This past Saturday, the informal currency market in Cuba witnessed new peaks as the U.S. dollar climbed to 558 CUP, three pesos higher than on Friday, when it had already reached an all-time high of 555 CUP.
The rising value of the American currency underscores the increasing pressure on the Cuban peso amidst inflation, scarcity, and a widespread lack of confidence in the nation's government-run economy.
Simultaneously, the euro has also appreciated, now trading at 635 CUP, matching its record value from May 20. On Friday, it was at 630 CUP, experiencing a slight dip in the Cuban black market, but it has since returned to its peak.
The European currency's upward trend is driven by strong demand in the informal market and the desire of many Cubans to safeguard their savings against the relentless depreciation of the CUP.
Additionally, the MLC (Moneda Libremente Convertible) saw an increase, reaching 412 CUP after closing at 400 CUP on Friday. This 12-peso jump in just 24 hours highlights the growing economic uncertainty and the high demand for foreign currency in Cuba.
Informal Exchange Rates in Cuba
Saturday, May 23, 2026 - 06:00
Exchange rate of the U.S. dollar (USD) to Cuban pesos (CUP): 558 CUP
Exchange rate of the euro (EUR) to Cuban pesos (CUP): 635 CUP
Exchange rate of the MLC to Cuban pesos (CUP): 412 CUP
Currency to Cuban Pesos (CUP) Conversion
U.S. Dollar (USD) – 558 CUP
1 USD = 558 CUP
5 USD = 2,790 CUP
10 USD = 5,580 CUP
20 USD = 11,160 CUP
50 USD = 27,900 CUP
100 USD = 55,800 CUP
Euro (EUR) – 635 CUP
5 EUR = 3,175 CUP
10 EUR = 6,350 CUP
20 EUR = 12,700 CUP
50 EUR = 31,750 CUP
100 EUR = 63,500 CUP
200 EUR = 127,000 CUP
500 EUR = 317,500 CUP
Understanding Cuba's Currency Crisis
Why is the U.S. dollar increasing in value in Cuba?
The U.S. dollar is rising in value due to inflation, scarcity of goods, and a lack of confidence in Cuba's state-controlled economy, leading to higher demand in the black market.
What is causing the euro to appreciate in Cuba?
The euro's appreciation is driven by strong demand in the informal market and the need for Cubans to protect their savings from the continuous devaluation of the Cuban peso.
How does the MLC affect the Cuban economy?
The MLC, or Moneda Libremente Convertible, affects the economy by reflecting the high demand for convertible currency, impacting the overall economic uncertainty and exchange rates.