According to the independent outlet elTOQUE, the exchange rates for the three key currencies in Cuba have remained unchanged in recent hours.
On this Wednesday, the informal currency market in Cuba continues to show no fluctuations, resulting in a stable day for the dollar, the euro, and the Freely Convertible Currency (MLC).
As of 7:00 a.m. on February 4, the dollar holds steady at 490 CUP, the rate it reached the previous day.
The euro also remains unchanged, still trading at 535 CUP today.
Meanwhile, the MLC stays at 400 CUP, a rate this digital currency has consistently maintained over recent weeks.
These stable figures highlight the widespread distrust in the national currency and the increasing dollarization of the informal economy, where access to foreign currency determines the real purchasing power of Cubans.
In markets and social media, the dollar and euro have become safe havens in the face of inflation and the ongoing erosion of the CUP's purchasing power.
Current Exchange Rates in Cuba
Exchange rates as of 7:15 a.m. on February 4, 2026, in Cuba:
Dollar (USD) to CUP rate according to elTOQUE: 490 CUP.
Euro (EUR) to CUP rate according to elTOQUE: 535 CUP.
MLC to CUP rate according to elTOQUE: 400 CUP.
The informal exchange rate in Cuba continues to dictate the economic reality of the nation, far exceeding the official value maintained by the regime.
The "floating rate" introduced for the dollar and euro in mid-December 2025 has failed to affect the actual course of the informal currency market.
The weakness of the Cuban peso results from a combination of structural factors: an inefficient state-run economy, collapsed national production, lack of foreign investment, and repression of the private sector.
The most visible consequence is the rapid impoverishment of the population: salaries in pesos barely cover a fraction of basic needs, while essential goods—like food, medicine, and fuel—are sold in foreign currency or at prohibitive prices.
This gap between the peso and stronger currencies not only indicates a severe economic crisis but also a complete loss of credibility in Cuba's financial system.
Currency Conversion: Dollar and Euro to Cuban Peso
U.S. Dollar (USD) to Cuban Peso (CUP) conversion based on February 4 exchange rates:
1 USD = 490 CUP.
2 USD = 980 CUP.
5 USD = 2,450 CUP.
10 USD = 4,900 CUP.
20 USD = 9,800 CUP.
50 USD = 24,500 CUP.
100 USD = 49,000 CUP.
Euro (EUR) to Cuban Peso (CUP) conversion:
1 EUR = 535 CUP.
5 EUR = 2,675 CUP.
10 EUR = 5,350 CUP.
20 EUR = 10,700 CUP.
50 EUR = 26,750 CUP.
100 EUR = 53,500 CUP.
FAQs on Cuba's Currency Exchange Market
Why are the exchange rates in Cuba's informal market higher than official rates?
The informal market rates are higher due to the lack of confidence in the national currency and the inefficiency of the government's economic policies, which do not reflect the true demand for foreign currency.
What factors contribute to the strength of the dollar and euro in Cuba?
The dollar and euro are seen as more stable compared to the Cuban peso, especially given the high inflation and weakening of the peso. This makes them preferred options for preserving value.
How does the informal exchange rate affect everyday life in Cuba?
The high informal exchange rate limits the purchasing power of ordinary Cubans, as many goods are priced in foreign currencies, making basic necessities increasingly unaffordable.