Recently, one of the key foreign currencies in Cuba's informal market has experienced a remarkable surge in its street value.
The Freely Convertible Currency (FCC) has kicked off the week with a substantial climb, reaching a rate of 420 Cuban Pesos (CUP) this Monday, reflecting an eight CUP increase from the previous day, according to TOQUE's monitoring of the informal currency market.
This marks the second consecutive day of gains for the FCC, following a 12 CUP rise on Sunday, which saw it close at approximately 412 CUP.
At the beginning of last week, the FCC was hovering around 400 CUP.
Meanwhile, both the U.S. dollar and the euro remain stable on April 27, showing no changes in their values. The dollar holds steady at 530 CUP, and the euro at 600 CUP, both at their historical peaks in the informal market.
The dollar has been maintaining this record level for several days, a milestone reached last Tuesday after a single-day surge of four CUP. Similarly, the euro surpassed the 600 CUP mark on April 19 and has remained there since.
Exchange rates as of April 27, 2026, at 7:41 a.m. in Cuba are as follows: The dollar stands at 530 CUP, the euro at 600 CUP, and the FCC at 420 CUP, according to TOQUE.
The gap between these informal rates and the official rates is substantial. The Central Bank of Cuba sets the dollar at 494 CUP and the euro at 578.67 CUP, while the informal market exceeds these figures by over 35 and 20 CUP, respectively.
The Cuban Currency and Finance Observatory (OMfi) predicts that the dollar might close April at around 533 CUP, with a potential range reaching up to 590 CUP, and the euro at 604 CUP, indicating that the upward trend is not yet over.
The depreciation of the Cuban peso has deep structural causes that have intensified in 2026. The energy crisis, triggered by the halt in Venezuelan oil shipments and the suspension of Mexican supplies in January, has severely affected the already limited availability of foreign currency on the island.
Since 2020, the Cuban peso has plummeted, losing approximately 95% of its value against the dollar in the informal market, plummeting from 42 CUP per dollar to the current 530 CUP.
Over the last year alone, the U.S. currency has surged by 47.8%, climbing from 345 CUP in March 2025 to 530 CUP this past Monday.
Economist Pavel Vidal highlights that "the new Cuban economic program acknowledges the inflation-deficit-monetary issuance link, yet focuses on cuts without structural reforms for growth," suggesting that reversing the depreciation spiral in the short term is unlikely.
Equivalence of U.S. Dollar (USD) banknotes to Cuban Peso (CUP) based on April 27 exchange rates:
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.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
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.
Cuba's Informal Currency Market and Exchange Rates
What is the current exchange rate for the U.S. dollar in Cuba's informal market?
As of April 27, 2026, the U.S. dollar is valued at 530 Cuban Pesos (CUP) in Cuba's informal market.
How has the Cuban peso's value changed against the dollar since 2020?
Since 2020, the Cuban peso has lost approximately 95% of its value against the dollar in the informal market, dropping from 42 CUP per dollar to 530 CUP.
What are the official exchange rates set by the Central Bank of Cuba?
The Central Bank of Cuba sets the official exchange rate for the dollar at 494 CUP and the euro at 578.67 CUP.
What factors have contributed to the Cuban peso's depreciation?
The depreciation is largely due to structural issues exacerbated by the energy crisis from halted Venezuelan oil shipments and the suspension of Mexican supplies, affecting foreign currency availability.