As of 8:00 PM local time in Cuba, the informal currency market wrapped up Saturday, August 22, 2026, with a scene of relative tranquility. The U.S. dollar held steady, maintaining the same levels as the previous day, while the euro made slight gains compared to the prior session. Meanwhile, the MLC saw a significant drop from the day before, though its valuation should be interpreted cautiously due to the limited volume of transactions supporting it.
Dollar Holds Firm Amidst Economic Challenges
The U.S. dollar was trading at 663 Cuban pesos (CUP) by the market's close. This average rate showed no change from the previous day, reinforcing the greenback's stability as the week concluded. Over the past week, the dollar has only dipped by one peso from the 664 CUP it marked seven days ago. Compared to its position a month ago at approximately 670 CUP, it has declined by seven pesos, though this comparison might partially reflect methodological adjustments in the index. Throughout the last month, the dollar has fluctuated between a high of 675 and a low of 663 CUP in the informal market, continuing to steer the pulse of the informal market amidst a structural currency shortage.
Euro Gains Slightly but Faces Weekly Setback
The euro closed at 750 CUP, marking an increase of two pesos from the previous day's rate of 748 CUP, representing the most notable movement of the day. However, the European currency has lost ground over the past week; last Saturday, it was valued at 760 CUP, ten pesos higher than its current level. Looking back over the past 30 days, the decline is more pronounced—from 778 CUP—though caution is advised as this comparison might include methodological adjustments. Over the last month, the euro reached a peak of 790 CUP and a low of 746 CUP, exceeding the dollar by 87 pesos and solidifying its dominant position in Cuba's parallel market.
MLC Takes a Hit in Thin Market
The MLC concluded the day with an indicative average value of 417 CUP. This figure should be viewed with caution due to the scarcity of transactional data supporting it. Compared to the previous session, which reported a value of 450 CUP, there is a 32.5 peso drop, equating to a 7.2% decrease, largely attributable to the lack of recorded transactions. Over the week, it has fallen by 17.5 pesos from the 435 CUP reported seven days ago. Without physical existence, its use is confined to state-run shops that accept it, limiting its circulation compared to cash currencies.
Official Rates Lag Behind Market Reality
Exchange rates from the Central Bank of Cuba on August 22 are set at 638 CUP per dollar and 745 CUP per euro, significantly lower than the practical values prevailing in the informal currency market. For the dollar, the gap between the official and informal rates stands at 25 pesos; for the euro, it is a mere five pesos—a surprisingly narrow margin reflecting the official rate's steady advance in recent weeks: the official dollar rate has climbed from 596 to 638 CUP over the past month, while the euro has risen from 680 to 745 CUP.
Despite being introduced as a more flexible exchange mechanism, Segment III's official rate remains distant from the informal market's and fails to meet the real currency demand of the populace. While the gap has closed somewhat compared to previous periods, it continues to highlight the structural tensions within Cuba's monetary system.
In a scenario characterized by persistent inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly impacts domestic prices and Cubans' purchasing power. The close of this Saturday, with the dollar stable and the euro showing a slight uptick, offers little relief for those relying on foreign currency for basic needs or to safeguard their savings against the peso's depreciation.
The CiberCuba Exchange Rate is an index of the Cuban informal market, compiled from automated analysis of thousands of foreign exchange buy-sell posts 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 multiple times a day.
U.S. Dollar (USD) to Cuban Peso (CUP) Equivalence — Saturday, August 22, 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
Euro (EUR) to Cuban Peso (CUP) Equivalence — Saturday, August 22, 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 Informal Currency Market
Why is the U.S. dollar stable in Cuba's informal market?
The U.S. dollar remains stable due to consistent demand and limited supply in the informal market, despite broader economic challenges.
How does the euro compare to the dollar in the Cuban informal market?
The euro is valued higher than the dollar by 87 pesos in the informal market, reflecting its strong position and demand compared to the dollar.
What factors affect the MLC's exchange value?
The MLC's exchange value is affected by the limited volume of transactions and its restricted use in state-run shops, unlike cash currencies.