The U.S. dollar continues its relentless rise in Cuba's informal currency market, reaching a new high on Wednesday at 722 Cuban pesos (CUP). This surge marks a swift climb from below 700 pesos just a week ago, underscoring the volatile nature of the currency's trajectory.
At 10:00 a.m. local time in Cuba, the informal exchange market pegged the dollar at 722 CUP, with a buying rate of 720 CUP and a selling rate of 724 CUP.
Recent trends highlight the rapid pace of this increase. Merely a week ago, the dollar stood at 698 CUP, just shy of the 700-peso threshold. The very next day, it surpassed 700 CUP, and by Friday morning, it had risen to 703 CUP.
The upward momentum continued last Saturday as the dollar climbed to 708 CUP, hitting another peak. By Sunday, it was valued at 713 CUP, reaching 715 CUP on Monday.
On Tuesday, the American currency rose again to 718 CUP, before achieving the current 722 CUP mark. Within just a week, the dollar has gained 24.5 pesos, a 3.5% increase. Over the past month, it has climbed 56.5 pesos, an 8.5% rise, although monthly comparisons should be approached cautiously due to potential adjustments in index methodology.
Currently, the dollar is at its highest point in the last 30 days at 722 CUP, with the lowest being 665 CUP.
The Euro's Competitive Stance
The euro has also shown significant movement. As of Wednesday, it stands at 825 CUP, with a buying rate of 820 CUP and a selling rate of 829 CUP.
The European currency has increased from 821 CUP the previous day, totaling a gain of 29.5 pesos over the week (+3.7%). In the last 30 days, it has risen by 69.5 pesos (+9.2%), though this increase might also be influenced by methodological changes.
The euro is currently at its 30-day peak, with its lowest point being 753 CUP. It remains the most expensive currency in the Cuban informal market, priced 103 pesos higher than the dollar.
MLC's Declining Value
In contrast, the Moneda Libremente Convertible (MLC) is valued at approximately 475 CUP on Wednesday, with a buying price of 460 CUP and a selling price of 490 CUP.
The index indicates a drop of 26.5 pesos (-5.3%) from the previous day and a decline of 63.5 pesos (-11.8%) over the past week.
Throughout the last month, the MLC has fluctuated between a high of 542 CUP and a low of 415 CUP. Given its lack of physical presence, its use is primarily limited to specific transactions and commercial activities that accept this payment method.
Informal Market Exchange Rates – September 23, 2026
USD to CUP Exchange Rate: 722 CUP
EUR to CUP Exchange Rate: 825 CUP
MLC to CUP Exchange Rate: 475 CUP
The official exchange rate set by the Central Bank of Cuba (Segment III) remains lower, at 673 CUP per dollar and 770 CUP per euro, highlighting a gap of over 49 pesos for the dollar and 55 pesos for the euro between official and informal markets.
U.S. Dollar (USD) to Cuban Peso (CUP) Conversion (as of September 23, 2026):
- 1 USD = 722 CUP
- 5 USD = 3,610 CUP
- 10 USD = 7,220 CUP
- 20 USD = 14,440 CUP
- 50 USD = 36,100 CUP
- 100 USD = 72,200 CUP
Euro (EUR) to Cuban Peso (CUP) Conversion (as of September 23, 2026):
- 1 EUR = 825 CUP
- 5 EUR = 4,125 CUP
- 10 EUR = 8,250 CUP
- 20 EUR = 16,500 CUP
- 50 EUR = 41,250 CUP
- 100 EUR = 82,500 CUP
- 200 EUR = 165,000 CUP
Understanding Cuba's Informal Currency Market
What is the current exchange rate for the U.S. dollar in Cuba's informal market?
As of September 23, 2026, the U.S. dollar is exchanged at 722 Cuban pesos in the informal market.
How does the euro compare to the dollar in the Cuban informal market?
The euro is valued higher than the dollar in Cuba's informal market, standing at 825 CUP compared to the dollar's 722 CUP.
Why is the MLC's value declining?
The MLC's decline is due to its lack of physical form, which restricts its use to specific transactions and commercial activities.