This Tuesday, September 22, the informal currency market in Cuba is seeing a rise in the values of three key currencies.
As of 10:00 a.m. local time, the U.S. dollar has climbed to an average of 718 Cuban pesos, the euro has strengthened to 821 pesos, and the Freely Convertible Currency (MLC) shows a reference value of 502 pesos.
Current Exchange Rates
USD to CUP exchange rate: 718 CUP. EUR to CUP exchange rate: 821 CUP. MLC to CUP exchange rate: 502 CUP (reference value).
U.S. Dollar Hits 30-Day High
The U.S. dollar is now trading at 718 Cuban pesos in the black market, marking an increase of three pesos from the previous day, where it closed at 715 CUP.
This currency has surged by 20 pesos over the past week—from 698 CUP a week ago—and by 54 pesos over the last month, when it was around 664 CUP. This 30-day comparison may partly reflect adjustments in the index's methodology.
Today's value matches the highest in the past month, intensifying upward pressure on the Cuban peso.
Euro: The Most Expensive Currency in the Parallel Market
The euro begins Tuesday at 821 Cuban pesos, gaining three pesos from the previous session's 818 CUP.
Over the past week, the European currency has increased by 26 pesos—from 795 CUP a week ago—and has risen by 70.5 pesos over the last month from 750 CUP. However, this 30-day variation should be interpreted cautiously due to possible methodological adjustments.
The highest value in the last 30 days is 823 CUP, just two pesos above the current rate. It surpasses the dollar by 103 pesos, solidifying its dominant position in Cuba's informal market.
MLC: A Reference Amidst Low Trading Volume
The MLC stands at approximately 502 Cuban pesos as trading opens on Tuesday, up by 5.5 pesos from the previous day when it was 496 CUP.
However, this figure should be considered as guidance; sources note a low volume of transactions during this period for this currency.
On a weekly basis, the MLC has dropped by 7.5 pesos from 509 CUP a week ago. Without physical existence, its use is restricted to state-run shops that accept it, limiting its circulation compared to cash currencies.
Significant Discrepancy with Official Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) is 670 CUP per dollar and 768 CUP per euro, remaining well below the figures observed in the everyday informal currency market.
The gap between the official and black market rates is 48 pesos for the dollar and 53 pesos for the euro.
Despite Segment III being introduced as a more flexible exchange mechanism, its official rates continue to lag far behind the informal market, failing to meet the real currency demand of the people.
Over the past month, the official dollar rate has adjusted from 638 to 670 CUP, an effort that hasn't managed to close the gap with the parallel market.
In a context of persistent inflation, low state salaries, and increasing partial dollarization of the economy, fluctuations in the informal market directly affect internal prices and the purchasing power of Cubans.
Currency Conversion Rates
Conversion for U.S. Dollar (USD) to Cuban Peso (CUP) as of Tuesday, September 22, 2026:
1 USD = 718 CUP.
5 USD = 3,590 CUP.
10 USD = 7,180 CUP.
20 USD = 14,360 CUP.
50 USD = 35,900 CUP.
100 USD = 71,800 CUP.
Conversion for Euro (EUR) to Cuban Peso (CUP) as of Tuesday, September 22, 2026:
1 EUR = 821 CUP.
5 EUR = 4,105 CUP.
10 EUR = 8,210 CUP.
20 EUR = 16,420 CUP.
50 EUR = 41,050 CUP.
100 EUR = 82,100 CUP.
Analytical Methodology
The CiberCuba Exchange Rate is an index of the Cuban informal market derived from the automated analysis of thousands of currency trading posts in Telegram and Facebook groups.
The calculation excludes atypical offers and spam messages, weighting each operation according to its recency, and consolidating a representative value that is updated multiple times daily.
FAQs on Cuba's Informal Currency Market
Why is there a large gap between the official and informal exchange rates in Cuba?
The gap exists because the official rates set by the Central Bank of Cuba do not reflect the real demand and supply dynamics in the informal market, which operates with a more flexible approach based on actual transaction data.
How does the rise in informal exchange rates affect Cubans?
Increases in the informal exchange rates can lead to higher internal prices and reduce the purchasing power of Cubans, as many goods and services are priced based on these rates rather than the official ones.
What is the role of the MLC in Cuba's currency market?
The MLC is used primarily in state-run stores that accept it instead of cash. Its role in the currency market is more limited due to its lack of physical form and restricted circulation.