By 8:00 PM local Cuban time, the informal currency market in Cuba concluded its trading session on Sunday, August 30, 2026, with both the dollar and the euro trending upward. The U.S. dollar ended the day at 676 Cuban pesos, while the euro climbed to 765 pesos. The MLC, despite limited data and a mainly indicative value, held steady at approximately 466 pesos. These figures are part of the ongoing monitoring of exchange rates in Cuba's informal market.
U.S. Dollar Gains Ground
The U.S. dollar closed the day at 676 Cuban pesos (CUP), marking a 1 peso increase from the previous day when it stood at 675 CUP. Over the past week, the dollar has gained 11 pesos from its previous level of 665 CUP, representing a 1.7% rise. When viewed over a 30-day period, the current rate is only 3.5 pesos higher than the 673 CUP observed a month ago. Over the last month, the dollar has fluctuated between a low of 663 and a high of 677 pesos in the informal market. A high demand for dollars persists among those seeking to safeguard their savings from the peso's depreciation.
Euro's Stronger Ascent
The euro advanced more robustly, closing the day at 765 Cuban pesos (CUP). This marks a 2.5 peso increase compared to the previous day, when the European currency was at 763 CUP. Over the week, the euro has risen 13 pesos from its prior level of 752 CUP, a 1.7% increase. Compared to 30 days ago, the current rate is 20 pesos lower than the 785 CUP of that time, although this comparison might be influenced by methodological adjustments in the index. In the past month, the euro has reached a peak of 788 and a low of 746 pesos in the parallel market. It surpasses the dollar by 89 pesos, reinforcing its dominant position in Cuba's informal market.
MLC Remaining Stable
The MLC closed around 466 Cuban pesos (CUP), with this figure being indicative due to limited data availability at this time. It remained largely unchanged from the previous day, when it was at 467 CUP. On a weekly basis, the MLC saw an increase of 17 pesos from the 449 CUP of seven days ago, a 3.8% rise. Without a physical presence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Official vs. Informal Exchange Rates
The exchange rate for the USD to CUP is 676 CUP, while the EUR to CUP rate is 765 CUP. The MLC to CUP rate is 466 CUP (indicative, limited data). The official exchange rates set by the Central Bank of Cuba (Segment III) were 634 CUP per dollar and 735 CUP per euro on this Sunday, significantly lower than the practical values seen in the informal market. The gap between the official and informal rates for the dollar exceeds 40 pesos, while for the euro, the difference is around 30 pesos.
Despite being introduced as a more flexible exchange mechanism, Segment III's official rates remain far from those in the informal market and fail to meet the real demand for foreign currencies among the population. Notably, the official dollar rate has risen from 611 CUP on July 31 to the current 634 CUP, reflecting a consistent depreciation of the peso in the official channel as well.
In an environment characterized by persistent inflation, low state salaries, and increasing partial dollarization of the economy, any fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate Index is a measure of Cuba's informal market, developed through automated analysis of thousands of currency buy-sell postings on Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighing each transaction according to its recency and consolidating a representative value updated several times daily.
Currency Equivalences:
U.S. Dollar (USD) to Cuban Peso (CUP) — August 30, 2026: 1 USD = 676 CUP 5 USD = 3,380 CUP 10 USD = 6,760 CUP 20 USD = 13,520 CUP 50 USD = 33,800 CUP 100 USD = 67,600 CUP
Euro (EUR) to Cuban Peso (CUP) — August 30, 2026: 1 EUR = 765 CUP 5 EUR = 3,825 CUP 10 EUR = 7,650 CUP 20 EUR = 15,300 CUP 50 EUR = 38,250 CUP 100 EUR = 76,500 CUP 200 EUR = 153,000 CUP
Understanding Cuba's Informal Currency Market
What causes the gap between official and informal exchange rates in Cuba?
The disparity between official and informal exchange rates in Cuba is largely due to the high demand for foreign currencies in the informal market, which is not met by the official channels. Additionally, the official rates are often set below the market value, leading to a significant gap.
How does the informal currency market impact Cuban citizens?
Fluctuations in the informal currency market directly affect the cost of goods and services in Cuba, influencing inflation and reducing the purchasing power of Cuban citizens who often rely on this market for foreign currency exchanges.
Why is the euro stronger than the dollar in Cuba's informal market?
The euro's strength over the dollar in Cuba's informal market can be attributed to its higher demand and perceived stability compared to the U.S. dollar, as well as the economic relationships Cuba has with European countries.