On the morning of Monday, August 10, 2026, at 10:00 a.m. local time, Cuba's informal currency market begins with a blend of signals.
The U.S. dollar remains steady compared to the previous session, while the euro decreases for the second consecutive day. Meanwhile, the MLC shows a slight increase, though its rate should be viewed as indicative due to the limited number of transactions supporting it at this time.
U.S. Dollar Stability
The U.S. dollar is trading at 673 Cuban pesos (CUP) in the informal market, with buying at 670 CUP and selling at 675 CUP. This stability is consistent with both the prior day and the rate from a week ago, indicating short-term steadiness.
Over the past month, the dollar has risen by 12.5 pesos, a 1.9% increase, though this comparison might partly reflect methodological adjustments in the index.
Throughout the last 30 days, the American currency has ranged between a low of 655 CUP and a high of 675 CUP in the informal market. It remains a key player in this market amidst a chronic shortage of foreign currency.
Euro's Downward Trend
The euro opens the week with an average value of 776 CUP, purchasing at 766 CUP and selling at 785 CUP. This marks a 2-peso decline from the previous session, which reported an average of 778 CUP. Over the past week, the euro has dropped 11.5 pesos, a fall of 1.5%. During the last month, the European currency has fluctuated between a minimum of 745 CUP and a maximum of 790 CUP. Despite its recent decline, it still holds a premium over the dollar, driven by limited supply and demand from those receiving remittances from Europe.
MLC: A Cautious Increase
The MLC posts an average value of 458 CUP as of Monday morning, with buying at 432 CUP and selling at 483 CUP. This represents an 8-peso increase from the previous day, a 1.8% rise. However, due to the limited number of transactions at this time, its rate should be considered provisional. Compared to a week ago, the MLC has fallen 22.5 pesos, down 4.7%. Over the last month, it has ranged from 425 to 496 CUP. Without physical presence, its usage is confined to state-run stores that accept it, restricting its circulation compared to cash currencies.
Exchange Rate Summary
USD to CUP: 673 CUP
EUR to CUP: 776 CUP
MLC to CUP: 458 CUP (indicative value)
The Gap with Official Rates
The official exchange rate from the Central Bank of Cuba (Segment III) is 621 CUP per dollar and 717 CUP per euro, significantly lower than the rates prevailing in the real informal currency market. The difference between the official and informal prices exceeds 50 pesos for the dollar and is around 59 pesos for the euro.
Despite being introduced as a more flexible exchange mechanism, the official Segment III rate remains far from the informal market rate, failing to meet the actual currency demand of the population. Over the past month, the official dollar rate has increased from 592 to 621 CUP, and the euro from 676 to 717 CUP, but the parallel market continues to operate with a considerable premium over these figures.
The Informal Market: The Real Benchmark
Cuba's informal currency market functions independently of the state's financial institutions, through networks of individual buyers and sellers. Although the Cuban regime does not officially recognize it, this market effectively dictates the real purchasing power of Cubans.
In a scenario marked by sustained inflation, low state salaries, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans.
Currency Conversion: U.S. Dollar to Cuban Peso
According to Monday, August 10, 2026, exchange rates:
- 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
Currency Conversion: Euro to Cuban Peso
According to Monday, August 10, 2026, exchange rates:
- 1 EUR = 776 CUP
- 5 EUR = 3,880 CUP
- 10 EUR = 7,760 CUP
- 20 EUR = 15,520 CUP
- 50 EUR = 38,800 CUP
- 100 EUR = 77,600 CUP
- 200 EUR = 155,200 CUP
Methodology
The CiberCuba Exchange Rate is an index of Cuba's informal market, created through the automated analysis of thousands of currency exchange postings in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighs each transaction by its age, and consolidates a representative value that is updated several times daily.
Key Questions about Cuba's Informal Currency Market
How does the informal market impact Cuba's economy?
The informal market significantly affects Cuba's economy by determining the real purchasing power of its citizens, influencing internal prices and the overall economic environment in a context of inflation and currency shortages.
Why is there a discrepancy between official and informal exchange rates?
The gap exists because the official rates do not reflect the actual supply and demand dynamics in the market. The informal rates offer a more realistic picture of the currency's value, driven by the scarcity of foreign exchange and the demand for hard currency.