As of 8:00 PM local time in Cuba, the informal currency market wrapped up on Sunday, September 27, 2026, with significant gains in major currencies. Both the U.S. dollar and the euro ended the day at higher values compared to the previous day, exerting increased pressure on the Cuban peso. Meanwhile, the MLC presents an indicative rate that should be approached cautiously due to its limited trading volume.
The U.S. dollar concluded the session trading at 740 Cuban pesos (CUP), marking a rise of 2.5 pesos compared to the previous day when the average was 738 CUP. On a weekly scale, the dollar has climbed by 27.5 pesos from 713 CUP a week ago, reflecting a 3.9% increase. Over the past 30 days, it has seen a gain of 67.5 pesos from its former value of 673 CUP, though this may partially reflect methodological adjustments. The dollar has fluctuated between a low of 673 CUP and a high of 743 CUP in the last month, underscoring its role as a barometer for the informal market amid a chronic shortage of foreign currency.
The euro, at the close of the day, was valued at 847 CUP, its highest in the past 30 days according to available data. This marks a jump of 7.5 pesos from the previous session's 840 CUP. Over the past week, the euro has surged by 32 pesos from 815 CUP, a 3.9% increase. Compared to 30 days ago when it was at 758 CUP, the gain is 89.5 pesos, but this monthly comparison should be interpreted cautiously due to potential methodological tweaks. It stands as the most expensive currency in Cuba's parallel market, exceeding the dollar by 107 pesos.
The MLC closed around 542 CUP, though this figure should be seen as indicative given the low volume of transactions recorded during this time. Compared to the previous day, which reported an average of 485 CUP, there's an apparent increase of 57 pesos, although this figure's reliability is limited. A week ago, it was 495 CUP, and 30 days ago, 470 CUP. Without physical existence, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange Rate Discrepancies
The exchange rates for the U.S. dollar, euro, and MLC are 740 CUP, 847 CUP, and 542 CUP (indicative), respectively. In contrast, the official exchange rate set by the Central Bank of Cuba (Segment III) is significantly lower at 681 CUP per dollar and 776 CUP per euro. The gap between the official rate and the informal market exceeds 59 pesos for the dollar and approaches 71 pesos for the euro.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rate remains far removed from the informal market, failing to meet the real demand for foreign currencies among the populace. Over the past month, the official dollar rate has moved from 634 to 681 CUP, and the euro from 739 to 776 CUP, an adjustment that hasn't bridged the gap with the parallel market.
In a scenario marked by sustained inflation, low state salaries, and increasing partial dollarization of the economy, any change in the informal market directly impacts domestic prices and the purchasing power of Cubans. The recent hikes in the dollar and euro exacerbate the erosion of purchasing power for those earning in Cuban pesos.
The informal currency market in Cuba operates independently of state financial institutions, functioning through networks of private exchanges. Although not officially recognized by the Cuban regime, this market effectively determines the real purchasing power of Cuban citizens.
The CiberCuba Exchange Rate is an index of the Cuban informal market derived from automated analyses of thousands of buy-sell currency posts in Telegram and Facebook groups. It excludes atypical offers and spam, weighting each transaction by its recency to establish a representative value that is updated multiple times daily.
Currency Conversion Examples
Based on the exchange rates as of Sunday, September 27, 2026:
- 1 USD = 740 CUP
- 5 USD = 3,700 CUP
- 10 USD = 7,400 CUP
- 20 USD = 14,800 CUP
- 50 USD = 37,000 CUP
- 100 USD = 74,000 CUP
For Euros:
- 1 EUR = 847 CUP
- 5 EUR = 4,235 CUP
- 10 EUR = 8,470 CUP
- 20 EUR = 16,940 CUP
- 50 EUR = 42,350 CUP
- 100 EUR = 84,700 CUP
- 200 EUR = 169,400 CUP
Understanding Cuba's Informal Currency Market
Why is there a gap between Cuba's official and informal exchange rates?
The gap exists because the official rates do not reflect the actual supply and demand dynamics in Cuba's economy. The informal market, though not officially recognized, adjusts to real economic conditions, creating a wide divergence from the state's fixed rates.
How does the informal market impact Cuban citizens?
The informal market significantly affects the purchasing power of Cubans, as it dictates the real value of the peso against the dollar and euro. With state salaries low and inflation high, fluctuations in this market can severely impact living costs.