This Saturday, Cuba's informal currency market witnessed a notable increase in the two major foreign currencies. By 8:00 PM local time, the US dollar ended at 675 Cuban pesos (CUP) and the euro at 763 CUP, both surpassing the previous day's values.
The MLC, with limited data available and serving as a guideline value, has slightly declined to around 467 pesos. These figures are part of the exchange rate for the informal market in Cuba, as compiled by CiberCuba.
Closing at 675 CUP, the US dollar saw a rise of 2.5 pesos from the previous session, marking a 0.4% increase. Over the past week, the greenback has climbed 12 pesos from the 663 CUP average, translating to a 1.8% gain. Over the last month, the exchange rate has remained relatively stable, with just a 2.5-peso increase compared to the 673 CUP rate a month ago, though this may reflect adjustments in the index's methodology.
The dollar is currently at its highest point in the past 30 days, fluctuating between a minimum of 663 and the current peak of 675 CUP. It continues to influence the informal market amid a persistent foreign currency shortage.
Euro's Dominance in the Cuban Parallel Market
Finishing at 763 CUP, the euro advanced by five pesos from the prior session's 758 CUP, a 0.7% rise. In the past week, the European currency has gained 12.5 pesos from 750 CUP a week ago.
Over a month-long horizon, the euro stands 22.5 pesos below the 785 CUP from 30 days ago, though this comparison should be viewed cautiously as it might reflect methodological adjustments. Throughout the last 30 days, the euro has ranged from a low of 746 to a high of 788 CUP. It surpasses the dollar by 88 pesos, reinforcing its leading position in the Cuban parallel market.
MLC's Limited Circulation
The MLC is priced around 467 CUP, though this figure should be considered as indicative due to limited data collection during this timeframe.
In the previous session, the rate was 470 CUP, indicating a 3-peso decrease (-0.6%). On a weekly scale, the MLC has seen a significant increase of 49.5 pesos from 417 CUP a week ago (+11.9%), although the monthly comparison shows a 7.5-peso drop from 474 CUP 30 days ago.
Without a physical presence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Discrepancies Between Official and Informal Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) stands at 636 CUP per dollar and 737 CUP per euro, which is significantly lower than the prevailing rates in the everyday informal currency market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from matching the informal market and fail to meet the real currency demand of the public. The gap between the official and informal rates today reaches 39 pesos for the dollar and 26 pesos for the euro.
This disparity highlights the ongoing foreign currency shortage in the state banking system and the high demand for dollars and euros among the population for migration, importing goods, safeguarding savings, or making purchases in the private sector.
Amid persistent inflation, low state wages, and increasing partial dollarization of the economy, fluctuations in the informal market directly affect internal prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the Cuban informal market created through automated analysis of thousands of currency trading posts on Telegram and Facebook groups.
The calculation excludes atypical offers and spam messages, weighs each transaction by its age, and consolidates a representative value that updates several times a day.
Exchange rate for USD to CUP: 675 CUP. Exchange rate for EUR to CUP: 763 CUP. Exchange rate for MLC to CUP: 467 CUP (indicative value, limited data).
USD to Cuban Peso Exchange Rate on Saturday, August 29, 2026: 1 USD = 675 CUP 5 USD = 3,375 CUP 10 USD = 6,750 CUP 20 USD = 13,500 CUP 50 USD = 33,750 CUP 100 USD = 67,500 CUP
EUR to Cuban Peso Exchange Rate on Saturday, August 29, 2026: 1 EUR = 763 CUP 5 EUR = 3,815 CUP 10 EUR = 7,630 CUP 20 EUR = 15,260 CUP 50 EUR = 38,150 CUP 100 EUR = 76,300 CUP 200 EUR = 152,600 CUP
Understanding Cuba's Informal Currency Market
Why is there a discrepancy between official and informal exchange rates in Cuba?
The discrepancy arises from the persistent shortage of foreign currency in the state banking system and the high demand for dollars and euros among the Cuban population. This demand is driven by needs such as migration, importing goods, safeguarding savings, and private sector purchases.
How does the CiberCuba Exchange Rate index work?
The CiberCuba Exchange Rate index is created through automated analysis of thousands of currency trading posts on Telegram and Facebook groups. It excludes atypical offers and spam, weighs transactions by age, and consolidates a value that updates several times daily.
What factors are impacting the informal currency market in Cuba?
Factors include ongoing inflation, low state wages, partial dollarization of the economy, and the structural shortage of foreign currency, which all contribute to fluctuations in the informal market and influence internal prices and purchasing power.