In recent hours, both the euro and the Freely Convertible Currency (MLC) have partially rebounded from the significant drop they experienced in the previous trading session.
Meanwhile, the dollar remains steady at 510 CUP, a record high it reached 10 days ago.
As of 7:00 a.m. local time on Monday, the euro has risen to 575 CUP, regaining 10 of the 15 pesos it lost the previous day, according to the independent media outlet elTOQUE's daily report.
The MLC has also increased, climbing to 400 CUP, recovering all 15 pesos it had lost on Monday.
In a scenario marked by persistent inflation, low state wages, and increasing partial dollarization of the economy, the informal currency market directly impacts domestic prices and the purchasing power of Cubans.
Exchange rates as of 10/03/2026 - 7:22 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 510 CUP.
Exchange rate of the EUR to CUP according to elTOQUE: 575 CUP.
Exchange rate of the MLC to CUP according to elTOQUE: 400 CUP.
The rates published by elTOQUE have become a vital indicator for gauging the real evolution of the Cuban peso against foreign currencies, in a context 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 that prevail in everyday transactions.
The gap between the official and informal rates reflects the ongoing shortage of foreign currency in the state banking system and the high demand for dollars and euros by the population. This demand stems from needs such as emigration, importing goods, safeguarding savings, or purchasing in the private sector.
Adding to this is the so-called “floating” exchange rate, which, despite being introduced as a more flexible mechanism since mid-December, still sits far from the informal rate and fails to meet the real currency demands of the population.
Current Exchange Equivalencies
Equivalence of United States Dollar (USD) bills to Cuban Peso (CUP), based on exchange rates for March 10:
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.
Equivalence of Euro (EUR) bills to Cuban Peso (CUP):
1 EUR = 575 CUP.
5 EUR = 2,875 CUP.
10 EUR = 5,750 CUP.
20 EUR = 11,500 CUP.
50 EUR = 28,750 CUP.
100 EUR = 57,500 CUP.
200 EUR = 115,000 CUP.
500 EUR = 287,500 CUP.
Understanding Cuba's Currency Challenges
Why is there a gap between the official and informal exchange rates in Cuba?
The gap arises due to a persistent shortage of foreign currency in the state banking system and a high demand for dollars and euros among the population for various needs such as emigration, importing goods, and safeguarding savings.
What factors contribute to the fluctuations in Cuba's informal currency market?
Fluctuations are influenced by persistent inflation, low state wages, and the increasing partial dollarization of the economy, which collectively affect domestic prices and purchasing power.
How reliable are the exchange rates published by elTOQUE?
The exchange rates published by elTOQUE are widely considered a key indicator for assessing the real value of the Cuban peso against foreign currencies, reflecting more accurately the rates that prevail in daily transactions.