As the clock strikes 8:00 PM local time in Cuba, the informal currency market concludes its trading session on Wednesday, September 16, 2026, with the U.S. dollar appreciating and the euro remaining steady at its recent highs.
The Cuban peso continues to lose value against major currencies, affirming the upward trend seen in recent weeks. The U.S. dollar ends the day trading at an average of 699 Cuban pesos (CUP), which marks an increase of 1.5 pesos compared to the previous session when it stood at 698 CUP. Over the past week, the dollar has climbed 11.5 pesos from the 688 CUP recorded seven days ago, reflecting a 1.7% rise.
Looking at the monthly progression, the dollar has surged by 36.5 pesos from the 663 CUP it registered 30 days ago. However, this comparison should be approached with caution, as it might partly reflect adjustments in the index's methodology.
Throughout the last month, the dollar has fluctuated between a low of 663 CUP and the current high of 699 CUP, highlighting its influence in the informal market amid ongoing currency shortages.
Euro's Performance in the Market
The euro concludes the day without any changes compared to the previous session, maintaining an average value of 795 CUP, the same as its opening and closing levels yesterday. Yet, over the past week, the euro has gained 17.5 pesos, increasing from 778 CUP seven days ago, marking a 2.3% rise.
In the last month, the euro has advanced 35 pesos from the 760 CUP it was valued at 30 days ago. During this period, it hit a low of 746 CUP and reaches its peak today at 795 CUP, positioning itself as the most expensive currency in Cuba's parallel market, surpassing the dollar by 96 pesos.
Current Status of MLC
Regarding the MLC, data available at this time is sparse and unreliable, making its quoted rate more of a guideline. It is estimated around 450 CUP, which represents a significant drop from the 537 CUP of the prior session and the 539 CUP at today's opening. Without physical presence, its usage is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange rates on September 16, 2026, stand at 699 CUP for 1 USD, 795 CUP for 1 EUR, and approximately 450 CUP for 1 MLC (indicative value due to limited data). The official exchange rate set by the Central Bank of Cuba (Segment III) is 662 CUP per dollar and 764 CUP per euro, trailing significantly behind the practical rates observed in the informal market.
Despite Segment III being promoted as a more flexible exchange mechanism, its official rates remain far from those in the informal market and fail to meet the real currency demand of the Cuban population.
The gap between the official and informal rates today surpasses 37 pesos for the dollar and 31 pesos for the euro.
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 the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the Cuban informal market, created through the automated analysis of thousands of currency trading posts in Telegram and Facebook groups. It filters out atypical offers and spam messages, weighs each transaction based on its recency, and consolidates a representative value updated multiple times a day.
Currency Exchange Equivalents
U.S. Dollar to Cuban Peso (CUP) equivalents on Wednesday, September 16, 2026 are as follows:
- 1 USD = 699 CUP
- 5 USD = 3,495 CUP
- 10 USD = 6,990 CUP
- 20 USD = 13,980 CUP
- 50 USD = 34,950 CUP
- 100 USD = 69,900 CUP
Euro to Cuban Peso (CUP) equivalents on the same day are:
- 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
Informal Currency Market in Cuba: Key Questions
Why is the U.S. dollar increasing in Cuba's informal market?
The U.S. dollar is rising due to the structural scarcity of foreign currencies in Cuba, pushing demand higher in the informal market.
How does the euro compare to the dollar in Cuba's currency market?
The euro is currently more expensive than the dollar in Cuba's parallel market, with a difference of 96 pesos.
What role does the official exchange rate play in the Cuban economy?
The official exchange rate set by the Central Bank of Cuba is intended to provide a more stable rate but often fails to meet the real demand for foreign currencies, leading to a significant gap with the informal market rates.