By 8:00 PM local time in Cuba, the informal currency exchange market wrapped up its session on Thursday, October 15, 2026, with both the U.S. dollar and the euro experiencing gains.
The two primary cash currencies have shown increases compared to the previous session, cementing an upward trend that has persisted throughout the week. Meanwhile, the MLC (Freely Convertible Currency) also shows an upward movement, although its rate should be considered indicative due to the low transaction volume supporting it.
The U.S. dollar concluded Thursday at 798 Cuban pesos (CUP) on average in the informal market, reflecting a rise of 3 pesos since the previous day, when it stood at 795 CUP. Over the past week, the American currency has climbed 22.5 pesos from the 775 CUP it marked seven days ago, translating to a 2.9% increase.
Looking at a 30-day comparison, there's a surge of 100 pesos—from 698 CUP in mid-September—although this variation may partially reflect adjustments in the index methodology rather than just market movements.
Throughout the last month, the dollar has fluctuated between a low of 698 and a peak of 798 CUP, reached precisely today. It continues to set the pace in the informal market amid a structural scarcity of foreign currency.
The Euro's Dominance in the Parallel Market
The euro closed the day at 895 CUP, its average value at closing. Compared to the previous session, the European currency rose by 5 pesos from 890 CUP, marking a 0.6% advance.
In the past week, the euro has gained 28 pesos from the 867 CUP it was worth seven days ago, a 3.2% rise. Over 30 days, the increase is 100 pesos from 795 CUP; however, as with the dollar, this comparison should be approached cautiously due to potential methodological adjustments.
Today, the euro hit its highest point in the last 30 days, with a low during this period of 795 CUP. It surpasses the dollar by 97 pesos, solidifying its dominant position in Cuba's parallel market.
MLC's Limited Role in the Market
The MLC concluded around 637 CUP on average, though this figure should be taken as tentative given the limited transaction volume recorded during this time frame. According to data from the previous session, the MLC was at 587 CUP, indicating a jump of 50.5 pesos in just one day; such a substantial variation highlights the need to treat this data with caution.
Over the last week, it has risen 60.5 pesos from 577 CUP. Without physical existence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Official Exchange Rate Lagging Behind
Exchange Rates: USD to CUP: 798 CUP. EUR to CUP: 895 CUP. MLC to CUP: 637 CUP (indicative value, limited data). The official exchange rate set by the Central Bank of Cuba (Segment III), at 711 CUP per dollar and 790 CUP per euro, remains significantly lower than the practical rates in the informal currency market.
The gap between the official dollar rate and the informal one exceeds 87 pesos today; for the euro, the difference is 105 pesos. Although Segment III was introduced as a more flexible exchange mechanism, its official rate continues to fall far short of the informal market and fails to meet the real currency demand of the population.
In the past month, the official dollar rate has increased from 659 to 711 CUP and the official euro rate from 761 to 790 CUP, advances that are far from keeping pace with the parallel market.
In a scenario marked by sustained inflation, low state salaries, and increasing partial dollarization of the economy, every change in the informal market directly affects internal prices and the purchasing power of Cubans. Today's closing, with the dollar at its highest in the last 30 days and the euro at its peak over the same period, exacerbates the pressure on those who rely on the Cuban peso for daily expenses.
The CiberCuba Exchange Rate is an index of the Cuban informal market, created from automated analysis of thousands of currency exchange posts in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighing each transaction according to its age and consolidating a representative value updated several times a day.
USD to CUP Equivalent on Thursday, October 15, 2026: 1 USD = 798 CUP; 5 USD = 3,990 CUP; 10 USD = 7,980 CUP; 20 USD = 15,960 CUP; 50 USD = 39,900 CUP; 100 USD = 79,800 CUP.
EUR to CUP Equivalent on Thursday, October 15, 2026: 1 EUR = 895 CUP; 5 EUR = 4,475 CUP; 10 EUR = 8,950 CUP; 20 EUR = 17,900 CUP; 50 EUR = 44,750 CUP; 100 EUR = 89,500 CUP; 200 EUR = 179,000 CUP.
Understanding Cuba's Informal Currency Market
Why is the informal market rate for USD and EUR higher than the official rate in Cuba?
The informal market rates are higher due to the scarcity of foreign currency and the high demand among the Cuban population, which is not fully met by the official channels. This creates a significant gap between the official and informal rates.
What is the impact of the rising informal exchange rates on Cuban citizens?
Rising informal exchange rates increase the cost of living for Cubans, as many goods are priced in foreign currencies. This diminishes the purchasing power of those earning in Cuban pesos, exacerbating economic hardship.