On Wednesday, November 11, 2026, at 8:00 PM local time in Cuba, the informal currency market wrapped up the day with mixed results.
The U.S. dollar (USD) experienced a slight decline, while the euro (EUR) saw a significant uptick. Meanwhile, the MLC (a digital currency used in Cuban state-run stores) showed a drop, though data should be approached cautiously due to limited availability.
The Dollar's Performance
At the close of Wednesday, the U.S. dollar was valued at 908 Cuban pesos (CUP), marking a decrease of 2.5 pesos from the previous day's rate of 910 CUP. Over the past week, the dollar has fallen by 7.5 pesos from its value of 915 CUP seven days ago. Comparing it to a month ago, when it stood at 788 CUP, there's a noteworthy increase of 120 pesos. However, this change partly reflects adjustments in the index methodology rather than purely market dynamics.
Euro's Remarkable Gain
The euro finished the day at 985 CUP, an increase of 9.5 pesos from 976 CUP the day before. Despite this daily rise, the euro has actually decreased by 10.5 pesos over the past week from 996 CUP. When looking back 30 days, the euro was at 885 CUP, resulting in a 100-peso increase, subject to similar methodological considerations.
Over the past month, the euro has fluctuated, reaching a high of 1,010 CUP and a low of 885 CUP. It currently outperforms the dollar by 77 pesos, solidifying its dominant position in Cuba's parallel market.
MLC's Fluctuations
The MLC closed around 628 CUP, though this value is mainly indicative due to scarce data at this hour. Compared to the previous day, the digital currency fell by 10 pesos from 638 CUP. Over the last week, the decline is more pronounced, as it was 758 CUP seven days ago, indicating a drop of 130.5 pesos. The MLC's use is restricted to state-run stores that accept it, limiting its circulation compared to physical currencies.
Exchange Rate Context
The exchange rate for USD to CUP stands at 908 CUP, EUR to CUP at 985 CUP, and MLC to CUP at an indicative 628 CUP. The official exchange rate from Cuba's Central Bank (Segment III) remains significantly lower at 813 CUP per dollar and 909 CUP per euro, failing to reflect the practical realities of the informal market.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rates remain detached from the informal market, unable to meet the real currency demand among Cubans.
This gap between official and informal rates highlights the persistent shortage of foreign currency within the state banking system and the high demand for dollars and euros by the public for emigration, importing goods, savings protection, or private sector purchases.
In an environment of sustained inflation, low state wages, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects domestic prices and Cubans' purchasing power.
The CyberCuba Exchange Rate is an index of Cuba's informal market, created through automated analysis of thousands of currency exchange postings in Telegram and Facebook groups. It discards atypical offers and spam, weighs each transaction by age, and consolidates a representative value updated multiple times a day.
Currency Conversion Examples
Conversion of U.S. Dollars (USD) to Cuban Pesos (CUP), based on rates for Wednesday, November 11, 2026:
- 1 USD = 908 CUP
- 5 USD = 4,538 CUP
- 10 USD = 9,075 CUP
- 20 USD = 18,150 CUP
- 50 USD = 45,375 CUP
- 100 USD = 90,750 CUP
Conversion of Euros (EUR) to Cuban Pesos (CUP), based on rates for Wednesday, November 11, 2026:
- 1 EUR = 985 CUP
- 5 EUR = 4,925 CUP
- 10 EUR = 9,850 CUP
- 20 EUR = 19,700 CUP
- 50 EUR = 49,250 CUP
- 100 EUR = 98,500 CUP
- 200 EUR = 197,000 CUP
Understanding Cuba's Informal Currency Market Dynamics
Why is there a significant difference between official and informal exchange rates in Cuba?
The gap between official and informal exchange rates is largely due to the scarcity of foreign currencies in Cuba's state banking system and the high demand among citizens for dollars and euros for various needs, including emigration, importing goods, and safeguarding savings.
How does the informal currency market impact the Cuban economy?
Fluctuations in the informal currency market directly affect domestic prices and the purchasing power of Cubans, especially in a context of ongoing inflation, low state wages, and partial dollarization of the economy.