The Cuban informal market registered its second consecutive day of simultaneous decline in all three reference currencies this Friday, with decreases more pronounced than those of the previous day.
The dollar falls back 15 Cuban pesos to 670 CUP.
In the case of the euro, it drops by 20 pesos and stands at 770 CUP.
The Freely Convertible Currency (MLC) has decreased by 10 pesos, falling to 490 CUP, according to data from the independent outlet 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 of MLC to CUP according to elTOQUE: 490 CUP.
Thursday's events had already marked a turning point, as they recorded the first simultaneous decline of the three currencies in many months, with a drop of 10 pesos for each.
This Friday, the trend is accelerating, particularly with the euro, which has suffered a decline of 40 pesos in just two days.
The 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 from elTOQUE warns that “sooner or later, those who sell will have to yield if they see that the rest of the market is offering the dollar at a lower price and that there are no longer buyers willing to pay the high price.”
A correction after historical highs
The decline over the past two days follows an unprecedented climb throughout June.
The dollar started the month at 585 CUP and the euro at 645 CUP; in just three weeks, both currencies skyrocketed by 18.8% and 24%, respectively, reaching their historical 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 dropped alone by 25 pesos to 485 CUP, while the dollar and euro remained at record highs.
Two days later, the first joint drop of the three currencies occurred.
What could be behind the decline of currencies in Cuba?
Two factors could 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 hold a skeptical view 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 a matter of will."
Five independent economists - including Pedro Monreal himself - have been working since March on the Cuba Transformation project, a comprehensive reform proposal independent of the regime that aims for "a social market economy, supported by a democratic rule of law."
Despite the correction over these two days, the magnitude of the Cuban monetary crisis remains historic.
In 2020, the dollar was valued 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 over 95% of its value in six years.
Equivalent of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for this 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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