This Friday, the informal currency market in Cuba has seen a notable shift: the price of the U.S. dollar has inched upward once more.
Recently, the American currency has regained its peak value of 508 CUP, a high it reached earlier this week but lost on Thursday, when it dipped to 507 CUP.
Meanwhile, as of 6:00 a.m. local time on Wednesday, the euro remains steady at 570 CUP, according to the reference rate shared by independent outlet elTOQUE.
The MLC, on the other hand, has maintained a rate of 405 CUP for four consecutive days, holding this value since February 24.
Current Exchange Rates as of February 27, 2026 - 6:36 a.m. in Cuba
According to elTOQUE, the exchange rate for the U.S. dollar is 508 CUP.
The exchange rate for the euro is 570 CUP, while the MLC is at 405 CUP.
The rates provided by elTOQUE have become a crucial indicator for understanding the real dynamics of the Cuban peso against foreign currencies. This comes at a time when the official exchange rates (1 USD = 24 CUP for legal entities and 1 USD = 120 CUP in the state currency market) remain significantly below practical values.
Moreover, the so-called "floating" exchange rate, which was introduced as a more adaptable system in mid-December, still lags far behind the informal market rates, failing to meet the population's genuine demand for foreign currency.
The gap between the official and informal exchange rates highlights the ongoing shortage of foreign currency within the state banking system and the high demand among Cubans for dollars and euros, whether for emigration, importing goods, safeguarding savings, or shopping in the private sector.
In the context of persistent inflation, low state salaries, and an increasing partial dollarization of the economy, fluctuations in the informal market directly affect domestic prices and the purchasing power of Cubans.
Conversion Rates for U.S. Dollars (USD) to Cuban Pesos (CUP) as of February 27
1 USD = 508 CUP.
5 USD = 2,540 CUP.
10 USD = 5,080 CUP.
20 USD = 10,160 CUP.
50 USD = 25,400 CUP.
100 USD = 50,800 CUP.
Conversion Rates for Euros (EUR) to Cuban Pesos (CUP)
1 EUR = 570 CUP.
5 EUR = 2,850 CUP.
10 EUR = 5,700 CUP.
20 EUR = 11,400 CUP.
50 EUR = 28,500 CUP.
100 EUR = 57,000 CUP.
200 EUR = 114,000 CUP.
500 EUR = 285,000 CUP.
Understanding Cuba's Informal Currency Market
Why are the informal exchange rates in Cuba so different from the official rates?
The disparity between informal and official exchange rates in Cuba is largely due to the shortage of foreign currency in the state banking system, coupled with high public demand for dollars and euros. This demand arises from needs such as emigration, importing goods, and private sector purchases, which are not adequately met by the official rates.
How does the informal currency market impact Cuban citizens?
The fluctuations in the informal currency market directly affect the cost of living in Cuba, as changes in exchange rates influence internal prices and the purchasing power of the population. In a context of ongoing inflation and low state wages, these shifts can significantly impact the economic well-being of citizens.