The informal currency market in Cuba opened this Saturday without any changes from the previous day, but with a clear signal: the U.S. dollar has solidified its new level after breaking through the 500 Cuban pesos (CUP) barrier.
According to the reference rate published by the independent outlet elTOQUE, the U.S. dollar (USD) remains at 505 CUP, the euro (EUR) holds steady at 560 CUP, and the Freely Convertible Currency (MLC) stays at 410 CUP.
Current Exchange Rates in Cuba
As of Saturday, February 21, 2026, the exchange rate for the dollar (USD) to Cuban pesos is 505 CUP, for the euro (EUR) it is 560 CUP, and for the MLC, it stands at 410 CUP. The stability at 505 CUP confirms that Friday's increase was not an isolated occurrence. After being stuck at 500 CUP for ten consecutive days, the dollar jumped by five pesos and is now maintaining this new threshold without immediate retreat.
This behavior strengthens the hypothesis of renewed buying pressure in the parallel market. Although the increase has been moderate, the consolidation at a higher level suggests that the market is once again redefining the value of the Cuban peso.
The Euro and MLC's Position
The euro, on the other hand, remains at its recent peak of 560 CUP, establishing itself as the most expensive currency on the island. While the European currency hasn't mirrored the dollar's upward movement in the last 48 hours, it remains at the highest end of the current exchange cycle.
The MLC shows a pattern of contained fluctuations. After weeks of moving between 400 and 420 CUP, it holds steady at 410 CUP today, without impacting the rest of the market.
Economic Context and Market Outlook
This scenario unfolds amid an economic backdrop marked by persistent inflation, a scarcity of foreign currency, and the limited capacity of the state banking system to meet demand.
The gap with the so-called floating rate from the Central Bank continues to be wide, keeping the informal market as the primary indicator of the real economy.
For now, the dollar has not corrected, and the euro hasn't retreated. The market shows no signs of panic, but neither does it offer relief. The persistence at 505 CUP could signal the start of a new upward phase or the consolidation of a higher step within an ongoing depreciation process that continues unabated.
Frequently Asked Questions About Cuba's Currency Market
What is the current exchange rate for the U.S. dollar in Cuba's informal market?
As of February 21, 2026, the exchange rate for the U.S. dollar in Cuba's informal market is 505 Cuban pesos (CUP).
Why is the informal currency market important in Cuba?
The informal currency market is crucial in Cuba because it serves as the main indicator of the real economy, especially given the wide gap with the official Central Bank rates and the scarcity of foreign currency.