As the clock struck 8:00 PM local time in Cuba, the informal foreign exchange market wrapped up this Wednesday, October 28, 2026, with both the U.S. dollar and the euro gaining ground against the Cuban peso.
The U.S. dollar ended the day averaging 858 pesos, while the euro climbed to 940 pesos. Meanwhile, the MLC hovered around 721 pesos, although this figure should be seen as an estimate due to the low volume of transactions supporting it.
The U.S. dollar's closing rate was 858 Cuban pesos (CUP), marking an increase of 7.5 pesos compared to the previous day when it closed at 850 CUP.
Over the past week, the dollar has risen by 35 pesos from 823 CUP, reflecting a 4.3% increase. A 30-day comparison reveals a 112.5 peso gain from 745 CUP a month ago. However, this data should be cautiously interpreted, as it may partly reflect adjustments in the index's methodology.
In the last 30 days, the dollar fluctuated between a high of 858 CUP and a low of 745 CUP, continuing to dictate the pace of the informal market amidst a structural shortage of foreign currencies.
The euro closed at 940 Cuban pesos (CUP), reaching its peak for the last 30 days. This represents an 8 peso increase from the previous day's 932 CUP, according to prior session data.
Throughout the past week, the euro has surged by 28 pesos from 912 CUP, a 3.1% rise. Thirty days ago, it traded around 850 CUP, though this comparison might reflect methodological variations. It outpaces the dollar by 82 pesos, reinforcing its dominance in Cuba's parallel market.
The MLC concluded around 721 Cuban pesos (CUP), though this value should be considered indicative due to the limited transaction volume at this time.
Compared to the previous session's 554 CUP, this represents a 167.5 peso increase, a 30.3% change that highlights the irregularity of available data rather than a genuine market movement.
A week ago, the MLC stood at 733 CUP, with fluctuations between a low of 457 CUP and a high of 742 CUP in the last 30 days. Lacking physical presence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange rates for October 28, 2026: USD to CUP: 858 CUP, EUR to CUP: 940 CUP, MLC to CUP: 721 CUP (indicative, limited data). The official Central Bank of Cuba exchange rate (Segment III) remains at a mere 754 CUP per dollar and 840 CUP per euro, far below the rates prevailing in the informal currency market.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rate remains disconnected from the informal market's reality and fails to meet the population's actual foreign currency demand.
The gap between the official exchange rate and the informal one is striking: 104 pesos for the dollar (754 CUP official vs. 858 CUP informal) and 100 pesos for the euro (840 CUP official vs. 940 CUP informal).
In an environment of persistent inflation, low state salaries, and increasing partial dollarization, fluctuations in the informal market significantly affect domestic prices and Cubans' purchasing power.
The dollar's continuous climb—up over 35 pesos in just a week—intensifies the hardships for those reliant on the Cuban peso for daily income.
The CiberCuba Exchange Rate is a measure of the Cuban informal market, created by analyzing thousands of automated foreign currency buy-sell listings on Telegram and Facebook groups. It weeds out atypical offers and spam, weighting each transaction by its currency and updating a representative value several times daily.
Currency conversion for October 28, 2026: U.S. Dollars (USD) to Cuban Pesos (CUP): 1 USD = 858 CUP, 5 USD = 4,290 CUP, 10 USD = 8,580 CUP, 20 USD = 17,160 CUP, 50 USD = 42,900 CUP, 100 USD = 85,800 CUP. Euros (EUR) to Cuban Pesos (CUP): 1 EUR = 940 CUP, 5 EUR = 4,700 CUP, 10 EUR = 9,400 CUP, 20 EUR = 18,800 CUP, 50 EUR = 47,000 CUP, 100 EUR = 94,000 CUP, 200 EUR = 188,000 CUP.
Understanding Cuba's Informal Currency Market Dynamics
Why is the informal market exchange rate higher than the official rate in Cuba?
The informal market exchange rate is higher due to a shortage of foreign currency and high demand, which the official rate fails to meet. This discrepancy leads to a parallel market where the rates reflect the actual supply and demand dynamics.
What impact does the rising dollar have on the Cuban economy?
The increasing dollar rate exacerbates inflation and reduces purchasing power for those earning in Cuban pesos. It further complicates the economic situation by driving up prices and increasing the cost of living.
How is the CiberCuba Exchange Rate calculated?
The CiberCuba Exchange Rate is determined through automated analysis of numerous foreign currency transactions listed on social media groups, excluding atypical offers and spam, and is updated multiple times daily to maintain accuracy.