As the clock struck 8:00 PM local time in Cuba, the informal currency market closed on Tuesday, September 15, with a mixed performance. The U.S. dollar held its ground compared to the previous session, while the euro witnessed a modest increase. Additionally, the MLC showed an upward trend, although its valuation should be interpreted cautiously due to the low transaction volume supporting it.
Dollar and Euro Movements
The U.S. dollar closed the day trading at 698 Cuban pesos (CUP), unchanged from the start of the day and the previous session. Despite no daily change, the dollar has risen significantly over the past week; it was valued at 685 pesos just seven days ago, marking a 13-peso increase. Over the past month, the dollar has climbed from 664 pesos, though some of this fluctuation might reflect methodological adjustments in the index. In the last 30 days, it has ranged between a low of 663 and the current peak of 698 pesos. The dollar continues to set the pace in the informal market amidst a chronic shortage of foreign currency.
Meanwhile, the euro has advanced to 795 pesos CUP, up by one peso from the previous day's closing of 794 pesos. This marks a one-peso increase compared to the last session. Over the week, the euro has gained 17.5 pesos from 778 a week ago, and on a monthly scale, it has risen 35 pesos from 760 pesos 30 days prior, although this should be considered carefully due to potential methodological adjustments. The current level of 795 pesos is the highest in the past 30 days, with the lowest being 746 pesos. It stands out as the priciest currency in Cuba's parallel market, outpacing the dollar by 97 pesos.
MLC and the Official Exchange Rate
The MLC is approximately 537 pesos CUP, but this figure is indicative due to the limited number of transactions during this period. This represents a 27.5 peso increase from the previous day when it was at 509 pesos. Over the past week, the indicative value of the MLC has risen by 75 pesos from 462 pesos seven days ago and has climbed 79 pesos from 458 pesos 30 days ago. Without a physical form, its use is confined to state stores that accept it, limiting its circulation compared to cash currencies.
Exchange rates are as follows: USD to CUP is 698 CUP, EUR to CUP is 795 CUP, and MLC to CUP is 537 CUP (indicative value with limited data). The official exchange rates from the Central Bank of Cuba (Segment III) are significantly lower at 659 CUP per dollar and 761 CUP per euro, failing to reflect the realities of the informal currency market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from the informal market levels and do not meet the real currency demand of the Cuban population. In the past month, the official rate for the dollar has increased from 628 to 659 pesos, and the euro from 727 to 761 pesos, yet this upward trend hasn't narrowed the gap with the parallel market.
In a scenario marked by persistent inflation, low state salaries, and increasing partial dollarization of the economy, fluctuations in the informal market directly affect domestic 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 trade posts on Telegram and Facebook. The calculation omits unusual offers and spam messages, weights each transaction by its age, and consolidates a representative value updated multiple times a day.
Dollar to Peso equivalency for Tuesday, September 15, 2026, is as follows: 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. Euro to Peso equivalency is: 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.
Frequently Asked Questions about Cuba's Currency Market
Why is the informal market exchange rate higher than the official rate?
The informal market exchange rate is higher due to the chronic shortage of foreign currency and higher demand in the unofficial market. The official rates do not meet the real demand for currency exchange among the Cuban population.
What is the significance of the MLC in Cuba's economy?
The MLC is a virtual currency used primarily in state-run stores. Although it shows an upward trend, its circulation is limited due to a lack of physical form and is only accepted in certain state-run commerce.
How does the CiberCuba Exchange Rate Index work?
The CiberCuba Exchange Rate Index is generated by analyzing numerous currency exchange posts on platforms like Telegram and Facebook, filtering out atypical offers and spam, and calculating a representative rate that is updated several times daily.