As of 8:00 PM local time in Cuba, the informal currency market wrapped up this Sunday, October 11, 2026, with the U.S. dollar and euro gaining ground compared to the previous day. The Cuban peso shows no signs of recovery, while foreign currencies remain at high levels. The MLC (freely convertible currency), with limited data available, offers only a rough guideline.
At the close of this Sunday, the U.S. dollar was valued at 785 Cuban pesos (CUP), reflecting an increase of 2.5 pesos from the previous day when the average rate was 783 CUP. On a weekly basis, the dollar stayed steady at 785 CUP, the same level as seven days ago. Over the past month, the U.S. dollar has surged by 93.5 pesos from 692 CUP, marking a 13.5% rise, although it's important to note that part of this change may be due to methodological adjustments in the index. The dollar continues to set the pace in the informal market amidst a structural shortage of foreign currencies.
The euro concluded the day at 878 Cuban pesos (CUP), marking a rise of 2 pesos from the previous day's close of 876 CUP. In a weekly comparison, the euro dipped marginally by 1 peso from 879 CUP a week ago, a nearly negligible change. Compared to 30 days ago, the euro has gained 93 pesos, an increase of 11.9%. However, this figure should be considered with the same caution as the dollar regarding potential methodological adjustments. It stands as the most expensive currency in the Cuban parallel market, surpassing the dollar by 93 pesos.
MLC and Its Limited Influence
The MLC closed around 535 Cuban pesos (CUP), though this value should be regarded as merely indicative due to the scarcity of available data at this time. Compared to the previous day, it showed an increase of 38 pesos, and on a weekly basis, it climbed 3 pesos from 532 CUP a week ago. Without physical existence, its usage is limited to state-run stores that accept it, restricting its circulation compared to cash currencies.
Exchange Rate Discrepancies
Exchange rates as of Sunday, October 11, 2026, are as follows: 1 USD equals 785 CUP, 1 EUR equals 878 CUP, and MLC stands at an indicative 535 CUP with limited data. The official exchange rate from the Central Bank of Cuba (Segment III) remains significantly lower, at 698 CUP per dollar and 781 CUP per euro, compared to the prevailing rates in the informal market. The gap between the official and informal dollar rates exceeds 87 pesos, while for the euro, the difference is nearly 97 pesos.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from aligning with the informal market, failing to meet the real currency demand of the population. Over the past month, the official dollar rate increased from 651 to 698 CUP, and the euro from 757 to 781 CUP, highlighting the ongoing pressure on the Cuban peso, even in the institutional channel.
Impact on Cuban Economy
In a scenario marked by sustained inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly affects internal prices and Cubans' purchasing power. The close of this Sunday reaffirms that foreign currencies remain robust against a peso struggling to find stability.
The informal currency market in Cuba operates outside state financial institutions, through networks of private buying and selling. Although not officially recognized by the Cuban regime, it effectively determines the real purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the Cuban informal market, created from the automated analysis of thousands of currency trade posts in Telegram and Facebook groups. The calculation filters out atypical offers and spam, weighing each transaction by its recency to consolidate a representative value that updates several times a day.
Understanding Cuba's Informal Currency Market
Why are foreign currencies gaining ground in Cuba's informal market?
Foreign currencies like the U.S. dollar and euro are gaining ground due to the Cuban peso's continued weakness and the structural shortage of foreign exchange in the country.
How does the official exchange rate compare to the informal market rate?
The official exchange rate is significantly lower than the informal market rate. For example, the official rate for the dollar is 698 CUP, while the informal market rate is 785 CUP, creating a gap of over 87 pesos.