Euro Reaches Record 570 CUP in Cuba: The Peso Continues Its Fall

The informal foreign exchange market in Cuba has been shaken again this Monday, February 23, 2026. According to daily monitoring reports, the Euro has reached the record figure of 570 Cuban pesos (CUP), consolidating a bullish trend that seems to have no ceiling in the short term.

An Unstoppable Rise

In just 24 hours, the European currency climbed 5 pesos, distancing itself from the US Dollar, which for now remains stable at 505 CUP. This new Euro mark reflects the desperation of savers and travelers to acquire hard currencies in a scenario of chronic shortage and lack of confidence in the national currency.

Meanwhile, the MLC (Moneda Libremente Convertible) also experienced an increase, standing at 410 CUP. The gap between the different exchange rates continues to widen, further complicating access to basic products for the majority of the population who receive their salaries solely in Cuban pesos.

Impact on Family Economy

The rise of foreign currencies in the informal market—which is what actually governs street prices in Cuba—immediately translates into an increase in the cost of living. Food, medicine, and services that depend on informal imports or inputs purchased abroad see their prices inflated at the rate dictated by the Euro and the Dollar.

Experts and market observers suggest that as long as there are no profound structural reforms or a real injection of foreign currency into the official banking system (where the rate remains well below market reality), the devaluation of the peso will continue to set new records week after week.

For Cubans on the island, this February 23 marks another chapter in the purchasing power crisis, where 570 pesos are now only enough to buy a single Euro—a figure that just a year ago seemed unthinkable.