As of 10:00 a.m. local time in Havana, Cuba's informal currency market opened on Thursday, September 24, 2026, with significant increases in the two major foreign currencies.
The U.S. dollar began the day trading at 725 Cuban pesos (CUP), reflecting a rise of 3 pesos from the previous day when it closed at 722 CUP. Just a week ago, the dollar was valued at 700 CUP, marking a 25-peso increase in a week, equivalent to a 3.6% rise. Over the past month, the dollar has jumped 57 pesos from the 668 CUP recorded 30 days ago, though some of this fluctuation might be attributed to adjustments in the index's methodology.
Today’s rate also matches the highest level seen in the past 30 days, remaining a sought-after currency for those looking to safeguard their savings against the peso's depreciation.
Euro's Climb in the Parallel Market
The euro opened at 827 CUP on Thursday, up from 825 CUP the previous session. This constitutes a 2-peso increase compared to the day before. Over the past week, the euro has surged by 30 pesos from 797 CUP. Compared to 30 days ago, when the euro stood at 755 CUP, it has climbed 72 pesos.
Today’s rate also represents the euro's highest value over the last month, making it the most expensive currency in Cuba's parallel market, surpassing the dollar by 102 pesos.
MLC's Fluctuating Value
The MLC is priced around 479 CUP, a rise of 4 pesos from the previous day’s 475 CUP. However, this value should be seen as indicative, given the low volume of transactions during this time. Over the last week, the MLC has increased by 26 pesos from 453 CUP. In the last 30 days, it has ranged between a low of 415 CUP and a high of 542 CUP, demonstrating significant volatility. Without physical currency, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Discrepancy Between Official and Informal Rates
Informal exchange rates as of today are as follows: USD to CUP at 725, EUR to CUP at 827, and MLC to CUP at 479 (indicative value with limited data). The official rates from the Central Bank of Cuba (Segment III) remain at 676 CUP per dollar and 770 CUP per euro, far below the rates prevailing in the everyday informal market. Currently, the gap between the official and informal markets is 49 pesos for the dollar and 57 pesos for the euro.
Although Segment III was intended to offer a more flexible exchange mechanism, its official rates are still far from meeting the actual demand for foreign currency among the Cuban population. Over the past month, the official rate for the dollar moved from 638 to 676 CUP, while the euro adjusted from 744 to 770 CUP, yet these changes have not narrowed the gap with the parallel market.
In a context of persistent inflation, low state salaries, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts domestic prices and the purchasing power of Cubans. The recent upward trends in the dollar and the euro have led to higher costs for imported goods and items traded in foreign currencies within the country.
The CiberCuba Exchange Rate is an index of the Cuban informal market, created through automated analysis of thousands of currency exchange posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighting each transaction by its age to consolidate a representative value that updates multiple times daily.
U.S. Dollar to Cuban Peso Equivalent:
- 1 USD = 725 CUP
- 5 USD = 3,625 CUP
- 10 USD = 7,250 CUP
- 20 USD = 14,500 CUP
- 50 USD = 36,250 CUP
- 100 USD = 72,500 CUP
Euro to Cuban Peso Equivalent:
- 1 EUR = 829 CUP
- 5 EUR = 4,145 CUP
- 10 EUR = 8,290 CUP
- 20 EUR = 16,580 CUP
- 50 EUR = 41,450 CUP
- 100 EUR = 82,900 CUP
- 200 EUR = 165,800 CUP
Understanding the Cuban Currency Market Dynamics
Why are the dollar and euro rising in Cuba's black market?
The rise in the dollar and euro on Cuba's black market is largely due to the high demand for these currencies as Cubans seek to protect their savings from the depreciating peso.
What is the difference between the official and informal exchange rates in Cuba?
The official exchange rates set by the Central Bank of Cuba are significantly lower than those in the informal market, which better reflect the actual demand and economic conditions in the country.