As of 8:00 PM local Cuban time, the informal currency market in Cuba concluded this Saturday, September 12, with the dollar and euro climbing once more.
The U.S. dollar closed the day at 693 Cuban pesos (CUP), a slight increase of one peso from the previous day's close, while the euro reached 788 CUP, up by three pesos compared to the previous session. Meanwhile, the Cuban Convertible Peso (MLC) hovered around 460 pesos, though this figure should be taken with caution due to the low volume of transactions that support its valuation.
The Dollar's Performance in the Informal Market
The U.S. dollar closed at 693 CUP, marking an increase of 1 peso from the previous day, when it stood at 692 CUP. Over the past week, the dollar has risen by 10 pesos from 683 CUP, reflecting a 1.5% increase. On a monthly scale, the dollar has gained approximately 27.5 pesos in the last 30 days, though this comparison should be approached with caution as it may partially reflect methodology adjustments in the index. In the past month, the dollar fluctuated between a low of 663 and a high of 693 CUP, with today marking its peak. It continues to set the pace in the informal market amid a backdrop of chronic currency shortages.
Euro's Strong Position
The euro ended the day at 788 CUP, a rise of 3 pesos from its previous rate of 785 CUP. Over the past week, the euro has increased by 10.5 pesos from 777 CUP, a 1.4% uptick. Compared to 30 days ago, when it was approximately 760 pesos, the euro has gained 27.5 pesos, though this monthly change might include methodological adjustments. Today's rate of 788 CUP represents the highest in the past 30 days, with the lowest being 746 CUP during this period. The euro remains ahead of the dollar by 95 pesos, solidifying its dominant position in Cuba's parallel market.
MLC's Fluctuating Value
The MLC is estimated at around 460 CUP, though this value should be viewed as indicative given the limited transaction volume recorded during this time frame. Previous session data indicated a rate of 461 CUP, a minor drop by 1 peso. Over the past week, the MLC rose by 19 pesos from 441 CUP, reflecting a 4.3% increase. In the last 30 days, it has varied between a minimum of 408 and a maximum of 529 CUP, highlighting the volatility associated with its low transaction volume. Without physical presence, its use is limited to state-run stores accepting it, restricting its circulation compared to cash currencies.
Official Rates Versus Informal Market
The Central Bank of Cuba's official exchange rate (Segment III) for the dollar is 655 CUP, and for the euro, 760 CUP, both significantly lower than those in the informal currency market. The gap between official and informal rates stands at 38 pesos for the dollar and 28 pesos for the euro. Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from meeting the real currency demand of the population. Notably, last month saw the official dollar rate increase from 624 to 655 CUP, and the euro from 720 to 760 CUP, indicating an upward trend even in the official channel, albeit not reaching parallel market levels.
With ongoing inflation, low government salaries, and increasing partial dollarization of the economy, fluctuations in the informal market directly impact domestic prices and the purchasing power of Cubans. The close of this Saturday, with the dollar and euro both hitting their highest levels in the past 30 days, intensifies pressure on the Cuban peso and those who rely on it for daily needs.
Tasa de Cambio de CiberCuba: An Insight into Informal Market Trends
The Tasa de Cambio de CiberCuba is an index of the Cuban informal market, derived from the automated analysis of thousands of currency exchange posts in Telegram and Facebook groups. It filters out atypical offers and spam, weighting each transaction based on its recency to establish a representative value that is updated multiple times throughout the day.
Exchange rates for the U.S. dollar to Cuban peso (CUP) for Saturday, September 12, 2026, are as follows: 1 USD = 693 CUP, 5 USD = 3,465 CUP, 10 USD = 6,930 CUP, 20 USD = 13,860 CUP, 50 USD = 34,650 CUP, 100 USD = 69,300 CUP.
Exchange rates for the euro to Cuban peso (CUP) for Saturday, September 12, 2026, are as follows: 1 EUR = 788 CUP, 5 EUR = 3,940 CUP, 10 EUR = 7,880 CUP, 20 EUR = 15,760 CUP, 50 EUR = 39,400 CUP, 100 EUR = 78,800 CUP, 200 EUR = 157,600 CUP.
Understanding Cuba's Informal Currency Market
Why is the Cuban informal market currency rate higher than the official rate?
The informal market rates are higher due to the scarcity of foreign currencies and the high demand among locals who cannot access these currencies through official channels.
What impacts do fluctuations in the informal market have on everyday life in Cuba?
Changes in informal market rates directly affect the cost of goods and services, reducing the purchasing power of individuals who earn in Cuban pesos.
How is the exchange rate in the informal market determined?
The informal exchange rate is influenced by supply and demand dynamics, scarcity of foreign currency, and economic conditions, often analyzed through online platforms tracking buy/sell offers.