The informal currency exchange market in Cuba begins this Friday, August 21, with an overall sense of calm.
As of 10:00 a.m. local time, the value of the U.S. dollar and the euro remains stable compared to the previous day, while the MLC shows a slight decline. Due to the limited data available, this should be considered as an indicative value.
U.S. Dollar: Steady on the Market
The U.S. dollar is trading at 663 Cuban pesos (CUP) on the black market, with a buying rate of 660 CUP and a selling rate of 665 CUP, unchanged from the previous session.
Over the past week, the dollar has decreased by just 2 pesos from 665 CUP, a 0.4% drop. Compared to 30 days ago when it was at 668 CUP, it has dropped by 5 pesos (-0.7%). It's important to note that this comparison may partly reflect methodological adjustments rather than pure market movements.
During the last month, the dollar has fluctuated between a high of 675 CUP and a low of 663 CUP, continuing to influence the black market amid a structural scarcity of foreign exchange.
Euro: Stable with a Weekly Downtrend
The euro is being traded at 750 CUP, with a buying rate of 740 CUP and a selling rate of 760 CUP.
Although the euro remains stable from the previous session, it has fallen by 10 pesos compared to the 760 CUP rate a week ago, marking a 1.3% decrease. A month ago, the euro was valued at 775 CUP, a drop of 25 pesos (-3.2%). Again, these figures should be read cautiously as they may include methodological adjustments.
In the past month, the euro has reached a peak of 790 CUP and a low of 750 CUP, where it currently stands. It maintains an edge over the dollar, driven by limited supply and demand from those receiving remittances from Europe.
MLC: Indicative Value Trending Downward
The MLC is approximately valued at 467 CUP, with a buying rate of 442 CUP and a selling rate of 492 CUP.
This represents a 4 peso drop from the previous day’s 471 CUP (-0.8%), though this data should be approached with caution due to the limited volume of transactions available at this hour. Over the past week, the MLC has increased by 10.5 pesos from 457 CUP (+2.3%), and over the last month, it has risen by 28 pesos from 439 CUP (+6.4%). This comparison may also reflect methodological adjustments.
Without a physical presence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange Rate Summary
USD to CUP exchange rate: 663 CUP.
EUR to CUP exchange rate: 750 CUP.
MLC to CUP exchange rate: 467 CUP (indicative, limited data).
The Gap with Official Exchange Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) stands at 635 CUP per dollar and 742 CUP per euro, considerably lower than the practical rates governing the black market. For the dollar, the gap between official and informal rates is 28 pesos, and for the euro, it is 8 pesos.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from those of the informal market and fail to meet the population's real demand for foreign currencies. Notably, the official dollar rate has climbed from 596 CUP on July 22 to the current 635 CUP, a 39 peso increase in just a month, highlighting the ongoing pressure on the Cuban peso even through official channels.
Market Context
Amid persistent inflation, low state salaries, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans. Today's stability in the dollar and euro offers no relief for the population, as prices remain historically high, and the gap between the average salary in pesos and the real cost of currencies continues to pose a structural challenge for millions of families.
The informal currency market in Cuba operates independently of state financial institutions, functioning through networks of private transactions. While not officially acknowledged by the Cuban regime, it effectively determines the real purchasing power of Cubans.
Methodology
The CiberCuba Exchange Rate is an index of the Cuban informal market created from automated analysis of thousands of currency trading posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighs each transaction by age, and consolidates a representative value updated several times a day.
USD to CUP Conversion Rates as of Friday, August 21, 2026:
1 USD = 663 CUP
5 USD = 3,315 CUP
10 USD = 6,630 CUP
20 USD = 13,260 CUP
50 USD = 33,150 CUP
100 USD = 66,300 CUP
EUR to CUP Conversion Rates as of Friday, August 21, 2026:
1 EUR = 750 CUP
5 EUR = 3,750 CUP
10 EUR = 7,500 CUP
20 EUR = 15,000 CUP
50 EUR = 37,500 CUP
100 EUR = 75,000 CUP
200 EUR = 150,000 CUP
Understanding Cuba's Black Market Exchange
Why is the black market exchange rate higher than the official rate in Cuba?
The black market exchange rate is higher because it reflects the true demand for foreign currency in an economy with limited official supply. It operates outside of government controls, allowing market forces to determine the rate.
How does the exchange rate affect the cost of living in Cuba?
Exchange rate fluctuations directly impact the cost of imported goods and services, affecting internal prices and the purchasing power of Cubans, especially in an economy where foreign currency is crucial for basic needs.