The informal foreign exchange market in Cuba shows no signs of easing this Friday, and the day's quotes 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 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 in relation 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 the largest package of economic reforms since the Special Period to the National Assembly during an extraordinary session held this Thursday.
The informal market reacted with more increases, but not with confidence.
The quotes of the day
The dollar is traded at 690 CUP as the representative rate, although offers among individuals range between 620 and 765 CUP, a range that reflects the uncertainty of the moment.
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 euro exchange rates fluctuate 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 registers the highest rate at 681 CUP per dollar, while the Isle of Youth marks the lowest at 570 CUP.
The largest change of the day corresponds to Villa Clara, with a rise of 32 CUP compared to Thursday.
A gap that keeps growing
The gap between the informal market and official rates is widening.
The Central Bank of Cuba sets the dollar at 573 CUP (selling) and the euro at 657 CUP (selling) through CADECA, which means that those who buy dollars on the street pay more than 115 pesos above what the State recognizes.
The dollar started June at 585 CUP and in just 19 days has accumulated an increase of over 17%.
The Coin and Finance Observatory (OMFi) of elTOQUE had projected a ceiling of 650 CUP for the entire month; that barrier was crossed on June 12, 18 days ahead of schedule.
In 2020, the dollar was valued at about 42 CUP in the informal market; this Friday it stands at 690 CUP, representing 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, the creation of private currency exchange houses with a real-time digital exchange market, currency auctions, the elimination of the 100-employee cap for micro, small, and medium enterprises (mipymes), and the possibility for state-owned companies to become joint-stock companies.
It was also announced that the minimum wage will be raised from 2,100 to 3,210 CUP—a 53% increase—with the change set to take effect on July 1, 2026.
The public 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 bluntly: “The problem is that needs can be met with foreign currency, and people will be willing to pay whatever it takes for the foreign currency.”
And he added: "No foreign currency will enter Cuba in the coming months."
With the dollar nearing 700 CUP, the announced reforms will need to show concrete results before the informal market shifts direction.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of June 19:
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 banknotes (EUR) 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.
Filed under: