This January 9th, Cuba's informal currency exchange market witnesses significant developments: a rise in both the dollar and euro values.
Recently, the dollar has climbed to 453 CUP in Cuba's unofficial exchange rates, as reported by the independent outlet elTOQUE. This marks an increase of two pesos compared to its previous day's value.
This upward trend has gained momentum following the arrest of Nicolás Maduro in Venezuela, which has stirred political turmoil and economic instability across the region, directly affecting currency valuations on the island.
Meanwhile, the euro has experienced a sharp increase of five pesos, now standing at 495 CUP.
Conversely, the Freely Convertible Currency (MLC) has plummeted, dropping to 400 CUP, representing a decrease of eight pesos from its average selling price on Thursday.
With these changes in the informal market's rates this Friday, the Cuban peso continues its decline against foreign currencies, underscoring a year marked by uncertainty and diminishing purchasing power on the island.
The rising value of dollars and euros highlights the growing mistrust in the Cuban peso (CUP) as citizens seek refuge in stronger currencies amidst the looming economic and political uncertainties.
Exchange rates on 01/09/2026 - 7:19 a.m. in Cuba:
Dollar (USD) to CUP rate according to elTOQUE: 453 CUP.
Euro (EUR) to CUP rate according to elTOQUE: 495 CUP.
MLC to CUP rate according to elTOQUE: 400 CUP.
Conversion of United States Dollar (USD) bills to Cuban Peso (CUP), based on January 9 exchange rates:
1 USD = 453 CUP.
5 USD = 2,265 CUP.
10 USD = 4,530 CUP.
20 USD = 9,060 CUP.
50 USD = 22,650 CUP.
100 USD = 45,300 CUP.
Conversion of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 495 CUP.
5 EUR = 2,475 CUP.
10 EUR = 4,950 CUP.
20 EUR = 9,900 CUP.
50 EUR = 24,750 CUP.
100 EUR = 49,500 CUP.
Cuba's Economic Climate and Currency Exchange
Why has the dollar increased in value in Cuba's informal market?
The dollar's value has risen due to regional instability following Nicolás Maduro's arrest in Venezuela, causing economic uncertainty that impacts Cuba's currency valuations.
What is the impact of the euro's increase in Cuba?
The euro's rise reflects a lack of confidence in the Cuban peso, prompting citizens to turn to more stable foreign currencies amid Cuba's economic challenges.
How has the MLC been affected recently?
The MLC has experienced a notable decline, falling to 400 CUP, which is eight pesos less than its previous average, indicating a shift in currency preferences.