This Monday, Cuba's informal currency market starts the week steadily, with no changes from the previous session.
For now, the dollar holds its value at 510 CUP, as reported over the weekend by the independent outlet elTOQUE.
Meanwhile, at 6:00 a.m. local Cuban time on March 2, the euro remains steady at 570 CUP.
The Freely Convertible Currency (MLC) continues to average a sale price of 410 CUP.
Exchange Rates as of March 2, 2026 - 6:45 a.m. in Cuba
The exchange rate for USD to CUP according to elTOQUE is 510 CUP.
The exchange rate for EUR to CUP is 570 CUP, according to elTOQUE.
For the MLC to CUP, elTOQUE reports a rate of 410 CUP.
Rates provided by elTOQUE have become a crucial benchmark for gauging the true state of the Cuban peso against foreign currencies. This is especially relevant in a setting where the official exchange rate (1 USD = 24 CUP for legal entities and 1 USD = 120 CUP in the state exchange market) remains significantly lower than the rates observed in everyday transactions.
Adding to the complexity is the so-called "floating" exchange rate, which was introduced as a more adaptable mechanism since mid-December. However, it still lags far behind the informal rates and fails to meet the real demand for foreign currency among the population.
The gap between official and informal rates underscores the persistent shortage of foreign currency in the state banking system and the high demand for dollars and euros among Cubans. These currencies are sought for purposes such as emigration, importing goods, safeguarding savings, or making purchases in the private sector.
In an environment of ongoing inflation, low state salaries, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts domestic prices and the purchasing power of Cubans.
Conversion Rates: USD to Cuban Peso (CUP)
1 USD = 510 CUP.
5 USD = 2,550 CUP.
10 USD = 5,100 CUP.
20 USD = 10,200 CUP.
50 USD = 25,500 CUP.
100 USD = 51,000 CUP.
Conversion Rates: Euro to Cuban Peso (CUP)
1 EUR = 570 CUP.
5 EUR = 2,850 CUP.
10 EUR = 5,700 CUP.
20 EUR = 11,400 CUP.
50 EUR = 28,500 CUP.
100 EUR = 57,000 CUP.
200 EUR = 114,000 CUP.
500 EUR = 285,000 CUP.
Key Questions on Cuba's Currency Market
Why is there such a large gap between official and informal exchange rates in Cuba?
The gap is primarily due to the shortage of foreign currency in the state's banking system and the high demand for dollars and euros among the Cuban population.
How does the informal currency market affect Cubans' purchasing power?
Fluctuations in the informal market directly influence domestic prices and impact the purchasing power of Cubans, especially in a context of inflation and low state wages.
What role does the "floating" exchange rate play in Cuba's currency market?
The "floating" exchange rate was intended as a more flexible mechanism, but it remains significantly different from the informal rate and does not meet the actual demand for foreign currency.