The informal currency exchange market in Cuba is experiencing significant developments on January 13, with noticeable hikes in the values of both the dollar and euro.
Recently, the U.S. dollar has climbed to 470 CUP in Cuba's unofficial exchange sphere, as reported on Tuesday by the independent outlet elTOQUE. This marks a five-peso increase compared to the previous day's exchange rate.
The dollar has now been on an upward trajectory for five consecutive days in Cuba's informal market.
The euro, on the other hand, has risen to 505 CUP, also seeing an increase of five units from its earlier valuation.
These currency increases highlight a consistent upward trend since the beginning of 2026. This period aligns with the apprehension of Nicolás Maduro in Venezuela on January 3, which has stirred political tensions and economic instability throughout the region.
The rise occurs amid heightened warnings from Donald Trump concerning Cuba and his pursuit of a "deal" with the regime, as he announced last Sunday night. However, Díaz-Canel later refuted any ongoing "talks" with the U.S. administration.
As for the value of the Moneda Libremente Convertible (MLC), it remains steady at 400 CUP since last Friday.
With the current exchange rates as of January 13, the Cuban peso continues to lose ground against the dollar, amidst a new year fraught with political uncertainty, economic challenges, and the ongoing reduction of purchasing power on the island.
Exchange rates as of January 13, 2026 - 6:56 a.m. in Cuba:
USD to CUP rate according to elTOQUE: 470 CUP.
EUR to CUP rate according to elTOQUE: 505 CUP.
MLC to CUP rate according to elTOQUE: 400 CUP.
Conversion of U.S. Dollar (USD) to Cuban Peso (CUP) as per January 13 rates:
1 USD = 470 CUP.
5 USD = 2,350 CUP.
10 USD = 4,700 CUP.
20 USD = 9,400 CUP.
50 USD = 23,500 CUP.
100 USD = 47,000 CUP.
Conversion of Euro (EUR) to Cuban Peso (CUP):
1 EUR = 505 CUP.
5 EUR = 2,525 CUP.
10 EUR = 5,050 CUP.
20 EUR = 10,100 CUP.
50 EUR = 25,250 CUP.
100 EUR = 50,500 CUP.
Understanding Cuba's Currency Fluctuations
Why are the dollar and euro increasing in value in Cuba?
The increase in the dollar and euro values in Cuba is largely due to the political and economic instability in the region, particularly following Nicolás Maduro's arrest in Venezuela, which has disrupted the regional balance.
What is the impact of these currency fluctuations on the Cuban economy?
The rising value of foreign currencies against the Cuban peso leads to increased inflation and further reduces the purchasing power of Cuban citizens, exacerbating the existing economic challenges.
How are political relationships affecting Cuba's economy?
Political tensions, notably with the U.S., and internal challenges contribute to economic instability. Statements from leaders like Donald Trump indicating intentions to negotiate with Cuba create uncertainty, affecting currency stability.