At 8:00 PM local time in Cuba, the informal currency market concluded its activities on Tuesday, August 25, presenting a scene of relative tranquility. The US dollar remained unchanged from the previous day, holding steady at 668 Cuban pesos. Meanwhile, the euro experienced a slight rise, reaching 755 pesos compared to 753 on Monday. The MLC, on the other hand, is tentatively pegged at approximately 472 pesos, though this figure should be approached cautiously due to the low transaction volume during this time frame.
Dollar's Stability Amid Limited Currency Supply
Closing at 668 pesos, the US dollar maintains its position, aligning with the highest levels observed in recent weeks. Just a week ago, it was trading at 663 pesos, reflecting a weekly gain of 5 pesos (+0.8%). Over the past month, the dollar slightly dipped from 673 pesos, a movement that might be partially due to index methodology adjustments. Throughout the last 30 days, the dollar has fluctuated between a low of 663 and a high of 674 pesos, continuing to dictate the pace of the informal market amidst a persistent currency shortage.
Euro's Increment in the Parallel Market
The euro concluded the day at 755 pesos, marking an increase of 2.5 pesos from the previous session when it stood at 753 pesos. On a weekly scale, the euro has seen a minor decline from 757 pesos seven days ago. Over the past month, the euro has decreased more notably from 789 pesos to its current rate, which could also be influenced by methodological adjustments. Its monthly range spans from a low of 746 to a high of 790 pesos. The euro surpasses the dollar by 87 pesos, reinforcing its leading position in Cuba's parallel market.
MLC's Tentative Position Reflects Market Caution
The MLC is suggestively valued at 472 pesos, a figure to be viewed with skepticism due to limited market operations at this hour. Compared to the previous day, it rose by 15 pesos (+3.3%), accumulating a weekly increase of 10.5 pesos (+2.3%). Over the past month, it has dropped from 491 pesos, possibly reflecting methodological adjustments. The MLC's monthly range stretches between 408 and 529 pesos. Lacking physical currency, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Disparity Between Official and Informal Exchange Rates
The exchange rate for the US dollar stands at 668 CUP, the euro at 755 CUP, and the MLC at 472 CUP (a tentative figure with limited data). The official exchange rate set by the Central Bank of Cuba (Segment III) is significantly lower, at 638 CUP per dollar and 744 CUP per euro. This creates a gap of 30 pesos for the dollar and 11 pesos for the euro compared to the informal market at Tuesday's close.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rate remains far from the informal market's reality and fails to meet the population's actual currency demand. In the past month, the official dollar rate has increased from 601 to 638 pesos, and the euro from 684 to 744 pesos, highlighting a consistent depreciation of the Cuban peso even in official channels.
In a context of sustained inflation, low state salaries, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans. Tuesday's closure, with the dollar stable and the euro rising, underscores the ongoing tension between limited currency supply and unrelenting demand.
The CiberCuba Exchange Rate is an index of Cuba's informal market, derived from automated analyses of thousands of currency exchange listings in Telegram and Facebook groups. This calculation discards atypical offers and spam, weighs each transaction by its age, and consolidates a representative value updated several times a day.
Currency Conversion Rates
US Dollar (USD) to Cuban Peso (CUP) conversion rates as of Tuesday, August 25, 2026:
- 1 USD = 668 CUP
- 5 USD = 3,340 CUP
- 10 USD = 6,680 CUP
- 20 USD = 13,360 CUP
- 50 USD = 33,400 CUP
- 100 USD = 66,800 CUP
Euro (EUR) to Cuban Peso (CUP) conversion rates as of Tuesday, August 25, 2026:
- 1 EUR = 755 CUP
- 5 EUR = 3,775 CUP
- 10 EUR = 7,550 CUP
- 20 EUR = 15,100 CUP
- 50 EUR = 37,750 CUP
- 100 EUR = 75,500 CUP
- 200 EUR = 151,000 CUP
Understanding Cuba's Informal Currency Market Dynamics
Why does the informal currency market have different rates than the official ones?
The informal market often reflects real supply and demand, which the official rates fail to meet, leading to discrepancies between the two.
How does the MLC function in Cuba's economy?
The MLC is used in state-run stores for specific goods, although it lacks physical existence, limiting its circulation compared to cash currencies.
What is the impact of currency fluctuations on the Cuban economy?
Fluctuations in the informal market affect internal prices and the purchasing power of Cubans, especially in a context of inflation and low wages.