As of 10:00 a.m. local time in Cuba, the informal currency market on Wednesday, July 22, shows varied activity among the key currencies.
The U.S. dollar remains nearly unchanged, the euro sees modest gains, while the MLC—with limited data—experiences a slight drop.
The day starts without significant surprises, although the weekly upward trend of both the dollar and euro continues to be the most notable feature of the market in recent days.
Current Exchange Rates and Trends
The U.S. dollar is trading at 668 Cuban pesos (CUP) on the informal market, with a buying rate of 665 CUP and a selling rate of 670 CUP.
This represents a minor increase of just 1 peso compared to the previous session, when it was at 667 CUP, equating to a mere 0.1% change.
Over the past week, the dollar has risen by 12.5 pesos from 655 CUP, marking a 1.9% increase.
Looking back 30 days, when it was at 694 CUP, the current rate is 26.5 pesos lower. However, this comparison should be approached cautiously, as it may reflect methodology adjustments rather than pure market movements.
In the past month, the dollar has fluctuated between a low of 610 CUP and a high of 695 CUP.
The demand for dollars remains high among those seeking to protect their savings from the depreciation of the peso.
Euro and MLC Movements
The euro climbs to 775 Cuban pesos (CUP), with a buying rate of 770 CUP and a selling rate of 780 CUP.
This marks an increase of 4.5 pesos from the previous session, when it was priced at 771 CUP, a rise of 0.6%.
On a weekly basis, the euro has gained 20 pesos from 755 CUP a week ago, representing a 2.6% advance.
A month ago, it was at 793 CUP, above the current level, though this difference can partly be attributed to methodology adjustments.
Over the past month, the euro has hit a high of 802 CUP and a low of 688 CUP, maintaining its status as the most expensive currency in Cuba's parallel market, surpassing the dollar by 107 pesos.
The MLC is around 439 Cuban pesos (CUP), with a buying rate of 411 CUP and a selling rate of 467 CUP.
This value should be seen as merely indicative since data in this time frame is limited.
Compared to the previous session, when it was at 441 CUP, it has dropped by 2 pesos, or 0.5%.
Over the past week, the decline is more significant: seven days ago, it was at 488 CUP, a decrease of 48.5 pesos, or 9.9%.
In the last 30 days, it has ranged from a low of 399 CUP to a high of 543 CUP.
Without physical existence, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Official vs. Informal Market Discrepancies
The exchange rate for the U.S. dollar to CUP is 668, for the euro to CUP is 775, and for MLC to CUP is an indicative 439, with limited data. The official exchange rate from the Central Bank of Cuba (Segment III), set this Wednesday at 596 CUP per dollar and 680 CUP per euro, remains significantly below the practical values in the informal currency market.
The gap between the two markets exceeds 72 pesos for the dollar and 95 pesos for the euro, highlighting the disconnect between official exchange policy and the economic reality faced by the population.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates continue to lag far behind the informal market, failing to meet the real demand for currency among the population.
In the past month, the official dollar rate has increased from 565 to 596 CUP, and the official euro rate from 648 to 680 CUP, adjustments that have not managed to close the gap with the parallel market.
In a scenario of ongoing inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly affects internal prices and the purchasing power of Cubans.
The relative stability of the dollar and the moderate rise of the euro at this opening do not ease the pressure on those who rely on the Cuban peso to meet their daily needs.
The CiberCuba Exchange Rate is an index of the Cuban informal market created from the automated analysis of thousands of currency buy-sell postings on Telegram and Facebook groups.
The calculation excludes atypical offers and spam messages, weighing each transaction by its age and consolidating a representative value that is updated multiple times a day.
Currency Conversion Rates
Equivalence of U.S. Dollar (USD) to Cuban Peso (CUP) as of Wednesday, July 22, 2026:
- 1 USD = 668 CUP
- 5 USD = 3,340 CUP
- 10 USD = 6,680 CUP
- 20 USD = 13,360 CUP
- 50 USD = 33,400 CUP
- 100 USD = 66,800 CUP
Equivalence of Euro (EUR) to Cuban Peso (CUP) as of Wednesday, July 22, 2026:
- 1 EUR = 775 CUP
- 5 EUR = 3,875 CUP
- 10 EUR = 7,750 CUP
- 20 EUR = 15,500 CUP
- 50 EUR = 38,750 CUP
- 100 EUR = 77,500 CUP
- 200 EUR = 155,000 CUP
Understanding Cuba's Currency Market Dynamics
Why does the informal market have different rates than the official market?
The informal market rates reflect real-time supply and demand, often diverging from the official rates set by the government, which may not accurately represent the economic conditions and currency needs of the population.
How does the fluctuation in the informal market affect everyday life in Cuba?
Fluctuations in the informal market directly impact the cost of goods and services, affecting the purchasing power of Cubans, especially as the economy becomes more dollarized and inflation persists.