The exchange rate for the U.S. dollar (USD) in Cuba's informal market stands at 515 CUP, according to elTOQUE's benchmark as of March 19.
Although the dollar slightly dipped to 513 CUP on Wednesday, it regained its value by Thursday, maintaining its strength on the island. This comes as the Cuban peso continues to lose its purchasing power against major foreign currencies.
On the other hand, the Euro (EUR) has climbed to 580 CUP, surpassing the dollar as the strongest currency. This marks a new record in Cuba’s black market for the euro, exceeding its previous value of 579 CUP from March 16.
The European currency remains in high demand among those seeking to safeguard their earnings against the devaluation of the Cuban peso and the limitations imposed by the national financial system.
MLC and Its Role in Cuban Economy
The MLC (Freely Convertible Currency) is currently valued at 410 CUP. While it is priced lower than both the dollar and the euro, the MLC is still a crucial element in the Cuban economy, particularly for purchases in state-run stores that transact exclusively in this currency.
Current Informal Exchange Rates in Cuba
As of Thursday, March 19, 2026 - 09:16, the informal exchange rates are as follows:
- USD to CUP: 515 CUP
- EUR to CUP: 580 CUP
- MLC to CUP: 410 CUP
Conversion Equivalents in Cuba's Informal Market
Based on current rates, the following are the equivalent values for bills in the informal market:
- U.S. Dollar (1 USD = 515 CUP)
- 1 USD → 515 CUP
- 5 USD → 2,575 CUP
- 10 USD → 5,150 CUP
- 20 USD → 10,300 CUP
- 50 USD → 25,750 CUP
- 100 USD → 51,500 CUP
- Euro (1 EUR = 580 CUP)
- 5 EUR → 2,900 CUP
- 10 EUR → 5,800 CUP
- 20 EUR → 11,600 CUP
- 50 EUR → 29,000 CUP
- 100 EUR → 58,000 CUP
- 200 EUR → 116,000 CUP
- 500 EUR → 290,000 CUP
Understanding Cuba's Informal Currency Market
Why is the euro surpassing the dollar in Cuba's informal market?
The euro's rise in value is driven by high demand from those seeking to protect their wealth against the devaluation of the Cuban peso and the country's financial system limitations.
What is the significance of MLC in the Cuban economy?
The MLC is vital for transactions in state-owned stores that only operate with this currency, making it an important reference point despite its lower value compared to the dollar and euro.