On Monday, the Cuban peso further weakened against major foreign currencies. By the end of the day, the US dollar reached 698 Cuban pesos (CUP), and the euro climbed to 794 CUP in Cuba's informal currency exchange market.
At 8:00 p.m. Cuban time, the dollar had appreciated by four pesos in just one day, compared to the 694 CUP it traded at the previous day. Over the last week, the dollar has increased by 14.5 pesos, reaching its highest value in the past 30 days at 698 CUP.
The euro also continued its upward trend, closing at 794 CUP, which is 3.5 pesos higher than the previous session. In one week, the euro has risen by 16.5 pesos, now standing just one peso short of its 30-day high of 795 CUP.
This increases the gap between the two main currencies, widening to 96 pesos in favor of the euro.
The State of the Cuban Peso and MLC
Meanwhile, the MLC (Moneda Libremente Convertible) was approximately at 509 CUP, although available data at the end of the day were limited, suggesting this value should be approached cautiously.
The end-of-day exchange rates were as follows:
- USD to CUP: 698 CUP
- EUR to CUP: 794 CUP
- MLC to CUP: 509 CUP (indicative value, limited data)
The rise in foreign currency values keeps the gap open between the informal market and the official exchange rate set by the Central Bank of Cuba for Segment III, which is 655 CUP per dollar and 760 CUP per euro.
Impact on the Cuban Economy
This means that in the parallel market, the dollar is sold at 43 pesos above the official rate, while the euro's difference is 34 pesos.
The gap remains despite the depreciation of the official rate over the past month: the dollar went from 628 to 655 CUP, and the euro from 727 to 760 CUP.
The increase in foreign currency prices has a significant impact on Cubans, who are already facing an economic landscape marked by inflation, low wages, and partial dollarization. Both dollars and euros remain in high demand for purposes such as emigration, importing goods, protecting savings, and conducting numerous private sector transactions.
Understanding Exchange Rate Calculations
The CiberCuba Exchange Rate is an index of the informal market created through the automated analysis of thousands of currency exchange postings in Telegram and Facebook groups. The system filters out unusual offers and spam messages, weighs transactions based on their age, and updates a market-representative value several times a day.
Conversion Rates for US Dollar (USD) to Cuban Peso (CUP) as of Monday, September 14, 2026:
- 1 USD = 698 CUP
- 5 USD = 3,490 CUP
- 10 USD = 6,980 CUP
- 20 USD = 13,960 CUP
- 50 USD = 34,900 CUP
- 100 USD = 69,800 CUP
Conversion Rates for Euro (EUR) to Cuban Peso (CUP) as of Monday, September 14, 2026:
- 1 EUR = 794 CUP
- 5 EUR = 3,970 CUP
- 10 EUR = 7,940 CUP
- 20 EUR = 15,880 CUP
- 50 EUR = 39,700 CUP
- 100 EUR = 79,400 CUP
- 200 EUR = 158,800 CUP
FAQs about Cuba's Currency Situation
Why is the Cuban peso losing value against foreign currencies?
The Cuban peso is losing value due to economic instability, high inflation, and the partial dollarization of the economy, which increases demand for stable foreign currencies like the US dollar and euro.
How does the informal market impact the Cuban economy?
The informal market affects the economy by creating a parallel exchange rate that often exceeds the official rate, reflecting the real demand and supply conditions for foreign currencies in Cuba.
What are the implications of a widening gap between official and informal exchange rates?
A widening gap can exacerbate inflationary pressures and economic disparity, as it increases the cost of imports and affects the purchasing power of average Cubans who rely on foreign currency to meet their needs.