The informal Cuban market records its second consecutive day of simultaneous declines in the three reference currencies this Friday, with decreases more pronounced than those of the previous day.
The dollar drops 15 Cuban pesos to 670 CUP.
In the case of the euro, it drops by 20 pesos and is now at 770 CUP.
The Freely Convertible Currency (MLC) has decreased by 10 pesos, dropping to 490 CUP, according to data from the independent source elTOQUE.
Exchange Rate Evolution
Exchange rate today 06/26/2026 - 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 from MLC to CUP according to elTOQUE: 490 CUP.
The Thursday session had already marked a turning point, recording the first simultaneous drop of the three currencies in many months, with a decrease of 10 pesos for each.
This Friday, the trend is accelerating, especially with the euro, which has dropped 40 pesos in just two days.
Active offers show wide ranges that reflect some sellers' resistance to lowering prices: the dollar is trading between 600 and 735 CUP, the euro between 700 and 880 CUP, and the MLC between 400 and 570 CUP.
The analysis by elTOQUE warns that “sooner or later, those who sell will have to concede if they see that the rest of the market offers the dollar at a lower price and that no one is willing to pay the high price anymore.”
A correction after historic highs
The drop over these two days comes after an unprecedented rise throughout June.
The dollar started the month at 585 CUP and the euro at 645 CUP; in just three weeks, both currencies surged by 18.8% and 24%, respectively, reaching their all-time highs on June 21: 695 CUP for the dollar and 800 CUP for the euro.
The Currency and Finance Observatory (OMfi) of elTOQUE had projected a ceiling of 650 CUP for the dollar throughout the month, but that barrier was crossed on June 12, more than two weeks earlier than expected.
The first sign of weakness came on June 23, when the MLC fell by 25 pesos to 485 CUP while the dollar and euro remained at record levels.
Two days later, the first joint drop of the three currencies occurred.
What could be behind the downward shift of currencies in Cuba?
Two factors may be influencing the change in trend.
The first is the package of 176 economic measures approved on June 19 by the National Assembly, which includes the authorization of private banks and currency exchange houses, private remittance operators, and a digital currency exchange market with currency auctions.
The second is the unprecedented call by Miguel Díaz-Canel for an advisory group of critical economists, including Juan Triana, Julio Carranza, and Omar Everleny Pérez Villanueva.
However, independent economists maintain a skeptical stance regarding the announced measures.
Pedro Monreal González was emphatic: "The numbers don't add up and the government wants to make it seem like it's not a problem of mathematics, but of will."
Five independent economists -including Pedro Monreal himself- have been working since March on the Cuba Transformación project, a comprehensive reform proposal independent of the regime that aims for "a social market economy, based on a democratic state governed by the rule of law."
Despite the adjustments made over these two days, the magnitude of the Cuban monetary crisis remains historic.
In 2020, the dollar was quoted at 42 CUP in the informal market; by January 2026, it had reached 435 CUP; and on June 21, it hit 695 CUP. The Cuban peso has lost more than 95% of its value in six years.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of June 26:
1 USD = 670 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) banknotes to Cuban Peso (CUP):
1 EUR = 770 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.
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