This January 12th marks another day of rising dollar prices in Cuba's informal currency market, as the American dollar continues to climb for the fourth straight day.
Recently, the value of the U.S. dollar reached 465 CUP in Cuba's informal exchange, according to rates from the independent source, elTOQUE. This indicates an increase of five pesos compared to the previous day's figure.
This upward trend in foreign currency values follows the detention of Nicolás Maduro in Venezuela on January 3rd, triggering political tension and economic instability throughout the region.
Moreover, this rise occurs amid escalating warnings from Donald Trump about Cuba and his pursuit of a "deal" with the regime, as he announced this past Sunday evening.
In recent days, the U.S. president has repeatedly stated that Cuba is headed for "failure" without Venezuela, urging the island to heed the evolving circumstances as a cautionary tale.
As for the euro, the European currency remains steady at 500 CUP in Cuba as of Monday, the same rate reached on Saturday.
Meanwhile, the Freely Convertible Currency (MLC) has stayed stable at 400 CUP since Friday.
With the informal market rates on January 12th, the Cuban peso continues its decline against the dollar, marking the start of a year overshadowed by political and economic uncertainty, alongside the persistent erosion of purchasing power on the island.
The dollar's increasing value highlights the growing distrust in the Cuban peso (CUP) and the citizens' inclination to seek refuge in stronger currencies amidst the looming economic and political uncertainties in the country.
Exchange Rates as of 01/12/2026 - 6:56 a.m. in Cuba:
USD to CUP exchange rate according to elTOQUE: 465 CUP.
EUR to CUP exchange rate according to elTOQUE: 500 CUP.
MLC to CUP exchange rate according to elTOQUE: 400 CUP.
U.S. Dollar (USD) to Cuban Peso (CUP) Exchange Equivalences, as of January 12:
- 1 USD = 465 CUP.
- 5 USD = 2,325 CUP.
- 10 USD = 4,650 CUP.
- 20 USD = 9,300 CUP.
- 50 USD = 23,250 CUP.
- 100 USD = 46,500 CUP.
Euro (EUR) to Cuban Peso (CUP) Exchange Equivalences:
- 1 EUR = 500 CUP.
- 5 EUR = 2,500 CUP.
- 10 EUR = 5,000 CUP.
- 20 EUR = 10,000 CUP.
- 50 EUR = 25,000 CUP.
- 100 EUR = 50,000 CUP.
Understanding Cuba's Current Economic Climate
Why is the dollar gaining value in Cuba?
The dollar is gaining value due to political instability following Nicolás Maduro's capture in Venezuela, coupled with increased warnings from Donald Trump regarding Cuba's economic future.
What are the current exchange rates for major currencies in Cuba?
As of January 12, the exchange rate is 465 CUP for 1 USD, 500 CUP for 1 EUR, and the MLC remains at 400 CUP.
How does the political climate affect currency value in Cuba?
Political events, such as the situation in Venezuela and statements from U.S. leaders, can influence economic stability and currency values by affecting investor confidence and market perceptions.