For the second consecutive day, Cuba's key currencies—dollar, euro, and MLC—have shown no change in their average selling prices.
As the sun rose this Wednesday, the island's informal currency market remained stable, showing no fluctuations among the three major currencies, which are critical in Cuba's economic landscape.
At 7:00 a.m. on January 28, the US dollar continued to hold strong at 485 CUP, a rate it reached on Monday, as reported by the independent media outlet elTOQUE.
The euro, too, remains unaltered, trading again at 530 CUP today. The European currency has maintained a consistent rate throughout the week.
Meanwhile, the Freely Convertible Currency (MLC), which has seen frequent fluctuations recently, stands steady at 400 CUP today.
This temporary stability across the three key currencies comes amid a backdrop of escalating economic uncertainty in Cuba, exacerbated by a deepening energy crisis.
On Tuesday, former U.S. President Donald Trump reiterated his prediction that Cuba is teetering on the brink of collapse, citing the severe economic and energy dependence the Cuban regime has historically had on Venezuela.
Current Exchange Rates for January 28, 2026 - 7:23 a.m. in Cuba
According to elTOQUE, the exchange rates are as follows:
USD to CUP: 485 CUP
EUR to CUP: 530 CUP
MLC to CUP: 400 CUP
The Cuban Currency and Finance Observatory (OMFi) had projected an upward trend for January:
- Dollar: Central projection of 465 CUP (range between 454 and 480 CUP).
- Euro: Projection of 505 CUP (range between 479 and 515 CUP).
- MLC: Estimated around 427 CUP (range between 398 and 440 CUP).
As January draws to a close, the current values for the dollar and euro—at 485 CUP and 530 CUP respectively—have surpassed these forecasts, highlighting a market under pressure from uncertainty and skepticism towards the Cuban peso.
Currency Conversion Examples
The following conversions are based on the exchange rates of January 28:
USD to CUP:
- 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
EUR to CUP:
- 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
FAQ: Understanding Cuba's Currency Market
Why are the exchange rates in Cuba currently stable?
The current stability in exchange rates is likely due to temporary market conditions amid ongoing economic uncertainty and an energy crisis.
What factors influence the Cuban informal currency market?
Factors include economic policies, international relations, particularly with the U.S. and Venezuela, and the overall economic situation in Cuba.
How accurate are the currency projections by OMFi?
OMFi's projections are generally used as a guideline, but actual market conditions can lead to significant variations, as seen with the current rates exceeding projections.