As of January 1, 2026, the informal market in Cuba values the U.S. dollar at 435 Cuban pesos (CUP), according to the independent source elTOQUE.
The U.S. currency is widely regarded as a primary store of value among Cubans, largely due to the ongoing economic instability and the persistent shortage of cash in the nation's banks.
Meanwhile, the euro has reached a rate of 480 CUP, positioning it as the most expensive currency in the parallel market. Although less circulated than the dollar, the euro is favored by many Cubans for travel and international transactions, particularly by those receiving remittances from Europe.
The freely convertible currency (MLC) remains at 400 CUP. Despite experiencing a decline in recent days, it continues to serve as a middle-ground option for individuals shopping in state-run stores or digital platforms.
Informal Exchange Rates Snapshot: January 1, 2026
Exchange rate of the U.S. dollar (USD) to Cuban pesos (CUP): 435 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 480 CUP
Exchange rate of the MLC to Cuban pesos (CUP): 400 CUP
Currency Conversion for U.S. Dollars and Euros to Cuban Pesos
U.S. Dollar to Cuban Pesos:
- $1 USD → 435 CUP
- $2 USD → 870 CUP
- $5 USD → 2,175 CUP
- $10 USD → 4,350 CUP
- $20 USD → 8,700 CUP
- $50 USD → 21,750 CUP
- $100 USD → 43,500 CUP
Euro to Cuban Pesos:
- €5 EUR → 2,400 CUP
- €10 EUR → 4,800 CUP
- €20 EUR → 9,600 CUP
- €50 EUR → 24,000 CUP
- €100 EUR → 48,000 CUP
- €200 EUR → 96,000 CUP
- €500 EUR → 240,000 CUP
Understanding Cuba's Informal Currency Market
Why is the U.S. dollar highly demanded in Cuba?
The U.S. dollar is in high demand in Cuba due to economic instability and restricted access to cash in banks, making it a reliable store of value.
What makes the euro more expensive in the informal market?
The euro is more expensive because it is less circulated than the dollar but is preferred for international transactions and remittances from Europe.