At 10:00 a.m. local Cuban time, the informal currency market in Cuba opened on Thursday, September 3, with a varied outlook. The U.S. dollar remains stable compared to the previous day, while the euro has resumed its upward trend, and the MLC has shown a significant increase, though with limited transaction backing.
The U.S. dollar is being exchanged at an average rate of 678 Cuban pesos (CUP), the euro has risen to 773 CUP, and the MLC stands around 479 CUP, a figure that should be viewed as indicative.
Weekly Dollar Trends Indicate a Gradual Increase
The U.S. dollar is currently valued at 678 CUP in the informal market, with buy and sell spreads at 675 CUP and 680 CUP, respectively. This represents no change from the previous session, indicating temporary stability at the opening. However, the weekly trend tells a different story: one week ago, the dollar was exchanged at 670 CUP, marking an 8-peso increase over that period, equivalent to a 1.1% uptick. Over the past month, the dollar was valued at 673 CUP, although this comparison may partly reflect index methodology adjustments. The past 30 days have seen a peak at the current level of 678 CUP and a low of 663 CUP. The dollar continues to steer the informal market amid a structural currency scarcity.
Euro Gains Momentum as the Most Expensive Currency
The euro has advanced to 773 CUP, with buy and sell rates at 770 CUP and 776 CUP, respectively. This represents a 3-peso rise from the previous session, confirming the European currency's upward trend in recent days. Over the past week, the euro has climbed 13 pesos from 760 CUP, a 1.7% increase. Compared to 30 days ago, when it was at 784 CUP, the current rate is slightly lower, though this difference should be interpreted cautiously as it may partly result from index methodology adjustments. The highest point in the last 30 days was 785 CUP, with a low of 746 CUP. It remains the most expensive currency in the Cuban parallel market, exceeding the dollar by 95 pesos on average.
MLC Shows Sharp Increase Despite Limited Transactions
The MLC is quoted at an average of 479 CUP, with buy and sell rates at 446 CUP and 512 CUP, respectively. This represents a 15-peso increase from the previous day, a 3.2% rise that should be approached with caution: sources warn that the volume of transactions supporting this data is minimal, so the value is indicative. Weekly, the MLC has risen 21 pesos from 458 CUP (+4.6%). Over the past 30 days, it has fluctuated between a high of 529 CUP and a low of 408 CUP. Without physical presence, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Currency Exchange Rates Overview
Exchange rate for the USD to CUP: 678 CUP. Exchange rate for the EUR to CUP: 773 CUP. Exchange rate for the MLC to CUP: 479 CUP (indicative value, limited data).
The Gap with Official Rates Highlights the Crisis
The official exchange rate from the Central Bank of Cuba (Segment III), set today at 638 CUP per dollar and 739 CUP per euro, lags significantly behind the values prevailing in the everyday informal currency market. The gap stands at 40 pesos for the dollar and 34 pesos for the euro, illustrating the disconnect between the official economy and the reality experienced by Cubans.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from that of the informal market, failing to meet the real currency demand of the population. The official dollar rate has risen from 615 CUP in early August to the current 638 CUP, an adjustment that hasn't prevented the significant gap with the parallel market from persisting.
In a scenario of sustained inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly impacts internal prices and Cubans' purchasing power.
Methodology
The CiberCuba Exchange Rate Index is a reflection of the Cuban informal market, formulated through automated analysis of thousands of currency exchange posts on Telegram and Facebook groups. The calculation discards atypical offers and spam messages, weighing each operation based on its age and consolidating a representative value that is updated multiple times a day.
USD to Cuban Peso (CUP) Equivalencies, based on September 3, 2026, exchange rates: 1 USD = 678 CUP; 5 USD = 3,390 CUP; 10 USD = 6,780 CUP; 20 USD = 13,560 CUP; 50 USD = 33,900 CUP; 100 USD = 67,800 CUP.
EUR to Cuban Peso (CUP) Equivalencies, based on September 3, 2026, exchange rates: 1 EUR = 773 CUP; 5 EUR = 3,865 CUP; 10 EUR = 7,730 CUP; 20 EUR = 15,460 CUP; 50 EUR = 38,650 CUP; 100 EUR = 77,300 CUP; 200 EUR = 154,600 CUP.
Understanding Cuba's Informal Currency Market
What is the current exchange rate for the U.S. dollar in Cuba's informal market?
The U.S. dollar is currently exchanged at an average of 678 Cuban pesos (CUP) in the informal market.
How does the euro compare to the U.S. dollar in Cuba's parallel market?
The euro is currently more expensive than the U.S. dollar, with an average exchange rate of 773 CUP, surpassing the dollar by 95 pesos.
Why is there a significant gap between official and informal exchange rates in Cuba?
The gap reflects the disconnect between Cuba's official economy and the real currency demand of the population, exacerbated by inflation and low state wages.