Over the past few hours, the euro has seen a significant price hike in Cuba's unofficial currency market.
As of 7:00 a.m. on February 5th, the euro has reached 540 CUP, as reported by the independent outlet elTOQUE. This marks an increase of five pesos from the previous day.
Meanwhile, the dollar remains steady today, continuing to trade at 490 CUP.
The Freely Convertible Currency (MLC), on the other hand, holds its position at 400 CUP for the third consecutive day, a figure that has become a stable benchmark for this digital currency in recent weeks.
These numbers highlight the persistent lack of confidence in the Cuban peso and the ongoing dollarization of the informal economy, where access to foreign currencies significantly influences the actual purchasing power of citizens.
The dollar and euro, in particular, have emerged as safe havens against inflation and the continuous erosion of the CUP's purchasing power.
Current Exchange Rates: February 5, 2026
At 7:35 a.m. in Cuba, the exchange rates reported by elTOQUE are as follows:
USD to CUP: 490 CUP
EUR to CUP: 540 CUP
MLC to CUP: 400 CUP
The informal exchange rate in Cuba continues to set the economic reality of the country, far exceeding the official value maintained by the regime.
Moreover, the "floating rate" for the dollar and euro, implemented by the government in mid-December 2025, has failed to address or impact the actual dynamics of the informal currency market.
The Cuban peso's weakness stems directly from a combination of structural factors: an inefficient state-run economy, a collapsed national production, the absence of foreign investment, and suppression of the private sector.
The most visible outcome is the rapid impoverishment of the population: salaries in pesos barely cover a fraction of basic needs, while essential goods—such as food, medicine, and fuel—are traded in foreign currencies or at exorbitant prices.
This disparity between the peso and stronger currencies not only underscores a severe economic crisis but also signifies a complete loss of trust in the Cuban financial system.
USD to CUP Conversion Rates
According to the exchange rates on February 5th:
- 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
EUR to CUP Conversion Rates
- 1 EUR = 540 CUP
- 5 EUR = 2,700 CUP
- 10 EUR = 5,400 CUP
- 20 EUR = 10,800 CUP
- 50 EUR = 27,000 CUP
- 100 EUR = 54,000 CUP
- 200 EUR = 108,000 CUP
- 500 EUR = 270,000 CUP
Understanding Cuba's Informal Currency Market
Why is the euro experiencing a price surge in Cuba's informal market?
The euro is experiencing a price surge due to a lack of confidence in the Cuban peso and increased dollarization in the economy, where foreign currencies are preferred for their stability.
What is the current exchange rate for the US dollar in Cuba's informal market?
As of February 5, 2026, the exchange rate for the US dollar in the informal market is 490 CUP.
What factors contribute to the weakness of the Cuban peso?
The Cuban peso's weakness is attributed to an inefficient state-run economy, a collapsed national production, lack of foreign investment, and repression of the private sector.