For the second consecutive day, Cuba's informal currency market remains unchanged this Friday, as reported by the daily monitoring from elToque.
The U.S. dollar holds steady at its record high of 530 CUP; the euro remains at 600 CUP for the sixth day in a row, and the Freely Convertible Currency (MLC) stays at 400 CUP for the third consecutive day.
This period solidifies the record values reached during a fortnight in which the Cuban peso has experienced continuous depreciation.
The dollar has been stable at 530 CUP for three days, a level reached on April 22.
Meanwhile, the euro remains at 600 CUP, a threshold it hit on Sunday, April 19, marking a historic milestone for the European currency in Cuba.
The MLC is currently valued at 400 CUP after fluctuating between 385 and 400 pesos in recent days.
Exchange Rates as of April 23, 2026, 8:22 a.m. in Cuba
According to elToque, the dollar to CUP exchange rate is 530 CUP.
The euro to CUP rate is 600 CUP.
The MLC to CUP rate is 400 CUP.
The Cuban Currency and Financial Observatory had projected that by the end of April, the dollar would reach 533 CUP, with a variation range between 503 and 590 CUP, indicating that the upward trend is not yet over.
For the euro, the likely scenario points to 604 CUP, with a range from 574 to 640 CUP.
The exchange rate crisis is rooted in the failed 2021 monetary reform known as "Tarea Ordenamiento," which aimed to eliminate the dual currency but led to severe inflationary distortions.
Since 2020, the Cuban peso has lost approximately 95% of its value against the dollar in the informal market, plunging from 42 CUP per dollar to the current 530 CUP.
In the last year alone, the dollar rose by 47.8%, climbing from 345 CUP in March 2025 to 510 CUP in March 2026.
The accelerated depreciation during 2026 is attributed to the energy crisis caused by halted fuel shipments from Venezuela and Mexico, a decline in tourism, and the shortage of foreign currency in the official banking system. These factors have increased the demand for foreign currency for everyday transactions among Cubans.
USD to CUP Conversion Rates on April 24
1 USD = 530 CUP.
5 USD = 2,650 CUP.
10 USD = 5,300 CUP.
20 USD = 10,600 CUP.
50 USD = 26,500 CUP.
100 USD = 53,000 CUP.
EUR to CUP Conversion Rates
1 EUR = 600 CUP.
5 EUR = 3,000 CUP.
10 EUR = 6,000 CUP.
20 EUR = 12,000 CUP.
50 EUR = 30,000 CUP.
100 EUR = 60,000 CUP.
200 EUR = 120,000 CUP.
500 EUR = 300,000 CUP.
Understanding Cuba's Currency Exchange Situation
Why is the Cuban peso depreciating so rapidly?
The rapid depreciation of the Cuban peso is primarily due to the energy crisis from halted fuel shipments, a decline in tourism, and a shortage of foreign currency in the banking system, increasing the demand for foreign currency among Cubans.
What was the "Tarea Ordenamiento" reform?
"Tarea Ordenamiento" was a monetary reform in 2021 aimed at eliminating the dual currency system in Cuba. However, it resulted in significant inflationary distortions and did not achieve its intended goals.
What are the current exchange rates for USD and EUR in Cuba?
As of April 23, 2026, the exchange rate for USD is 530 CUP, and for EUR, it is 600 CUP, according to elToque.