As of 8:00 PM Cuban local time, the informal currency exchange market in Cuba closed on Saturday, October 31st, with both the U.S. dollar and the euro climbing higher. The day concluded with persistent pressure on the Cuban peso: the U.S. dollar rose to 890 pesos, the euro exceeded 970, and the MLC, with limited available data, hovered around 566 pesos, a figure that should be seen as indicative.
The U.S. dollar was valued at 890 Cuban pesos (CUP) by the end of the session, marking an increase of 12.5 pesos compared to the previous day when it closed at 878 CUP. This upward trend is also evident on a weekly basis: a week ago, the dollar stood at 834 pesos, indicating a rise of 56 pesos over the past seven days, which translates to a 6.7% increase.
Over the month, the U.S. dollar has appreciated by 120 pesos from 770 CUP 30 days ago, although it's worth noting that part of this change might reflect methodological adjustments in the index rather than pure market movements. The dollar also hit its highest point in the past 30 days during this session, reflecting ongoing dominance in the informal market amidst a structural shortage of foreign currency.
The euro was traded at 970 Cuban pesos (CUP) at Saturday's close. This represents an increase of 13.5 pesos from the previous day, when it was at 956 CUP. Weekly, the euro has climbed 44.5 pesos, advancing from 925 CUP a week ago, equating to a 4.8% increase.
Compared to 30 days ago when it was at 870 pesos, the euro has gained 99.5 pesos, although, similar to the dollar, part of this fluctuation may be attributed to index methodological adjustments. The euro reached its 30-day peak during this session at 970 CUP, outpacing the dollar by 80 pesos and reinforcing its stronghold in the Cuban parallel market.
The MLC is priced around 566 Cuban pesos (CUP), though this figure should be treated as merely indicative due to the limited data volume available at this time. Compared to the previous session, when it was at 540 CUP, it has risen by 26 pesos.
However, on a weekly comparison, it has decreased by 19 pesos from 585 CUP a week ago. Lacking physical existence, its use is restricted to state stores that accept it, limiting its circulation compared to cash currencies.
Exchange rate of the U.S. dollar to CUP: 890 CUP. Exchange rate of the euro to CUP: 970 CUP. MLC to CUP exchange rate: 566 CUP (indicative value, limited data). The official exchange rate from the Central Bank of Cuba (Segment III) remains significantly lower at 768 CUP per dollar and 857 CUP per euro, compared to practical everyday values in the informal currency market. This discrepancy reaches 122 pesos for the dollar and 113 pesos for the euro at this close.
Although Segment III was introduced as a more flexible exchange mechanism, its official rate continues to lag far behind the informal market and fails to meet the real demand for foreign currency among the population. Throughout October, the official dollar rate rose from 689 to 768 CUP, and the official euro rate from 781 to 857 CUP, an increase that, despite its size, hasn't closed the gap with the parallel market.
In a scenario marked by persistent inflation, low state wages, and increasing partial dollarization of the economy, each variation in the informal market directly impacts internal prices and the purchasing power of Cubans. The end of October with the dollar at its highest level in the past 30 days is yet another sign of the pressure on the Cuban peso.
CiberCuba's Exchange Rate is an index of the Cuban informal market, created from the automated analysis of thousands of currency trading posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighs each operation according to its age, and consolidates a representative value updated multiple times daily.
U.S. Dollar (USD) to Cuban Peso (CUP) conversion rates, as per exchange rates on this Saturday, October 31st, 2026: 1 USD = 890 CUP, 5 USD = 4,450 CUP, 10 USD = 8,900 CUP, 20 USD = 17,800 CUP, 50 USD = 44,500 CUP, 100 USD = 89,000 CUP. Euro (EUR) to Cuban Peso (CUP) conversion rates: 1 EUR = 970 CUP, 5 EUR = 4,850 CUP, 10 EUR = 9,700 CUP, 20 EUR = 19,400 CUP, 50 EUR = 48,500 CUP, 100 EUR = 97,000 CUP, 200 EUR = 194,000 CUP.
Frequently Asked Questions About Cuba's Informal Currency Market
Why is the U.S. dollar so high in Cuba's informal market?
The U.S. dollar is high in Cuba's informal market due to a combination of factors including structural shortages of foreign currency, inflation, and the partial dollarization of the economy. These elements create a persistent demand for dollars, pushing up its value.
How does the euro compare to the U.S. dollar in Cuba's informal market?
In Cuba's informal market, the euro is currently valued higher than the U.S. dollar, outpacing it by 80 pesos. This reflects its strong position and demand within the market.
What is the MLC and how is it used in Cuba?
The MLC, or freely convertible currency, is a digital currency used in Cuba for state-run stores. It lacks physical form and its circulation is limited compared to cash currencies like the U.S. dollar and euro.