On Wednesday, October 7th, at 10:00 a.m. local time, Cuba's informal currency exchange market opened with both the U.S. dollar and the euro losing ground against the Cuban peso. The U.S. dollar fell to 768 CUP, the euro declined to 864 CUP, while the MLC (Moneda Libremente Convertible) stood at an indicative value of 598 CUP, though data for this time slot is limited.
Fluctuations in the U.S. Dollar
The U.S. dollar is currently valued at 768 Cuban pesos (CUP) in the informal market, with buying and selling rates at 760 CUP and 775 CUP, respectively. This marks a decrease of 2 pesos from the previous session, where it closed at approximately 770 CUP. Over the past week, the dollar has gained 14 pesos from 754 CUP, a 1.9% increase. When compared to the 30-day mark, the current rate is 85 pesos higher than the 683 CUP recorded a month ago, though this change might partially reflect adjustments in the index methodology. Throughout the past month, the dollar has ranged from a low of 683 CUP to a high of 785 CUP, continuing to set the pace in the informal market amidst a severe foreign currency shortage.
Current Euro Trends
The euro stands at 864 CUP, with a buying rate of 850 CUP and a selling rate of 878 CUP. Compared to the previous day, the euro has dropped by 6 pesos from 870 CUP, a 0.7% decline. Weekly, the euro has remained relatively stable, changing just 1 peso from 863 CUP a week ago. Over the last 30 days, it has increased by 88.5 pesos from 776 CUP, although caution is advised as this comparison may include methodological adjustments. In the past month, the euro fluctuated between 776 CUP and 885 CUP, remaining the most expensive currency in Cuba's parallel market, exceeding the dollar's rate by 96 pesos.
MLC Exchange Observations
The MLC shows an indicative value of 598 CUP, with a buying rate of 498 CUP and a selling rate of 698 CUP. Given the limited data during this hour, this figure should be approached with caution. The MLC has risen by 5 pesos from 593 CUP the previous day. Over the last week, its value increased by 103.5 pesos from 495 CUP, a 20.9% rise, and over 30 days, it's up by 176.5 pesos from 422 CUP, a 41.9% increase, though these changes may partly reflect methodological index adjustments. The MLC, lacking physical presence, is primarily used in state stores that accept it, limiting its circulation compared to cash currencies.
Exchange Rate Overview
USD to CUP exchange rate: 768 CUP. EUR to CUP exchange rate: 864 CUP. MLC to CUP exchange rate: 598 CUP (indicative, limited data).
Disparity Between Informal and Official Rates
The official exchange rate from Cuba's Central Bank (Segment III) remains at 695 CUP per dollar and 779 CUP per euro, significantly lower than the rates prevailing in everyday informal market transactions. The disparity surpasses 73 pesos for the dollar and 85 pesos for the euro.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate remains far from the informal market's and fails to meet the population's real currency demands. Over the past month, the official dollar rate rose from 640 to 695 CUP, and the euro from 744 to 779 CUP, without closing the gap with the parallel market.
Informal Market Dynamics
The gap between official and informal rates highlights the persistent currency shortage within the state banking system and the high demand for dollars and euros among Cubans, whether for emigration, importing goods, safeguarding savings, or private sector purchases.
In a context of sustained inflation, low state salaries, and growing partial dollarization of the economy, any variation in the informal market directly impacts domestic prices and Cubans' purchasing power.
Methodology Behind Exchange Rates
The CiberCuba Exchange Rate Index is derived from analyzing thousands of currency trading posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighs each operation by its age, and consolidates a representative value updated several times daily.
U.S. Dollar (USD) to Cuban Peso (CUP) equivalency, according to the exchange rates on Wednesday, October 7, 2026: 1 USD = 768 CUP, 5 USD = 3,840 CUP, 10 USD = 7,680 CUP, 20 USD = 15,360 CUP, 50 USD = 38,400 CUP, 100 USD = 76,800 CUP.
Euro (EUR) to Cuban Peso (CUP) equivalency, according to the exchange rates on Wednesday, October 7, 2026: 1 EUR = 864 CUP, 5 EUR = 4,320 CUP, 10 EUR = 8,640 CUP, 20 EUR = 17,280 CUP, 50 EUR = 43,200 CUP, 100 EUR = 86,400 CUP, 200 EUR = 172,800 CUP.
Understanding the Informal Currency Market in Cuba
Why is there a disparity between the official and informal exchange rates in Cuba?
The disparity is primarily due to a significant shortage of foreign currencies in the state banking system and high demand among the Cuban population for dollars and euros. This demand arises from needs related to emigration, importing goods, safeguarding savings, or making purchases in the private sector.
How does the informal market impact Cuba's economy?
The informal market significantly affects Cuba's economy by influencing domestic prices and the purchasing power of Cubans. This impact is especially pronounced in a context of sustained inflation, low state salaries, and increasing partial dollarization of the economy.