures arrive at an extraordinary moment: Prime Minister Manuel Marrero Cruz presented to the National Assembly, in an extraordinary session held this Thursday, the largest package of economic reforms since the Special Period.
The informal market reacted with more increases, but not with confidence.
The quotes of the day
The dollar is trading at 690 CUP as the representative rate, although offers among individuals range between 620 and 765 CUP, a spectrum that reflects the current uncertainty.
The euro is the currency under the most pressure: at 790 CUP, it is dangerously close to the psychological barrier of 800 pesos and maintains a difference of 100 CUP above the dollar.
The informal offers for the euro range between 760 and 820 CUP.
The MLC remains at 500 CUP for the second consecutive day, with a trading range of 400 to 570 CUP.
By territories, Havana records the highest rate at 681 CUP per dollar, while the Isle of Youth marks the lowest at 570 CUP.
The largest daily variation corresponds to Villa Clara, with an increase of 32 CUP compared to Thursday.
A gap that keeps growing
The gap between the informal market and official rates is widening increasingly.
The Central Bank of Cuba sets the dollar at 573 CUP (for sale) and the euro at 657 CUP (for sale) through CADECA, meaning that those who buy dollars on the street pay over 115 pesos more than what the state acknowledges.
The dollar began June at 585 CUP and in just 19 days has risen by more than 17%.
The Observatory of Coins and Finance (OMFi) from elTOQUE had projected a ceiling of 650 CUP for the entire month; that barrier was crossed on June 12, with 18 days to spare.
In 2020, the dollar was trading at around 42 CUP in the informal market; this Friday it reached 690 CUP, a loss of more than 95% of the peso's value in six years.
The 176 measures do not convince the market
The package presented by Marrero Cruz includes measures that would have been unthinkable just a few years ago: authorization of private banking for the first time since 1959, creation of private currency exchange offices with a real-time digital exchange market, currency auctions, removal of the limit of 100 workers for MSMEs, and the possibility for state-owned enterprises to transform into joint-stock companies.
It was also announced that the minimum wage will be increased from 2,100 to 3,210 CUP—an increase of 53%—with an expected effective date of July 1, 2026.
The citizen reaction has been one of widespread skepticism. On social media, the most frequently asked question is "Does anyone believe them?" Even Miguel Díaz-Canel himself acknowledged before the Assembly that "there are obstacles that do not come from outside or from the embargo."
The economist Elías Amor sums it up starkly: “The problem is that needs can be met with foreign currency, and people will be willing to pay whatever it takes for the currency.”
And he added: "No foreign currency will enter Cuba in the coming months."
With the dollar knocking on the door of 700 CUP, the announced reforms will have to show tangible results before the informal market changes direction.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this 19th of June:
1 USD = 690 CUP.
5 USD = 3,450 CUP.
10 USD = 6,900 CUP.
20 USD = 13,800 CUP.
50 USD = 34,500 CUP.
100 USD = 69,000 CUP.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 790 CUP.
5 EUR = 3,950 CUP.
10 EUR = 7,900 CUP.
20 EUR = 15,800 CUP.
50 EUR = 39,500 CUP.
100 EUR = 79,000 CUP.
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