As of 10:00 a.m. local Cuban time, the informal currency market in Cuba is experiencing a notable upward surge on the morning of Thursday, October 29, 2026. The US dollar is climbing sharply, the euro hits a new high for the last 30 days, and the MLC offers a tentative value that should be approached with caution due to the limited volume of transactions.
Currency Market Developments This Thursday
The US dollar is trading at 858 Cuban pesos (CUP) in the informal market, based on the average value recorded at the start of the day. This marks an increase of 8 pesos from the previous day when it closed at 850 CUP. The demand for dollars remains high as people seek to safeguard their savings against the depreciation of the peso.
The euro starts the day at 945 CUP, compared to 936 CUP as per the previous session's data. This represents an increase of 9 pesos in just one day. It surpasses the dollar by 87 pesos, reinforcing its dominant position in Cuba's parallel market.
The MLC is hovering around 724 CUP, with its value being indicative due to the limited volume of transactions recorded during this time frame. Compared to the previous day, the difference is an increase of 146.5 pesos, though this variation should be interpreted with caution. Being an electronic balance, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Weekly and Monthly Trends
This upward trend isn't just a one-day occurrence. Over the last week, the dollar has increased by 35 pesos, equating to a 4.3% rise from the 823 CUP a week ago. The euro has similarly climbed 32 pesos in the same period, from 913 CUP to the current 945, a 3.5% increase.
Looking at the 30-day perspective, the movement's magnitude becomes even more evident, though it's important to note that this comparison might partly reflect index methodology adjustments and not solely market movements. With that in mind, the dollar has risen by 110 pesos from 748 CUP a month ago, a 14.7% increase. The euro has gained 93 pesos over the same period, from 852 CUP to the current 945, a 10.9% rise. The MLC, as a guideline, has seen a variation of 216 pesos in 30 days.
Peak Values and Market Context
Today's values represent the highest levels recorded in the last 30 days for the dollar and the euro. The dollar reaches its peak at 858 CUP, while the minimum over the period was 749 CUP. Similarly, the euro hits its ceiling at 945 CUP, with a floor of 852 CUP in the same timeframe. The MLC, based on available data, has fluctuated between a low of 457 CUP and a high of 742 CUP over the past 30 days. Its current value of 724 CUP remains below that maximum, though it should be interpreted cautiously due to its low transaction volume.
Exchange Rate Summary
Exchange rate of the US dollar (USD) to CUP: 858 CUP.
Exchange rate of the euro (EUR) to CUP: 945 CUP.
Exchange rate of MLC to CUP: 724 CUP (indicative value, limited data).
Gap Between Informal and Official Exchange Rates
The official exchange rate from the Central Bank of Cuba (Segment III), at 758 CUP per dollar and 844 CUP per euro, remains below the values recorded in the informal currency market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate continues to be distant from the informal market. The gap between both markets is 100 pesos for the dollar and 101 pesos for the euro.
In a scenario of sustained inflation, low state salaries, and increasing partial dollarization of the economy, fluctuations in the informal market can impact internal prices and the purchasing power of Cubans.
Methodology
The CiberCuba Exchange Rate is an index of the Cuban informal market developed by CiberCuba through automated analysis of thousands of currency trade postings in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighs each operation based on its age, and consolidates a representative value updated several times a day.
Currency Conversion Examples
Equivalence of United States (USD) bills to Cuban pesos (CUP), according to exchange rates for Thursday, October 29, 2026:
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
Equivalence of euro (EUR) bills to Cuban pesos (CUP), based on exchange rates for Thursday, October 29, 2026:
1 EUR = 945 CUP
5 EUR = 4,725 CUP
10 EUR = 9,450 CUP
20 EUR = 18,900 CUP
50 EUR = 47,250 CUP
100 EUR = 94,500 CUP
200 EUR = 189,000 CUP
Understanding Cuba’s Informal Currency Market Dynamics
Why are the US dollar and euro in high demand in Cuba?
The high demand for the US dollar and euro in Cuba is primarily driven by the desire to protect savings from the ongoing depreciation of the Cuban peso and the country's partial dollarization.
What is the significance of the informal currency market in Cuba?
The informal currency market in Cuba plays a crucial role as it often provides a more accurate reflection of the peso's value compared to the official exchange rates, impacting the economy and the purchasing power of citizens.