As the clock struck 8:00 PM in Cuba, the informal currency exchange market concluded its Wednesday trading session on July 22, 2026, with significant increases in the value of two key currencies.
The U.S. dollar and the euro both closed higher than their previous day's values, continuing a rising trend that has been evident throughout the week.
By the end of the day, the U.S. dollar reached a value of 671 Cuban pesos (CUP), reflecting a 3.5 pesos gain from the previous day's closing rate of 668 CUP.
Over the past week, the dollar has surged by 16 pesos from the 655 CUP recorded seven days ago, marking a 2.4% increase. When looking at the past 30 days, the dollar is 24 pesos lower than the 695 CUP recorded a month ago.
In the last month, the U.S. dollar has fluctuated between a low of 610 and a high of 695 pesos in the informal market, underscoring its crucial role amidst the ongoing currency shortage.
The Euro's Performance in the Cuban Parallel Market
The euro concluded the session at 778 CUP, marking a 2.5 pesos rise from the previous day, where it stood at 775 CUP.
In the past week, the euro has climbed 22.5 pesos from 755 CUP, translating to a 3% increase. The 30-day comparison shows the euro 22 pesos below the 800 CUP mark from a month ago.
Over the last 30 days, the euro has ranged from a high of 802 to a low of 688 pesos, maintaining its position as the most expensive currency in the Cuban parallel market, surpassing the dollar by 107 pesos.
MLC and the State of the Official Exchange Rates
The MLC (Moneda Libremente Convertible) registered an indicative average value of 479 CUP at the end of the session, with buying and selling prices at 464 and 494 CUP, respectively.
Compared to the previous day, the MLC rose by 9.5 pesos from 470 CUP, although on a weekly basis, it is just 1.5 pesos below the 481 CUP mark from seven days ago.
Within the last 30 days, the MLC has varied between a low of 399 and a high of 543 pesos. Without physical existence, its usage is limited to state-run stores that accept it, restricting its circulation compared to cash currencies.
The official exchange rate set by the Central Bank of Cuba (Segment III) was 596 CUP per dollar and 680 CUP per euro on Wednesday, significantly lower than the rates prevailing in the informal market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from matching the informal market's rates, failing to meet the real currency demand of the population.
The gap between both markets reached 75 pesos for the dollar and 98 pesos for the euro this Wednesday, highlighting the disconnect between the state financial system and the real economy of Cubans.
In an environment of sustained inflation, low state salaries, and increasing partial dollarization of the economy, fluctuations in the informal market have a direct impact on internal prices and the purchasing power of Cubans.
The upward trend of the dollar over the past week—rising 16 pesos in seven days—further exacerbates the decline in purchasing power for those earning in Cuban pesos.
The CiberCuba Exchange Rate is an index of the Cuban informal market, derived from the automated analysis of thousands of currency trading posts on Telegram and Facebook groups.
The calculation excludes atypical offers and spam, weighing each transaction based on its age and consolidating a representative value that is updated multiple times a day.
Exchange Rate Conversion Examples
According to the exchange rates on this Wednesday, July 22, 2026:
U.S. Dollar (USD) to Cuban Peso (CUP):
- 1 USD = 671 CUP
- 5 USD = 3,355 CUP
- 10 USD = 6,710 CUP
- 20 USD = 13,420 CUP
- 50 USD = 33,550 CUP
- 100 USD = 67,100 CUP
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 778 CUP
- 5 EUR = 3,890 CUP
- 10 EUR = 7,780 CUP
- 20 EUR = 15,560 CUP
- 50 EUR = 38,900 CUP
- 100 EUR = 77,800 CUP
- 200 EUR = 155,600 CUP
Understanding Cuba's Informal Currency Market
Why are the informal market rates higher than the official rates?
The informal market rates are higher due to a scarcity of foreign currency and a high demand that the official rates do not satisfy. The gap reflects the economic disconnect in Cuba.
How does the fluctuation of the dollar impact Cubans?
As the dollar rises, the purchasing power of Cubans earning in pesos declines, leading to higher prices for goods and services, and further economic hardship.
What role does the MLC play in the Cuban economy?
The MLC is used primarily in state-run stores and is not physically circulated, limiting its availability compared to cash currencies, which affects its impact on the economy.