By 8:00 PM local time in Cuba, the informal currency market wrapped up Tuesday's trading session with mixed outcomes: the US dollar remained unchanged for the second day in a row, the euro experienced a decline, and the MLC saw a slight uptick compared to the previous day.
The day's results highlight a moment of relative stability for the US dollar, which has been on a consistent upward trend for weeks, while the euro lost some of its recent gains.
The Dollar's Position in the Market
The US dollar closed at an average of 673 Cuban pesos (CUP), with a buying rate of 670 CUP and a selling rate of 675 CUP. This stability reinforces its position after recent advances. Over the past week, the dollar has increased by five pesos from 668 CUP seven days ago.
Looking at the past 30 days, the dollar started at 610 CUP. However, this figure should be interpreted cautiously as it might reflect changes in index methodology. Over the past month, the dollar fluctuated between a low of 610 CUP and a high of 675 CUP, continuously setting the pace in the informal market amid a structural currency shortage.
Euro's Performance in Decline
The euro ended the day at an average of 785 CUP, with a buying rate of 780 CUP and a selling rate of 790 CUP. This represents a drop of five pesos compared to the previous day when it was at 790 CUP. Despite this setback, the euro maintains its advantage over the dollar, having risen ten pesos from its value of 775 CUP a week ago. In the last month, the euro has reached a peak of 790 CUP and a low of 689 CUP. It remains the most expensive currency in Cuba's parallel market, surpassing the dollar by 112 pesos.
MLC's Modest Rise
The MLC closed around 473 CUP on average, with a buying rate of 438 CUP and a selling rate of 508 CUP. This should be considered an approximate value due to the low volume of transactions during this time. Compared to the previous day, it made a slight gain of two pesos. Over the past week, it has increased by 3.5 pesos from 470 CUP seven days ago. Without physical existence, its use is limited to state-run stores that accept it, restricting its circulation compared to cash currencies.
Understanding the Official Exchange Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) is 601 CUP per dollar and 684 CUP per euro, significantly below the rates observed in the day-to-day informal currency market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from the informal market's, failing to meet the real currency demand of the populace. The gap between the official dollar rate (601 CUP) and the informal rate (673 CUP) exceeds 70 pesos, while the euro's difference between the official rate of 684 CUP and the parallel market's 785 CUP approaches 100 pesos.
In an environment of sustained inflation, low state wages, and increasing partial dollarization of the economy, each shift in the informal market directly affects domestic prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of Cuba's informal market created through the automated analysis of thousands of currency trading posts in Telegram and Facebook groups; the calculation discards atypical offers and spam messages, weighs each transaction according to its age, and consolidates a representative value that is updated multiple times a day.
Currency Conversion Examples
USD to CUP conversion: On Tuesday, July 28, 2026, the rates are as follows: 1 USD = 673 CUP, 5 USD = 3,365 CUP, 10 USD = 6,730 CUP, 20 USD = 13,460 CUP, 50 USD = 33,650 CUP, 100 USD = 67,300 CUP.
EUR to CUP conversion: On the same date, the rates are: 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.
Frequently Asked Questions about Cuba's Informal Currency Market
Why is the informal market rate different from the official rate in Cuba?
The informal market rate differs due to the high demand and limited supply of foreign currencies in Cuba, which the official rate does not adequately reflect.
How does the euro compare to the dollar in the informal market?
In the informal market, the euro is currently more valuable than the dollar, trading at a higher rate due to its demand and limited availability.
What factors are influencing the stability of the US dollar in the Cuban market?
The US dollar's stability is influenced by its sustained demand and the structural scarcity of foreign currency in Cuba.