This Wednesday, November 11, 2026, the informal currency exchange market in Cuba opens with mixed signals. The U.S. dollar has dropped by five pesos compared to yesterday, whereas the euro has surged nearly ten pesos.
Current Exchange Rates Overview
As of 10:00 a.m. local time in Cuba, the U.S. dollar is trading at 908 Cuban pesos (CUP) on the informal market. This represents a five-peso decline from the previous day when it was at 913 CUP. Over the last week, the dollar has decreased by six pesos (-0.7%) from the 914 CUP recorded seven days ago.
Despite this short-term drop, the dollar remains significantly higher than it was a month ago. Comparing 30-day figures, there is a 122.5 peso increase, although this change may in part reflect methodological adjustments in the index rather than purely market movements. In the past month, the dollar has fluctuated between a low of 785 CUP and a high of 940 CUP.
Euro's Upswing
The euro starts this Wednesday trading at 983 CUP, marking a rise of 9.5 pesos from the previous session when it stood at 974 CUP. However, on a weekly basis, the euro has seen a decline of 11.5 pesos (-1.2%) from the 995 CUP of a week ago.
Comparing over the past month, the euro has gained 103 pesos, although like the dollar, some of this difference could be due to index adjustments. Over the last 30 days, the euro has ranged from a low of 880 CUP to a high of 1,010 CUP. It currently stands as the most expensive currency in Cuba's parallel market, surpassing the dollar by 75 pesos.
Freely Convertible Currency (MLC) Status
The MLC trades around 640 CUP this Wednesday, though this should be seen as a reference point due to the limited trading volume at this time. Compared to the previous day, the MLC has fallen by 47 pesos (-6.8%) from 687 CUP. Over the past week, it has dropped by 52 pesos (-7.5%) from 692 CUP. In the last month, it has varied between a low of 507 CUP and a high of 795 CUP. Without physical form, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Official vs. Informal Exchange Rates
The official exchange rate from the Central Bank of Cuba (Segment III) is set today at 813 CUP per dollar and 909 CUP per euro, significantly lower than the rates in the informal currency market. The gap between the two markets exceeds 95 pesos for the dollar and 74 pesos for the euro.
Although Segment III was 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 currency among the populace. Over the past month, the official dollar rate has increased from 702 to 813 CUP, and the euro from 783 to 909 CUP, reflecting a sustained devaluation of the peso in the official channel as well.
Economic Context and Impacts
The disparity between official and unofficial rates highlights the ongoing scarcity of foreign currency in the state banking system and the high demand for dollars and euros among Cubans, whether for emigration, importing goods, safeguarding savings, or making purchases in the private sector. In a setting marked by persistent inflation, low state wages, and increasing partial dollarization of the economy, any fluctuation in the informal market directly impacts domestic prices and the purchasing power of the Cuban people.
Currency Exchange Equivalencies
Based on the exchange rates for this Wednesday, November 11, 2026:
U.S. Dollar to Cuban Peso:
- 1 USD = 908 CUP
- 5 USD = 4,540 CUP
- 10 USD = 9,080 CUP
- 20 USD = 18,160 CUP
- 50 USD = 45,400 CUP
- 100 USD = 90,800 CUP
Euro to Cuban Peso:
- 1 EUR = 983 CUP
- 5 EUR = 4,915 CUP
- 10 EUR = 9,830 CUP
- 20 EUR = 19,660 CUP
- 50 EUR = 49,150 CUP
- 100 EUR = 98,300 CUP
- 200 EUR = 196,600 CUP
Methodology Behind Exchange Rate Calculation
The Exchange Rate Index from CiberCuba is a reflection of the Cuban informal market, derived from automated analysis of thousands of currency exchange posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weights each transaction by its age, and consolidates a representative value that is updated multiple times a day.
Understanding Cuba's Currency Exchange Challenges
Why is the informal exchange rate higher than the official rate in Cuba?
The informal exchange rate is higher due to the scarcity of foreign currency in the official banking system and the high demand among Cubans for dollars and euros to meet various needs such as emigration, importing goods, or safeguarding savings.
How does the fluctuation in the informal market affect Cubans?
Fluctuations in the informal market directly impact domestic prices and the purchasing power of Cubans, especially in a context of persistent inflation and low state wages.
What role does the Freely Convertible Currency (MLC) play in Cuba's economy?
The MLC is used primarily in state-run stores that accept it, limiting its circulation compared to cash currencies. It provides a means of transaction in a dollarized segment of the economy.