This Wednesday morning, Cuba's informal currency market opens with the US dollar holding steady, while the euro experiences a slight decrease.
By 10:00 a.m. local time, the US dollar remains around 673 Cuban pesos.
The euro, however, has decreased by 2.5 pesos, settling at 785 CUP.
The Convertible Peso (MLC) as a Guideline
The Convertible Peso (MLC), with limited transactions recorded at this time, hovers around 478 pesos. This figure should be viewed as a rough estimate.
Exchange Rate Summary
The exchange rate for the US dollar to CUP is 673. The euro is at 785 CUP, and the MLC stands at an indicative 478 CUP due to limited data.
Dollar Remains Unchanged
In the informal market, the US dollar is traded at 673 CUP: buying at 670 CUP and selling at 675 CUP. Over the past week, the dollar has seen an increase of 5 pesos, rising by 0.7% from 668 CUP.
On a monthly scale, the dollar's value has climbed 62.5 pesos from 30 days ago, when it was at 610 CUP. This shift might partially reflect adjustments in the index's methodology. The dollar's fluctuating range over the last month spans from a low of 610 CUP to a high of 675 CUP.
The dollar continues to dictate the pace of the informal market amid a structural shortage of currency.
Euro Experiences a Slight Decline
Currently, the euro is valued at 785 CUP, with buying at 780 CUP and selling at 790 CUP. This marks a drop of 2.5 pesos compared to the previous day, when it closed at 788 CUP.
Despite this minor setback, the euro has gained 10 pesos, or 1.3%, compared to a week ago when it stood at 775 CUP. In the past month, the euro has surged 94.5 pesos from 691 CUP 30 days ago, but this change should be interpreted cautiously as it may include methodological adjustments. The monthly range for the euro spans from a low of 691 CUP to a high of 790 CUP.
The euro continues to surpass the dollar by 112 pesos, reinforcing its strong position in Cuba's parallel market.
MLC: A Rough Estimate
The MLC is approximately 478 CUP, with buying at 436 CUP and selling at 519 CUP. Due to scarce data, this value is purely indicative.
Compared to the previous day, the MLC reference has decreased by 7 pesos, a 1.4% drop from 485 CUP. However, on a weekly basis, the MLC has increased by 38.5 pesos, or 8.8%, from 439 CUP.
Over the last month, the MLC has ranged from a low of 410 CUP to a high of 543 CUP. Without physical presence, its usage is limited to state-run stores that accept it, restricting its circulation compared to cash currencies.
Gap Between Informal and Official Exchange Rates
The official exchange rate from the Central Bank of Cuba (Segment III) is 605 CUP per dollar and 689 CUP per euro, significantly lower than the values prevalent in the everyday informal currency market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from those of the informal market, failing to meet the real demand for currency among the population.
The disparity between the official and informal rates highlights the persistent shortage of currency in the state banking system and the high demand for dollars and euros among the populace for emigration, importing goods, protecting savings, or making private sector purchases.
Impact on Cuba's Economy
In a setting of ongoing inflation, low state wages, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects internal prices and the purchasing power of Cubans.
With the informal dollar exceeding the official rate by 68 pesos and the informal euro leading by 96 pesos, the gap between these markets remains one of the most visible signs of the economic crisis gripping the island.
Methodology
The CiberCuba Exchange Rate is an index of the Cuban informal market, created through automated analysis of thousands of buy-sell currency postings in Telegram and Facebook groups.
This calculation excludes atypical offers and spam messages, weighs each transaction by its age, and consolidates a representative value updated several times daily.
Currency Equivalents
Conversion of US Dollar (USD) to Cuban Peso (CUP), as per the exchange rates on Wednesday, July 29, 2026:
1 USD = 673 CUP.
5 USD = 3,365 CUP.
10 USD = 6,730 CUP.
20 USD = 13,460 CUP.
50 USD = 33,650 CUP.
100 USD = 67,300 CUP.
Conversion of Euro (EUR) to Cuban Peso (CUP), as per the exchange rates on Wednesday, July 29, 2026:
1 EUR = 785 CUP.
5 EUR = 3,925 CUP.
10 EUR = 7,850 CUP.
20 EUR = 15,700 CUP.
50 EUR = 39,250 CUP.
100 EUR = 78,500 CUP.
200 EUR = 157,000 CUP.
Understanding Cuba's Informal Currency Market
Why does the dollar remain stable in Cuba's informal market?
The dollar's stability in Cuba's informal market is primarily due to consistent demand amidst a structural shortage of currency in the country.
How does the MLC differ from other currencies in Cuba?
The MLC differs as it does not physically exist and is used mainly in state-run stores. Its circulation is limited compared to cash currencies like the dollar or euro.
What impact does the currency gap have on Cuba's economy?
The gap between the informal and official currency rates exacerbates economic challenges in Cuba, affecting internal prices and diminishing purchasing power.