As of Friday morning, Cuba's informal foreign exchange market continues to reflect a trend rather than a temporary fluctuation: the US dollar remains at an unprecedented 500 Cuban pesos (CUP) for the fourth consecutive day.
The US currency has solidified its record-breaking value this week, establishing a new benchmark in the parallel market. This raises the question of whether this level is here to stay or merely a fleeting surge.
According to data from the independent observatory elTOQUE, the euro (EUR) is also holding its recent high at 560 CUP, while the Freely Convertible Currency (MLC) has dropped five pesos, settling at 400 CUP after fluctuating between 405 and 410 in previous sessions.
Exchange Rates Hold Steady Amid Economic Challenges
On Friday, February 13, 2026, at 5:24 AM, the informal exchange rates in Cuba are as follows:
- USD to Cuban pesos (CUP): 500 CUP
- EUR to Cuban pesos (CUP): 560 CUP
- MLC to Cuban pesos (CUP): 400 CUP
The key takeaway is not the minimal daily changes, but the remarkable stability at historically high levels. The US dollar not only breached the psychological barrier of 500 CUP earlier in the week but has maintained that value without notable corrections, suggesting that the market has embraced this new threshold as a standard reference point.
The euro continues to assert its strength as the dominant currency in the Cuban informal market. Its rate of 560 CUP widens the gap with the dollar, indicating a persistent demand that has been accumulating over recent weeks.
Economic Turmoil and Currency Stability
This trend emerges amid ongoing challenges, including a chronic energy crisis, rampant inflation, and a shortage of foreign currency liquidity. Despite the Central Bank of Cuba's recent efforts to accelerate adjustments to its so-called "floating rate," the disparity with the informal market remains substantial, limiting the tangible impact of official exchange rate policies.
Unlike previous episodes of abrupt volatility, the current situation does not exhibit signs of panic but rather structural consolidation. The market shows no signs of correction, retreat, or extreme fluctuations; it simply stabilizes at a higher level.
Effectively, the record high has transitioned from a noteworthy event to a standard occurrence. With the dollar anchored at 500 CUP and the euro at 560, the Cuban peso's persistent decline continues to erode the cost of living and purchasing power for millions of Cubans.
FAQs on Cuba's Currency Market Dynamics
Why has the US dollar reached a record high in Cuba's informal market?
The US dollar has reached a record high due to a combination of factors, including the enduring economic crisis in Cuba, inflation, and a shortage of foreign currency liquidity. The market has adjusted to these new economic realities by setting higher thresholds for currency exchange rates.
How does the current exchange rate affect the Cuban economy?
The higher exchange rate impacts the Cuban economy by increasing the cost of imports, thereby raising the overall cost of living and reducing the purchasing power of Cubans. This creates additional pressure on an already strained economy.
What is the role of the euro in Cuba's informal market?
The euro plays a crucial role in Cuba's informal market as a strong and stable currency. Its rate of 560 CUP reflects a sustained demand, making it a preferred option for many, further increasing its value compared to the US dollar.