By 8:00 PM local time in Cuba, the informal currency exchange market concluded on Thursday, October 1, 2026, with both the dollar and the euro experiencing a significant rise compared to the previous day. Meanwhile, the MLC (Moneda Libremente Convertible) showed upward movement as well, though its value should be considered as indicative due to limited data. The upward pressure on the Cuban peso continues to be evident as the day ends.
U.S. Dollar (USD)
The U.S. dollar wrapped up Thursday with an average rate of 770 Cuban pesos (CUP), with buying at 765 CUP and selling at 775 CUP. This marks an increase of 10.5 pesos from the prior day when it was valued around 760 CUP. Throughout the day, the dollar climbed 7.5 pesos from its opening average of 763 CUP. Over the past week, the dollar has risen by 42.5 pesos from the 728 CUP it was at seven days ago, translating to a 5.8% increase. Looking at a 30-day span, the dollar has gained 92.5 pesos, or 13.7%, from the 678 CUP it was a month ago. The American currency remains a pivotal indicator in the informal market amid a structural shortage of foreign currency.
Euro (EUR)
The euro closed at an average of 870 CUP, with buying rates at 860 CUP and selling at 880 CUP. Compared to the previous session, it rose by 5 pesos from the 865 CUP recorded yesterday. Over the past week, it has advanced by 40.5 pesos from the 830 CUP it was priced at seven days ago, a 4.9% increase. In a monthly context, the euro has climbed by 102.5 pesos from 768 CUP a month ago, representing a 13.4% rise. The euro remains the most expensive currency in Cuba's parallel market, surpassing the dollar by 100 pesos.
Freely Convertible Currency (MLC)
The MLC closed with an indicative average of 506 CUP, buying at 499 CUP and selling at 512 CUP. Due to scarce data, these figures should be interpreted cautiously. Compared to the previous day, it increased by 14.5 pesos from 491 CUP, and over the week, it has risen by 13 pesos from 493 CUP seven days ago. Without physical existence, the MLC is mainly used in state-run stores, limiting its circulation compared to physical currencies.
Exchange Rate Disparities
The official exchange rate set by the Central Bank of Cuba for this October 1st stands at 689 CUP per dollar and 781 CUP per euro, significantly lower than the prevailing rates in the informal currency market. The discrepancy between official and informal rates is 81 pesos for the dollar and 89 pesos for the euro, highlighting the gap between the formal economy and the everyday financial reality for Cubans.
Despite the Segment III being introduced as a more flexible exchange mechanism, its official rates remain far from those in the informal market and fail to meet the real demand for foreign currencies among the population. In the last month, the official dollar rate increased from 636 to 689 CUP and the euro from 739 to 781 CUP, but this rise still lags behind the pace set by the parallel market.
In a scenario characterized by sustained inflation, low state salaries, and partial dollarization, fluctuations in the informal market directly affect domestic prices and the purchasing power of Cubans. Thursday's close, with the dollar hitting a 30-day high of 770 CUP—also the highest recorded during this period—and the euro at its peak for the month, confirms the persistent pressure on the Cuban peso.
The CiberCuba Exchange Rate is an index of Cuba's informal market derived from the automated analysis of thousands of currency exchange posts in Telegram and Facebook groups. This calculation excludes atypical offers and spam messages, weights each transaction by its recency, and consolidates a representative value updated multiple times daily.
Currency Conversion Table
Equivalence of U.S. Dollar (USD) to Cuban Peso (CUP) based on exchange rates of Thursday, October 1, 2026:
- 1 USD = 770 CUP
- 5 USD = 3,850 CUP
- 10 USD = 7,700 CUP
- 20 USD = 15,400 CUP
- 50 USD = 38,500 CUP
- 100 USD = 77,000 CUP
Equivalence of Euro (EUR) to Cuban Peso (CUP) based on exchange rates of Thursday, October 1, 2026:
- 1 EUR = 870 CUP
- 5 EUR = 4,350 CUP
- 10 EUR = 8,700 CUP
- 20 EUR = 17,400 CUP
- 50 EUR = 43,500 CUP
- 100 EUR = 87,000 CUP
- 200 EUR = 174,000 CUP
Understanding Cuba's Informal Currency Market
What factors contribute to the rise of the dollar and euro in Cuba's informal market?
The rise is primarily due to a structural shortage of foreign currency, persistent inflation, and the partial dollarization of the economy, which increase demand for these currencies.
How does the official exchange rate differ from the informal market rate in Cuba?
The official rate set by the Central Bank of Cuba is significantly lower than the rates in the informal market, with discrepancies highlighting the gap between formal economic policies and actual market demand.
Why is the euro more expensive than the dollar in Cuba's parallel market?
The euro's higher value is likely due to its relative scarcity and demand compared to the dollar, making it the most expensive currency in the informal market.