The informal foreign currency market in Cuba remains the real thermometer of the island’s economy. This Friday, March 13, 2026, reports indicate a tense stability in the price of the dollar, while the Euro and the MLC show slight variations that keep citizens on edge.

Exchange Rates Today (March 13)

According to daily monitoring by platforms like elTOQUE, these are the current representative rates:

US Dollar (USD): 510 CUP (Stable for 13 consecutive days)
Euro (EUR): 570 CUP (Slight adjustment after recent increases)
MLC (Freely Convertible Currency): 412 CUP (Breaking the 400-mark once again)

This dollar stability at historic highs is seen by economists as a “calm before the storm,” given that the supply of foreign currency remains extremely limited against a growing demand for food and supplies imported by small and medium-sized enterprises (MSMEs).

MININT Offensive Against Illegal Sales

Parallel to these figures, the Ministry of the Interior (MININT) has intensified operations across the country. According to official reports, networks dedicated to buying and selling foreign currency on the black market have been dismantled, resulting in the seizure of thousands of dollars and the arrest of several individuals involved.

These repressive measures aim to slow down the devaluation of the Cuban peso (CUP), although most experts agree that without structural changes to the economy, the informal market will continue to dictate daily life prices.

Impact on Family Consumption

With a minimum wage that barely covers a fraction of the basic food basket when converted to hard currency, Cubans increasingly rely on remittances sent from abroad. The rise in MLC directly affects prices in state-run stores, which are the only ones offering basic necessities but at prices unreachable for the average worker.

Frequently Asked Questions about the Cuba’s Currency Market

1. Why doesn’t the dollar drop below 500 CUP? The lack of foreign currency in state banks forces all sectors to turn to the informal market, keeping demand and prices at record levels.

2. Is it safe to exchange money on the street? No, authorities have ramped up raids and informal exchange is considered an illegal activity subject to criminal penalties and seizures.

3. What is MLC and why is its value rising? MLC is a digital Cuban currency used in state stores. Its value typically rises when basic goods are scarce, as it is the only way to acquire them legally.

4. How does the elTOQUE rate affect prices? Although the government does not recognize it, it is the reference used by both private sellers and citizens to fix product and service prices throughout Cuba.

Sources: elTOQUE, CiberCuba

How we got here

Background

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