The informal currency market in Cuba opened this Tuesday with movements in opposite directions: the dollar fell while the MLC increased.
The U.S. dollar fell by five pesos to 605 Cuban pesos (CUP), while the Freely Convertible Currency (MLC) rose by five pesos to 495 CUP.
The euro showed no variation and remained at 700 CUP, the level it reached on Monday.
Exchange rate today 06/30/2026 - 9:00 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 605 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: 495 CUP.
The dollar is on another decline, marking a streak that brings its total loss to 90 CUP since its historical high of 695 CUP reached on June 21.
Negotiation ranges between individuals
The reference quotes today do not reflect the entirety of the market: between sellers and buyers, prices fluctuate within wider ranges that highlight some operators' resistance to accepting the new levels.
In recent hours, the recorded ranges are as follows, according to data published by the independent outlet elTOQUE.
- EUR: from 630 to 790 CUP.
- USD: from 550 to 680 CUP.
- MLC: from 380 to 600 CUP.
A sustained correction from historical highs
The turning point of this downward trend occurred on June 21, when the dollar reached 695 CUP and the euro hit 800 CUP, both historical highs.
The first signal arrived on June 23, when the MLC dropped significantly by 25 pesos to 485 CUP.
On June 25, the first joint drop of the three currencies occurred, with a decrease of 10 pesos each.
It is worth noting that 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 expected.
The 176 measures and the skepticism of economists
Two factors are highlighted as possible triggers for the downward trend.
The first is the package of 176 economic measures approved on June 19 by the National Assembly and presented by Prime Minister Manuel Marrero Cruz, which includes the authorization of private banks and currency exchange houses and a digital exchange market with currency auctions.
The second is the 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.
Pedro Monreal González qualified the 176 measures as "monstrous" or "deformed hybrid".
He also warned that "the numbers don't add up and that the government wants to make it seem like it's not a matter of math, but of will."
In parallel, five independent economists, including Monreal himself, have been working since March 2026 on the Cuba Transformation project, an initiative independent of the regime that aims for “a social market economy, grounded in a democratic rule of law.”
The current correction does not disguise the magnitude of the accumulated deterioration.
In 2020, the dollar was trading at 42 CUP in the informal market; by January 2026, it had reached 435 CUP; and on June 21, it climbed to 695 CUP.
The Cuban peso has lost more than 95% of its value in just six years, amidst a backdrop of fuel scarcity, chronic blackouts, and rampant inflation.
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), according to the exchange rates of this June 30:
1 USD = 605 CUP.
5 USD = 3,025 CUP.
10 USD = 6,050 CUP.
20 USD = 12,100 CUP.
50 USD = 30,250 CUP.
100 USD = 60,500 CUP.
Equivalence of Euro (EUR) banknotes 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.
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