This January 7, Cuba's informal currency market witnesses a notable shift with both the dollar and euro experiencing a price hike.
The American dollar strengthens its upward trajectory for the fourth consecutive day.
Recently, the dollar climbed to 450 CUP in Cuba's unofficial exchange market, as reported by the independent outlet, elTOQUE. This marks a two-peso increase from its prior value.
The rising trend follows the arrest of Nicolás Maduro in Venezuela, an event that has triggered political tension and economic instability across the region, directly impacting currency rates on the island.
As for the euro, it made a significant leap of five pesos, positioning itself at 490 CUP.
With Wednesday's informal market rates, the Cuban peso further depreciates against foreign currencies, starting the year amidst uncertainty and diminishing purchasing power.
The growing value of dollars and euros highlights the increasing lack of faith in the Cuban peso (CUP) and a citizen-driven shift toward stronger currencies amid economic and political unpredictability.
Social media users have linked the dollar's rise to regional anxiety following events in Caracas and the potential reevaluation of bilateral ties between Havana and its energy ally, a major oil supplier to the regime.
The Moneda Libremente Convertible (MLC), however, remains stable, valued at 400 CUP.
Exchange rates on January 7, 2026, at 6:45 a.m. in Cuba are as follows:
According to elTOQUE:
USD to CUP: 450 CUP.
EUR to CUP: 490 CUP.
MLC to CUP: 400 CUP.
Conversion from U.S. Dollar (USD) to Cuban Peso (CUP) based on today's rates:
1 USD = 450 CUP.
5 USD = 2,250 CUP.
10 USD = 4,500 CUP.
20 USD = 9,000 CUP.
50 USD = 22,500 CUP.
100 USD = 45,000 CUP.
Conversion from Euro (EUR) to Cuban Peso (CUP):
1 EUR = 490 CUP.
5 EUR = 2,450 CUP.
10 EUR = 4,900 CUP.
20 EUR = 9,800 CUP.
50 EUR = 24,500 CUP.
100 EUR = 49,000 CUP.
200 EUR = 98,000 CUP.
Understanding Cuba's Currency Market Dynamics
What is causing the increase in the dollar and euro prices in Cuba?
The rise in dollar and euro prices in Cuba's informal market is largely due to regional political instability, particularly after the arrest of Nicolás Maduro in Venezuela, which has affected economic conditions across the area.
How does the informal market affect the Cuban economy?
The informal market influences the Cuban economy by dictating currency exchange rates that reflect the real demand and supply, often highlighting the lack of confidence in the national currency and prompting citizens to seek more stable foreign currencies.