The informal currency market in Cuba has hit a significant milestone this Thursday, with the euro breaching the 1,000 pesos mark, while the dollar also experienced a price hike in recent hours.
As of 10:00 a.m. local Cuban time, the U.S. dollar climbed to 920 Cuban pesos, with the euro reaching 1,000 pesos. The Freely Convertible Currency (MLC) is hovering around 685 pesos, though this figure should be considered as a guideline due to the limited volume of transactions recorded at this time.
Exchange Rate Summary
U.S. Dollar (USD) to Cuban Peso (CUP): 920 CUP
Euro (EUR) to Cuban Peso (CUP): 1,000 CUP
MLC to Cuban Peso (CUP): 685 CUP (indicative value, limited data)
U.S. Dollar Trends
The dollar's exchange rate at 920 Cuban pesos marks an increase of 6.5 pesos from the previous day when it was valued at 914 CUP. Over the past week, the dollar has risen by 62 pesos, which is a 7.2% increase compared to 858 CUP a week ago.
In a 30-day comparison, the U.S. dollar has climbed by 150 pesos. However, this monthly analysis might partly reflect methodological adjustments of the index, not solely market movements. The dollar has fluctuated between a high of 920 CUP (the current level) and a low of 768 CUP within the last month.
Euro's Climb
The euro is currently valued at 1,000 Cuban pesos, hitting a significant psychological benchmark in the informal market. This represents a five pesos increase compared to the previous session, where it averaged 995 CUP.
Over the past week, the euro has increased by 52.5 pesos, equating to a 5.5% rise from 947 CUP seven days ago. In the last month, the euro has ranged from a low of 860 CUP to the current high of 1,000 CUP, though monthly comparisons should be approached with caution due to potential index adjustments.
The euro outpaces the dollar by 80 pesos, solidifying its dominant position in Cuba's parallel market.
MLC Market Dynamics
The MLC is trading around 685 Cuban pesos, though this value is indicative given the low transaction volume recorded. This marks a decrease of seven pesos compared to the previous day when it stood at 692 CUP.
Over the past week, the MLC has dropped by 40.5 pesos, a 5.6% decrease from the 725 CUP traded a week ago. Within the past month, it has swung between a high of 795 CUP and a low of 496 CUP.
Gap Between Informal and Official Rates
The official exchange rate from the Central Bank of Cuba (Segment III) stands at 788 CUP per dollar and 885 CUP per euro, which is significantly lower than the rates prevailing in the day-to-day reality of the informal exchange market.
The disparity between the official and informal rates exceeds 130 pesos for the dollar and 115 pesos for the euro. Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from satisfying the real currency demand of the populace.
Notably, the official dollar rate increased from 695 CUP at the start of October to 788 CUP this Thursday, reflecting a continued devaluation of the peso even in the official channel.
Amid sustained inflation, low state salaries, and increasing partial dollarization of the economy, any fluctuations in the informal market have a direct impact on internal prices and Cuban purchasing power.
Currency Equivalencies
According to exchange rates this Thursday, November 5, 2026:
U.S. Dollar (USD) to Cuban Peso (CUP)
1 USD = 920 CUP
5 USD = 4,600 CUP
10 USD = 9,200 CUP
20 USD = 18,400 CUP
50 USD = 46,000 CUP
100 USD = 92,000 CUP
Euro (EUR) to Cuban Peso (CUP)
1 EUR = 1,000 CUP
5 EUR = 5,000 CUP
10 EUR = 10,000 CUP
20 EUR = 20,000 CUP
50 EUR = 50,000 CUP
100 EUR = 100,000 CUP
Methodology
The CiberCuba Exchange Rate is an index of the Cuban informal market, compiled through automated analysis of thousands of currency exchange posts in Telegram and Facebook groups. The calculation discards atypical offers and spam, weighing each transaction based on its recency to consolidate a representative value that updates several times a day.
Understanding Cuba's Currency Market Fluctuations
Why is the euro so dominant in Cuba's informal market?
The euro has become dominant due to its higher valuation against the Cuban peso and its perceived stability compared to the dollar, making it a preferred currency for transactions in the informal market.
What causes the difference between official and informal exchange rates in Cuba?
The disparity arises from the limited availability of foreign currency at official rates, leading people to seek more realistic rates in the informal market, which better reflect supply and demand dynamics.
How does the exchange rate impact Cuba’s economy?
Fluctuations in the exchange rate affect inflation and the cost of goods, impacting the purchasing power of Cuban citizens, as many products are priced based on informal currency rates.