This Tuesday, the informal currency market in Cuba witnessed another spike in its three main indicators, putting further strain on the Cuban peso.
The U.S. dollar is nearing the 700 CUP threshold, the euro has reached a new monthly high, and the MLC (Freely Convertible Currency) has experienced a significant jump, despite limited available data.
As of 10:00 a.m. local Cuban time, the exchange rate pegged the U.S. dollar at 698 Cuban pesos, the euro at 795 CUP, and the MLC around 509 CUP.
The Dollar Nears a New High
On Tuesday, the U.S. dollar is trading at 698 CUP, with buying offers around 695 pesos and selling offers close to 700.
The American currency has once again advanced compared to the previous day, continuing its upward trend. Just a week ago, the dollar stood at 684 CUP, marking a 14 pesos increase in just seven days.
The difference becomes even more pronounced when looking back a month; it was approximately 664 CUP. Over the last 30 days, the dollar has gained more than 30 pesos, reaching its highest level within a range of 663 to 698 CUP.
Euro Hits New Monthly Peak
The euro is also applying pressure on the Cuban peso, standing at 795 CUP, with buying offers around 790 and selling offers near 799 pesos.
A week ago, the European currency was trading at about 778 CUP, illustrating a 17 pesos increase. Compared to 30 days ago, when it was 758 CUP, the cumulative rise totals 37 pesos.
With this Tuesday's movement, the euro reaches its highest point in the last 30 days and remains the most expensive currency in the Cuban black market, maintaining a 97 pesos gap over the dollar.
MLC Makes a Surprising Leap
The MLC showed the most dramatic movement of the day, although it remains the reference with the least available data.
Its indicative value is around 509 CUP, with a substantial gap between buying offers near 459 pesos and selling offers around 559.
On Monday, the MLC was approximately 482 CUP, indicating a surge of about 27 pesos in a single day. A week ago, it hovered around 417 pesos.
The wide spread between buying and selling rates and the limited number of listings require cautious interpretation of this rate.
Tuesday's Informal Market Rates
U.S. Dollar (USD): 698 CUP
Euro (EUR): 795 CUP
MLC: 509 CUP
Meanwhile, the official exchange rate from the Central Bank of Cuba for Segment III remains at 659 CUP per dollar and 761 CUP per euro.
The gap with the informal market is thus 39 pesos per dollar and 34 pesos per euro, highlighting the challenges the official mechanism faces in meeting the real demand for foreign currencies.
Exchange Rates for September 15, 2026
1 USD = 698 CUP
5 USD = 3,490 CUP
10 USD = 6,980 CUP
20 USD = 13,960 CUP
50 USD = 34,900 CUP
100 USD = 69,800 CUP
1 EUR = 795 CUP
5 EUR = 3,975 CUP
10 EUR = 7,950 CUP
20 EUR = 15,900 CUP
50 EUR = 39,750 CUP
100 EUR = 79,500 CUP
200 EUR = 159,000 CUP
Understanding the Cuban Currency Market
Why is the Cuban peso under pressure?
The Cuban peso is under pressure due to economic instability, limited foreign exchange reserves, and high demand for foreign currencies in the informal market.
What is MLC in Cuba?
MLC stands for Moneda Libremente Convertible, or Freely Convertible Currency, used in Cuba for certain transactions and often traded in the informal currency market.