As of 8:00 p.m. local time in Cuba, the informal currency market wraps up on Friday, July 24, showcasing a notable rise in the values of both the dollar and the euro.
These currencies have ended the day on a high note, continuing an upward trend that has persisted throughout the week.
Meanwhile, the MLC has experienced a minor dip since yesterday, although its rate should be regarded as a guideline due to the limited transaction volume backing it.
You can explore the historical data and real-time developments of the exchange rates in Cuba's informal market.
The US Dollar's Trajectory
The US dollar concludes this Friday with an average value of 674 Cuban pesos (CUP), marking an increase of 3.5 pesos from the previous day's rate of 670 CUP. The American currency has steadily gained ground over the week; seven days ago, it was trading at 660 pesos, representing a rise of 13.5 pesos over that period, equivalent to a 2% increase.
On a monthly scale, the dollar is slightly under the 680 pesos mark it reached 30 days ago. However, this comparison should be approached cautiously, as it may reflect methodological adjustments in the index as well as actual market movements.
Over the past 30 days, the dollar has fluctuated between a low of 610 and a high of 680 pesos in the informal market. It continues to be a key indicator in a context of persistent currency shortages.
Euro's Prominent Gains
The euro finishes the day at 785 Cuban pesos (CUP), up by 7 pesos from the previous session, when it was valued at 778 CUP. It registers the most significant gains of the day in both absolute and percentage terms, with a 0.9% increase compared to yesterday.
In the past week, the euro has climbed 30 pesos from 755 CUP, marking a 4% rise, solidifying its status as the most expensive currency in Cuba's parallel market.
Compared to 30 days ago, when it hovered around 790 pesos, the difference is minimal and may be attributed to methodological variations in the index. The euro's monthly range has been between 688 and 790 pesos, maintaining a lead over the dollar by 111 pesos in the informal market.
MLC's Market Position
The MLC closes this Friday with an indicative value of 470 Cuban pesos (CUP), a drop of 2.5 pesos from the previous day's 473 CUP.
This reference should be taken with caution, given the low transaction volume that supports its rate during this time frame. However, over the past week, the MLC has risen 36 pesos from 434 CUP, an 8.3% increase.
Looking back a month, the decline is significant: 30 days ago, it was trading at 532 pesos, although part of this variation may reflect methodological adjustments in the index.
The MLC's monthly range has spanned between 399 and 543 pesos. Without a physical presence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Summary of Cuba's Informal Exchange Rates — Close of July 24, 2026
Exchange rate for USD to CUP: 674 CUP.
Exchange rate for EUR to CUP: 785 CUP.
Exchange rate for MLC to CUP: 470 CUP (indicative value, limited data).
The official exchange rate set by the Central Bank of Cuba (Segment III) remains substantially lower at 598 CUP per dollar and 680 CUP per euro compared to the rates prevalent in the everyday informal currency market.
The gap between the official and informal dollar rates exceeds 76 pesos, while the euro sees a difference of 105 pesos.
Despite being introduced as a more flexible exchange mechanism, the Segment III's official rate remains far from the informal market's rate and fails to meet the population's real currency demand.
Over the last month, the official dollar rate has risen from 574 to 598 CUP, and the euro's official rate has moved from 653 to 680 CUP, adjustments that have not managed to bridge the gap with the parallel market.
In an environment of persistent inflation, low state salaries, and increasing partial dollarization of the economy, any change in the informal market has a direct impact on internal prices and the purchasing power of Cubans.
The simultaneous rise of the dollar and euro this Friday intensifies the pressure on the Cuban peso, making everyday transactions that depend on foreign currencies even more expensive.
The CiberCuba Exchange Rate is an index of the Cuban informal market created through automated analysis of thousands of currency trading posts in Telegram and Facebook groups.
The calculation excludes atypical offers and spam messages, weighs each transaction according to its age, and consolidates into a representative value updated multiple times daily.
Currency Conversion Rates
Conversion of US Dollar bills (USD) to Cuban Peso (CUP), based on this Friday's exchange rates, July 24, 2026:
1 USD = 674 CUP
5 USD = 3,370 CUP
10 USD = 6,740 CUP
20 USD = 13,480 CUP
50 USD = 33,700 CUP
100 USD = 67,400 CUP
Conversion of Euro bills (EUR) to Cuban Peso (CUP), based on this Friday's exchange rates, July 24, 2026:
1 EUR = 785 CUP
5 EUR = 3,925 CUP
10 EUR = 7,850 CUP
20 EUR = 15,700 CUP
50 EUR = 39,250 CUP
100 EUR = 78,500 CUP
200 EUR = 157,000 CUP
Understanding Cuba's Informal Currency Market
Why is the informal currency market important in Cuba?
The informal currency market is crucial in Cuba because it reflects the real demand and supply dynamics for foreign currencies, which are not met by the official rates. It directly influences the cost of living and purchasing power of the population.
What causes the gap between official and informal exchange rates?
The gap is caused by the Cuban government's inability to provide enough foreign currency to meet demand. This shortage results in higher prices in the informal market, where real exchange rates are determined by supply and demand.
How does the informal market affect everyday transactions?
Fluctuations in the informal market directly impact everyday transactions, as many goods and services are priced according to these exchange rates, affecting inflation and the cost of imported goods.