As of 10:00 a.m. Cuban local time, the informal currency market in Cuba begins Monday, July 20, 2026, with the U.S. dollar and euro showing no changes compared to the previous day. However, the MLC displays an upward trend, though these figures should be approached cautiously due to the low volume of transactions. Overall, the week opens with relative tranquility in the parallel market.
The Dollar's Influence in Cuba's Shadow Economy
Currently, the U.S. dollar is valued at 665 Cuban pesos (CUP) in the informal market, with a buying rate of 660 CUP and a selling rate of 670 CUP. This marks no change from the prior day. Over the past week, the dollar has increased by 7.5 pesos, rising to 665 CUP from 658 CUP, a 1.1% increase. On a monthly scale, the dollar is priced 28.5 pesos below its value from 30 days ago, but this difference may partly reflect methodological adjustments rather than pure market movements. In the last month, the dollar has fluctuated between a low of 610 CUP and a high of 695 CUP, continuing to set the tone in an environment plagued by a chronic shortage of foreign currency.
Euro's Continuing Dominance
The euro stands at 765 Cuban pesos (CUP), with a buying rate of 760 CUP and a selling rate of 770 CUP, mirroring its previous session values. Notably, this rate is based on merely 17 offers during the time frame. Over the past week, the euro has increased by 13 pesos, a 1.7% gain from its position at 752 CUP seven days ago. Compared to a month ago, it has dropped by 31.5 pesos, a change to be interpreted with caution due to possible index adjustments. Its range over the past month has been between 688 CUP and 802 CUP, maintaining a 100-peso advantage over the dollar, thereby asserting its stronghold in the parallel market.
MLC's Digital Significance
The MLC is priced around 474 Cuban pesos (CUP), with a buying rate of 439 CUP and a selling rate of 508 CUP. This value should be seen as indicative, given only 11 offers recorded in this period. Compared to the previous day, this reflects a 25-peso increase, translating to a 5.6% rise. However, over the past week, the MLC has decreased by 16.5 pesos from 490 CUP, a 3.4% drop. On a monthly basis, it is 36 pesos higher than 30 days ago, marking an 8.2% increase, though methodological adjustments might influence this comparison. Despite being primarily digital, MLC remains crucial for accessing basic goods in the state-run sector.
Discrepancy Between Official and Informal Rates
The official exchange rate from the Central Bank of Cuba (Segmento III) remains at 592 CUP per dollar and 677 CUP per euro, significantly lower than the prevailing rates in the everyday informal currency market.
Although Segmento III was introduced as a more flexible exchange mechanism, its official rates remain far from those in the informal market, failing to meet the real demand for foreign currency among the population. In the past month, the official dollar rate has climbed from 565 to 592 CUP, while the parallel market trades at 665 CUP, illustrating a 73-peso gap that highlights the disconnect between the two markets.
This divergence underscores the persistent foreign currency shortage within the state banking system and the high demand for dollars and euros by the population, whether for emigration, importing goods, safeguarding savings, or engaging in private sector purchases.
Amid sustained inflation, low state wages, and increasing partial dollarization of the economy, any fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the Cuban informal market derived from the automated analysis of thousands of currency exchange postings in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighting each transaction based on its age to provide a representative value updated several times a day.
Currency Equivalence: Dollar and Euro to Cuban Peso
Equivalence for U.S. Dollar (USD) to Cuban Peso (CUP) — Monday, July 20, 2026
- 1 USD = 665 CUP
- 5 USD = 3,325 CUP
- 10 USD = 6,650 CUP
- 20 USD = 13,300 CUP
- 50 USD = 33,250 CUP
- 100 USD = 66,500 CUP
Equivalence for Euro (EUR) to Cuban Peso (CUP) — Monday, July 20, 2026 (Indicative Value)
- 1 EUR = 765 CUP
- 5 EUR = 3,825 CUP
- 10 EUR = 7,650 CUP
- 20 EUR = 15,300 CUP
- 50 EUR = 38,250 CUP
- 100 EUR = 76,500 CUP
- 200 EUR = 153,000 CUP
Understanding Cuba's Informal Currency Market
Why is the informal currency market significant in Cuba?
The informal currency market in Cuba is crucial due to the persistent scarcity of foreign currency in the official banking system, which has led citizens to rely on parallel markets to meet their needs for dollars and euros for travel, importing goods, and safeguarding savings.
How does the discrepancy between official and informal exchange rates affect Cubans?
The gap between official and informal exchange rates impacts Cubans by increasing internal prices and reducing purchasing power, as the informal market rates are more reflective of actual demand and supply of foreign currency, unlike the official rates, which are significantly lower.