As the clock struck 8:00 PM local time in Cuba, the informal currency market wrapped up its trading session on Sunday, August 23, 2026, with notable increases in both the U.S. dollar and the euro. These currencies gained ground compared to the previous day, while the MLC showed a slight upward trend that should be approached with caution due to the limited volume of transactions supporting it.
The U.S. dollar closed the day valued at 665 Cuban pesos (CUP), marking a 2-peso increase from the previous session's 663 CUP. Over the past week, the American currency has climbed 1 peso from 664 CUP. However, when viewed over a month, the dollar was exchanged at approximately 674 CUP, though this comparison should be treated with care as it might reflect index methodology adjustments, not merely market movements. In the last month, the dollar's value fluctuated between 663 and 675 CUP, highlighting its pivotal role in the informal market amidst a structural shortage of foreign currency.
The euro ended the day at 752 CUP, a rise of 2 pesos from the prior day's 750 CUP. On a weekly basis, however, the European currency has slipped; seven days ago, it was valued at 760 CUP, 8 pesos higher than its current rate. The 30-day reference, which should be cautiously interpreted due to potential methodological adjustments, indicated a previous value of 785 CUP. Throughout the month, the euro ranged from 746 to 790 CUP, maintaining its status as the costliest currency in Cuba's parallel market, surpassing the dollar by 87 pesos.
MLC and Official Exchange Rates
At the end of the session, the MLC was approximately 449 CUP, up from 417 CUP the previous day, representing a 32-peso increase. Nevertheless, this figure should be considered tentative due to the low volume of transactions at this time. A week ago, the MLC stood at 458 CUP, and a month ago, around 470 CUP, though this latter comparison might be influenced by methodological adjustments. The MLC's exchange rate has varied between a low of 408 and a high of 529 CUP in the last month. Due to its lack of physical presence, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
The current exchange rates are as follows: USD to CUP at 665, EUR to CUP at 752, and MLC to CUP at a tentative 449. The official rates from the Central Bank of Cuba (Segment III) remain significantly lower than those in the informal market, with the dollar at 638 CUP and the euro at 745 CUP.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rates are still far from those in the informal market and fail to meet the population's real demand for foreign currency. Over the past month, the official dollar rate has climbed from 598 to 638 CUP, while the euro has increased from 680 to 745 CUP, indicating a continuous devaluation of the peso in the official channel. Nonetheless, the gap with the informal market remains substantial: 27 pesos for the dollar and 7 pesos for the euro.
Impact of Exchange Rate Disparity
In an environment characterized by persistent inflation, low state salaries, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects internal prices and the purchasing power of Cubans.
The disparity between official and informal rates highlights the ongoing shortage of foreign currency in the state banking system and the high demand for dollars and euros among the population, whether for emigration, importing goods, safeguarding savings, or purchasing in the private sector.
The CiberCuba Exchange Rate is an index of the Cuban informal market created through automated analysis of thousands of currency buying and selling posts in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weights each transaction according to its age, and consolidates a representative value that is updated several times a day.
Currency Conversion Examples
Conversion rates for U.S. dollars (USD) to Cuban pesos (CUP) as of Sunday, August 23, 2026, are as follows:
- 1 USD = 665 CUP
- 5 USD = 3,325 CUP
- 10 USD = 6,650 CUP
- 20 USD = 13,300 CUP
- 50 USD = 33,250 CUP
- 100 USD = 66,500 CUP
Conversion rates for euros (EUR) to Cuban pesos (CUP) are:
- 1 EUR = 752 CUP
- 5 EUR = 3,760 CUP
- 10 EUR = 7,520 CUP
- 20 EUR = 15,040 CUP
- 50 EUR = 37,600 CUP
- 100 EUR = 75,200 CUP
- 200 EUR = 150,400 CUP
Understanding Cuba's Informal Currency Market
Why is the informal currency market significant in Cuba?
The informal currency market in Cuba is important because it reflects the real demand and supply of foreign currencies, which the official market fails to meet. This market affects local prices and purchasing power, impacting everyday life for Cubans.
How do the official and informal exchange rates differ?
The official rates set by the Central Bank of Cuba are generally lower than those in the informal market. This discrepancy is due to the official market's inability to satisfy the actual demand for foreign currency, leading many to turn to the informal market for more realistic rates.