At 10:00 a.m. local time in Cuba, the informal currency market opens this Friday, July 31, witnessing a mixed start: the U.S. dollar remains unchanged for the third consecutive day, the euro experiences a slight decrease, and the MLC loses some ground.
Overall, the market enters the last day of July with relative stability, despite significant increases over the past month.
The U.S. dollar is trading at 673 Cuban pesos (CUP) in the informal market, with buying rates around 670 CUP and selling rates approximately 675 CUP. This reflects no change from the previous day or the last week, indicating short-term stability.
However, looking at the monthly trend, it's a different story: 30 days ago, the dollar was about 620 pesos, indicating a rise of roughly 53 pesos, or an 8.5% increase—though it's important to consider potential methodological adjustments in the index.
Over the past month, the dollar has fluctuated between a low of 620 CUP and a high of 675 CUP, continuing to influence the informal market amid a structural currency shortage.
Euro's Performance in the Cuban Market
The euro is trading at 785 CUP, with a purchase rate of about 780 CUP and a selling rate near 790 CUP. This marks a drop of 1 peso from the previous day when it stood at 786 CUP, though the change is minimal.
On a weekly basis, the euro has gained ground: seven days ago, it was at 778 CUP, marking an increase of 7 pesos, or a 0.9% advance. Over the month, the increase is even more pronounced: 30 days ago, the euro was around 704 pesos, compared to the current 785, a difference of over 81 pesos. It outpaces the dollar by 112 pesos, solidifying its lead in Cuba's parallel market.
MLC Trends and Observations
The MLC is valued at approximately 475 CUP, with buying rates near 449 CUP and selling rates close to 501 CUP. This represents a decrease of 3 pesos from the previous session, when it was at 478 CUP.
In the last week, the MLC has fallen an additional 6.5 pesos, accumulating a 13-peso decline over the past month. However, caution is advised when interpreting these figures: the MLC shows limited trading volume at this time, making its rate more of a guideline.
Without physical existence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange rate for the U.S. dollar (USD) to CUP: 673 CUP. Exchange rate for the euro (EUR) to CUP: 785 CUP. MLC to CUP: 475 CUP (indicative value, limited data). The official exchange rate from the Central Bank of Cuba (Segment III), at 611 CUP per dollar and 704 CUP per euro, remains significantly below the practical rates seen in the informal currency market.
Although Segment III was introduced as a more adaptable exchange mechanism, its official rates are far from aligning with the informal market's and fail to meet the public's actual currency demand.
The gap between the official dollar rate (611 CUP) and the informal one (673 CUP) exceeds 62 pesos; for the euro, the difference between the official 704 CUP and the informal 785 CUP is nearly 81 pesos.
In a scenario of persistent inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans.
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 dismisses atypical offers and spam messages, weighting each transaction by its age and consolidating a representative value updated multiple times a day.
U.S. Dollar (USD) to Cuban Peso (CUP) equivalence, based on exchange rates for this Friday, July 31, 2026: 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.
Euro (EUR) to Cuban Peso (CUP) equivalence, based on exchange rates for this Friday, July 31, 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 exchange rate significantly different from the official rate in Cuba?
The informal exchange rate in Cuba diverges from the official rate due to a high demand for foreign currency that the official channels cannot meet. This results in a thriving black market where rates are determined by actual supply and demand.
How does the exchange rate affect the purchasing power of Cubans?
Fluctuations in the exchange rate directly influence the cost of goods and services in Cuba, impacting the purchasing power of its citizens. An increase in the informal exchange rate can lead to higher prices, reducing the affordability of essential items for the average Cuban.
What is the role of the MLC in Cuba's economy?
The MLC is a digital currency used in Cuba, primarily for transactions in state-run stores. It does not have a physical form and is less accessible compared to cash currencies, limiting its use outside designated retail environments.