This week kicks off with notable shifts in Cuba's informal market, as both the U.S. dollar and the Freely Convertible Currency (MLC) experience price drops.
After maintaining a steady rate of 490 CUP per dollar since last Tuesday, the U.S. currency saw a decline of five pesos, settling at 485 CUP per dollar as of Monday morning, according to the daily report from the independent outlet elTOQUE.
In addition, the value of the MLC in the informal Cuban currency market has also decreased recently. The MLC, which has seen frequent fluctuations in recent days, has dropped from 410 to 400 CUP.
The euro, however, remains unchanged, continuing to trade at 530 CUP, marking its fifth consecutive day without variation.
Exchange rates as of January 26, 2026, at 7:03 a.m. in Cuba are as follows:
- USD to CUP exchange rate: 485 CUP.
- EUR to CUP exchange rate: 530 CUP.
- MLC to CUP exchange rate: 400 CUP.
The Observatory of Currencies and Finance of Cuba (OMFi) had projected upward trends for January:
- Dollar: central projection at 465 CUP (range between 454 and 480 CUP).
- Euro: projected at 505 CUP (range between 479 and 515 CUP).
- MLC: estimated around 427 CUP (range between 398 and 440 CUP).
As January nears its end, the current rates of these key currencies—485 CUP per dollar and 530 CUP per euro—exceed these projections, underscoring market stress due to ongoing uncertainty and lack of confidence in the Cuban peso.
Here's the conversion of U.S. dollars to Cuban pesos with today's rates:
- 1 USD = 485 CUP.
- 5 USD = 2,425 CUP.
- 10 USD = 4,850 CUP.
- 20 USD = 9,700 CUP.
- 50 USD = 24,250 CUP.
- 100 USD = 48,500 CUP.
Conversion of Euros to Cuban pesos:
- 1 EUR = 530 CUP.
- 5 EUR = 2,650 CUP.
- 10 EUR = 5,300 CUP.
- 20 EUR = 10,600 CUP.
- 50 EUR = 26,500 CUP.
- 100 EUR = 53,000 CUP.
- 200 EUR = 106,000 CUP.
Understanding the Exchange Rate Fluctuations in Cuba
Why did the U.S. dollar and MLC prices drop in the informal Cuban market?
The decline may be attributed to market volatility, changes in demand and supply dynamics, and the overarching economic instability in Cuba.
How does the current exchange rate compare to previous projections?
Current rates for both the dollar and euro have surpassed earlier projections, indicating a higher demand or decreased confidence in the Cuban peso than initially anticipated.
What impact does the exchange rate have on the Cuban economy?
Exchange rate fluctuations can affect import prices, cost of living, and overall economic stability, further impacting the purchasing power of the Cuban population.