The informal currency market in Cuba opens this Monday with varied movements: the dollar maintains its downward trend, the euro sees a slight increase, and the MLC makes the most notable leap of the day, recovering 50 Cuban pesos in less than 24 hours.
According to Monday's data, the dollar is trading at 658 Cuban pesos (CUP) in the informal market, down by two pesos from Sunday. The euro has risen by three pesos to 750 CUP, while the MLC has seen the most significant jump, climbing from 442 to 492 CUP, regaining almost all it lost over the weekend in just one day.
Current Exchange Rates in Cuba
Exchange rates as of Monday, July 13, 2026, at 07:00 are as follows:
- Dollar (USD) to Cuban pesos (CUP): 658 CUP
- Euro (EUR) to Cuban pesos (CUP): 750 CUP
- MLC to Cuban pesos (CUP): 492 CUP
The MLC had dropped to 419 CUP on Saturday and 442 CUP on Sunday, before rebounding sharply to 492 CUP this Monday, a level it was trading at in early July. This volatility contrasts with the more gradual correction of the dollar.
Dollar's Downward Trend
The greenback has fallen by 22 pesos from its weekly peak of 680 CUP, reached between July 7 and 9. This figure was already far from the recent historical high of 695 CUP recorded on June 21, right after the National Assembly approved 176 economic measures on June 18, which unexpectedly fueled demand for foreign currency instead of calming the market.
Despite the dollar's recent decline, the gap with the official rate set by the Central Bank of Cuba (BCC) remains vast: the institution places the dollar at 592 CUP for July 2026, 66 pesos below the actual trading price for Cubans.
Economic Challenges for Cubans
This discrepancy between the official and informal rates highlights the structural deterioration of the Cuban peso, which has lost over 95% of its value against the dollar in six years: from 42 CUP in 2020 to 658 CUP today.
The impact on Cubans' wallets is severe. With the dollar at 658 CUP, the minimum wage, raised to 3,210 pesos as of July 1—a 53% increase—is equivalent to less than five dollars per month. The official average salary of 6,930 CUP barely amounts to 10.5 dollars, and the minimum pension of 4,000 CUP received by over 1.7 million retirees represents slightly more than six dollars.
Independent economists estimate that meeting basic needs requires about 96,060 pesos monthly, roughly 145 dollars at the informal exchange rate, which is 14 times the official average salary.
The same experts warn that the current decline of the dollar may be temporary: "As long as these conditions persist—real currency shortages, triple-digit inflation, fiscal deficits, and distrust in the Cuban peso—the rate is likely to rise again."
Understanding Cuba's Currency Crisis
Why is the MLC experiencing such volatility?
The MLC's volatility is largely due to fluctuations in demand and supply in the informal market, as well as broader economic instability in Cuba.
What factors are affecting the Cuban peso's value?
Several factors, including a severe lack of foreign currency, high inflation, fiscal deficits, and a general lack of confidence in the peso, contribute to its devaluation.
How does the current exchange rate impact the average Cuban citizen?
The current exchange rate significantly reduces the purchasing power of Cuban citizens, making it challenging to afford basic necessities.