As the clock struck 8:00 PM local time in Cuba, the informal currency market concluded on Saturday, September 26, 2026, with the U.S. dollar and euro continuing their upward trajectory, while the MLC experienced a decline. This day ended with sustained pressure on the Cuban peso, as the most sought-after cash currencies reached new closing heights.
Dollar's Climb
The U.S. dollar ended the day valued at 738 Cuban pesos (CUP), marking a 5 peso increase from the previous session, where it closed at 733 CUP. Over the past week, the dollar has surged by 28.5 pesos—or 4%—from its rate of 709 CUP just seven days ago.
Comparing to a month ago, the current exchange rate is 67.5 pesos higher than the 670 CUP recorded at the end of August. It's important to note, however, that this difference might partially reflect methodological adjustments in the index.
Today's value matches the highest in the last 30 days, reinforcing the upward trend seen in recent weeks. Demand for dollars remains high among those looking to safeguard their savings against the peso's depreciation.
Euro's Advance
The euro stands at approximately 840 Cuban pesos (CUP), up from 836 CUP the day before, reflecting a rise of 4 pesos. On a weekly basis, the European currency has gained 34.5 pesos—or 4.3%—from its rate of 805 CUP just a week prior.
Compared to 30 days ago, when it was valued at 756 CUP, the euro has advanced by 83.5 pesos. However, this comparison should be approached cautiously due to potential methodological adjustments.
Today's rate equals the highest recorded over the past month. The euro solidifies its status as the most expensive currency in Cuba's parallel market, surpassing the dollar by 102 pesos and affirming its dominant position.
MLC's Retreat
The MLC closed the day around 485 Cuban pesos (CUP), which is a 7 peso drop from the previous day when it was at 492 CUP. Over the past week, it has fallen by 28.5 pesos—or 5.6%—from its 513 CUP rate seven days ago.
It's worth noting that this value should be considered indicative, given the low volume of trades backing it during this time frame. Without physical existence, its use is limited to state-run stores that accept it, restricting its circulation compared to cash currencies.
Exchange Rate Discrepancies
Exchange rates for the day show 1 USD equals 738 CUP, 1 EUR equals 840 CUP, and MLC is valued at 485 CUP (indicative, lacking sufficient data). Meanwhile, the official exchange rate from the Central Bank of Cuba (Segment III) remains at 681 CUP per dollar and 776 CUP per euro, significantly below the rates observed in everyday informal market transactions.
Even though Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from the informal market's reality, failing to meet the population's actual demand for foreign currencies. The gap between the official and informal rates is now 57 pesos for the dollar and 64 pesos for the euro.
This disparity underscores the ongoing shortage of foreign currency within the state banking system and the public's high demand for dollars and euros, whether for emigration, importing goods, securing savings, or making private sector purchases.
Impact on the Cuban Economy
In a landscape marked by persistent inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of Cuba's informal market derived from automated analysis of thousands of currency buy-sell postings on Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighing each transaction according to its age and consolidating a representative value that updates several times daily.
Currency Conversion
Conversion rates of U.S. Dollar (USD) to Cuban Peso (CUP), as per rates on Saturday, September 26, 2026:
- 1 USD = 738 CUP
- 5 USD = 3,690 CUP
- 10 USD = 7,380 CUP
- 20 USD = 14,760 CUP
- 50 USD = 36,900 CUP
- 100 USD = 73,800 CUP
Conversion rates of Euro (EUR) to Cuban Peso (CUP), as per rates on Saturday, September 26, 2026:
- 1 EUR = 840 CUP
- 5 EUR = 4,200 CUP
- 10 EUR = 8,400 CUP
- 20 EUR = 16,800 CUP
- 50 EUR = 42,000 CUP
- 100 EUR = 84,000 CUP
- 200 EUR = 168,000 CUP
Understanding Cuba's Currency Exchange Dynamics
Why is there a disparity between official and informal exchange rates in Cuba?
The gap between official and informal exchange rates in Cuba is primarily due to the severe shortage of foreign currencies within the state banking system and the high demand among the population for dollars and euros for various economic activities.
How does the fluctuation of the informal market impact Cubans?
Fluctuations in the informal currency market directly affect internal prices and the purchasing power of Cuban citizens, especially in an economy grappling with inflation and low state salaries.