This Sunday, a significant shift occurred in Cuba's informal currency market as the euro soared to 565 Cuban pesos (CUP), establishing a new all-time high in the current exchange cycle.
Breaking past the 560 CUP mark, the European currency had held steady at this level since mid-February.
Current Exchange Rates in Cuba
Exchange rates as of Sunday, February 22, 2026 - 06:00 AM:
- US Dollar (USD) to Cuban Pesos (CUP): 505 CUP
- Euro (EUR) to Cuban Pesos (CUP): 565 CUP
- Freely Convertible Currency (MLC) to Cuban Pesos (CUP): 400 CUP
The US dollar remains at 505 CUP, solidifying the record it recently broke, indicating the market's acceptance of this new norm. Meanwhile, the Freely Convertible Currency (MLC) has dropped to 400 CUP, a decrease of ten pesos from the previous day.
Analysis of Euro's Recent Trends
Examining the euro's behavior over the past month reveals a stepwise upward trajectory.
At the end of January, the currency hovered around the lower 520 CUP range with only moderate changes. Initially, February saw minor fluctuations, but a more notable increase occurred in the second week as the euro settled around 550 CUP.
Since February 12, the euro stayed anchored at 560 CUP, reflecting a temporary balance between supply and demand. However, the recent upward movement confirms the fleeting nature of that stability.
Implications of Euro's New Peak
The graph from the last month illustrates a clear dynamic: gradual increases followed by brief consolidation phases. These aren't sharp daily spikes but rather steady advances that continually redefine the market's reference point. The current jump fits this pattern.
Practically, the euro's new peak heightens pressure on the Cuban peso, reinforcing perceptions of structural depreciation. Each new high not only raises currency costs but also affects expectations: merchants, informal importers, and families adjust prices and decisions, anticipating further changes.
As the dollar holds its record and the euro sets a new one, the parallel market indicates that the underlying trend remains upward. The apparent calm of previous days has given way to a new milestone, confirming that exchange rate tension continues to dictate the rhythm of daily economic life on the island.
FAQ: Cuba's Informal Currency Market
What is the current exchange rate of the euro in Cuba's informal market?
As of February 22, 2026, the euro's exchange rate in Cuba's informal market is 565 CUP.
How has the euro's exchange rate changed recently?
The euro's exchange rate has seen a gradual increase, breaking the 560 CUP mark and reaching a new high of 565 CUP in the informal market.
What impact does the euro's increase have on Cuba's economy?
The rise in the euro's value increases pressure on the Cuban peso, influencing prices and economic decisions for merchants and families expecting further currency movements.