As of 8:00 PM local time in Cuba, the informal currency market concluded its activities on Saturday, October 3, 2026, with both the U.S. dollar and the euro appreciating compared to the previous day. The Cuban peso continues to lose ground against these two primary cash currencies, while the MLC shows a significant drop, although its rate should be viewed cautiously due to the low transaction volume backing it.
The U.S. dollar closed the day at 785 Cuban pesos (CUP), marking an increase of 5.5 pesos compared to the previous session where it averaged 780 CUP. Over the past week, the dollar has climbed 47.5 pesos from 738 CUP, representing a 6.4% rise. Over the last month, the dollar has gained 102.5 pesos from 683 CUP, although this 30-day comparison may partly reflect index methodology adjustments rather than purely market movements. Today, the dollar reached its highest point in the past 30 days, with a range between 683 and 785 CUP, continuing to set the pace in an informal market characterized by a structural shortage of foreign currency.
Euro's Performance in the Informal Cuban Market
The euro closed at 885 CUP, a rise of 7 pesos from the previous session's 878 CUP. Over the last week, the European currency has increased by 45.5 pesos from 840 CUP, a 5.4% hike. In the past month, it has accumulated a gain of 112.5 pesos from 773 CUP, though this should be read with caution due to potential index methodology adjustments. Today, the euro achieved its highest value over the past 30 days, ranging between 773 and 885 CUP, surpassing the dollar by 100 pesos, thereby reinforcing its dominant position in Cuba's parallel market.
MLC's Fluctuation Amid Low Activity
The MLC's indicative rate is 460 CUP, a figure to be treated with caution due to the limited volume of transactions. This represents a decrease of 25.5 pesos from the previous day’s 486 CUP. It has fallen 24.5 pesos over the past week from 485 CUP, and over the past month, it has lost 49 pesos from 509 CUP. Its highest point in the last 30 days was 547 CUP, with a low of 415 CUP. Without physical presence, its use is confined to state-run stores that accept it, limiting its circulation compared to cash currencies.
Exchange rates stand at 785 CUP per USD, 885 CUP per EUR, and 460 CUP (indicative) for MLC. The official exchange rate from the Central Bank of Cuba (Segment III) remains significantly lower at 695 CUP per dollar and 783 CUP per euro, far from the rates prevailing in the everyday informal currency market.
Official vs. Informal Market Rates in Cuba
Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from the informal market and fails to meet the real currency demands of the population. The gap between the official dollar rate (695 CUP) and the informal rate (785 CUP) exceeds 90 pesos; for the euro, the difference between the official 783 CUP and the parallel market's 885 CUP is nearly 102 pesos.
In a scenario marked by sustained inflation, low state salaries, and increasing partial dollarization of the economy, any fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the informal Cuban market derived from automated analysis of thousands of currency exchange posts in Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighs each transaction by its recency, and consolidates a representative value updated multiple times daily.
U.S. Dollar (USD) to Cuban Peso (CUP) conversion rates for this Saturday, October 3, 2026, are as follows: 1 USD = 785 CUP; 5 USD = 3,925 CUP; 10 USD = 7,850 CUP; 20 USD = 15,700 CUP; 50 USD = 39,250 CUP; 100 USD = 78,500 CUP.
Euro (EUR) to Cuban Peso (CUP) conversion rates for this Saturday, October 3, 2026, are as follows: 1 EUR = 885 CUP; 5 EUR = 4,425 CUP; 10 EUR = 8,850 CUP; 20 EUR = 17,700 CUP; 50 EUR = 44,250 CUP; 100 EUR = 88,500 CUP; 200 EUR = 177,000 CUP.
Understanding Cuba's Informal Currency Market
What causes the gap between official and informal exchange rates in Cuba?
The gap is primarily due to the government's inability to meet the population's real currency demand, leading people to rely on the informal market where rates are higher due to scarcity and demand.
How does the fluctuation in the informal market impact Cubans?
Fluctuations in the informal market affect internal prices and purchasing power, making it harder for Cubans to afford goods and services as their salaries remain low amidst rising inflation and partial dollarization.