The dollar and the euro continue their downward trend this Monday in the Cuban informal market, solidifying a correction that began last week after reaching historical highs.
According to data from the independent outlet elTOQUE, the dollar has decreased by 10 pesos, now standing at 610 Cuban pesos (CUP), while the euro has dropped by 20 units, falling to 700 CUP.
The freely convertible currency (MLC) is the only one that makes a difference today: it rises by five units, reaching 490 CUP.
Exchange rate today 06/29/2026 - 8:17 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 610 CUP.
Exchange Rate Evolution
Exchange rate of the euro EUR to CUP according to elTOQUE: 700 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 490 CUP.
A week of sustained decline
The correction comes after an unprecedented escalation throughout June.
The dollar started the month at 585 CUP and the euro at 645 CUP; in just three weeks, both currencies skyrocketed to their historical highs on June 21: 695 CUP for the dollar and 800 CUP for the euro, increases of 18.8% and 24%, respectively.
The first sign of weakness appeared on June 23, when the MLC dropped by 25 pesos to 485 CUP, while the dollar and the euro remained at record levels.
Two days later, the first simultaneous drop of the three currencies occurred in many months, with a decrease of 10 pesos for each.
The decline accelerated on Friday June 26: the dollar fell to 670 CUP and the euro to 770 CUP.
In total, since the peaks on June 21, the dollar has lost 85 CUP and the euro 100 CUP in just one week.
Wide ranges: The market still hasn't reached a consensus
Despite the downward trend, the trading ranges among individuals remain wide, reflecting the reluctance of some sellers to accept the new prices.
According to elTOQUE, the offers registered in the last few hours are within the following margins:
- EUR: from 630 to 800 CUP.
- USD: from 530 to 690 CUP.
- MLC: from 380 to 600 CUP.
What is behind the turn?
Two factors could explain 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 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 a group of critical economists, including Juan Triana, Julio Carranza, and Omar Everleny Pérez Villanueva. However, independent economists maintain a skeptical stance.
In parallel, five independent economists -including Pedro Monreal- have been working since March on the Cuba Transformation project, a proposal independent of the regime that aims for "a social market economy, based on a democratic rule of law."
Pedro Monreal González has been emphatic: "The numbers do not add up, and the government wants to make it seem like it is not a math problem, but rather a matter of will."
A monetary crisis of historical proportions
This week's correction should not mask the magnitude of the accumulated deterioration. In 2020, the dollar was trading at 42 CUP in the informal market; by January 2026, it had risen to 435 CUP; and on June 21, it reached 695 CUP.
The Cuban peso has lost more than 95% of its value in just six years, in a context of fuel shortages, chronic blackouts, rampant inflation, and mass population exodus.
The Currency and Finance Observatory of elTOQUE had projected a ceiling of 650 CUP for the dollar throughout June, but that barrier was crossed on June 12, more than two weeks earlier than anticipated, illustrating the rapid deterioration of the situation prior to the current correction.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on June 29th:
Here is the list of current exchange rates in the informal currency market in Cuba, using the reference values you mentioned:
1 USD = 610 CUP.
5 USD = 3,050 CUP.
10 USD = 6,100 CUP.
20 USD = 12,200 CUP.
50 USD = 30,500 CUP.
100 USD = 61,000 CUP.
Exchange rate of Euro banknotes (EUR) to Cuban Peso (CUP):
1 EUR = 700 CUP.
5 EUR = 3,500 CUP.
10 EUR = 7,000 CUP.
20 EUR = 14,000 CUP.
50 EUR = 35,000 CUP.
100 EUR = 70,000 CUP.
500 EUR = 350,000 CUP.
Filed under: