On Monday, November 2, 2026, Cuba's informal currency market reached an unprecedented milestone as the U.S. dollar surged past the 900 peso mark, closing at an average of 903 Cuban pesos (CUP). The euro also climbed, ending the day at 986 CUP, while the MLC (moneda libremente convertible) showed an indicative value of 612 CUP, driven by a limited number of transactions.
Breaking the 900 peso threshold, a first for the dollar in the informal market, the currency increased by 7.5 pesos compared to the previous session, where it closed at 895 CUP. This upward trend reflects ongoing pressure, as just a week ago, the dollar was valued at 843 pesos, and a month ago, it hovered around 785 CUP. While these 30-day comparisons may partially reflect changes in index methodology, they also highlight the market's movement. Over the past month, the dollar has fluctuated between a high of 903 CUP and a low of 768 CUP.
The U.S. dollar's closing rate of 903 CUP represents a 7.5 peso increase from the day before. Over the last week, the currency has risen by 7.1% and by 15% over the past month, maintaining an upward trend that shows no signs of slowing. The informal market remains a crucial barometer of Cuba's economic reality amid a persistent shortage of foreign currency.
Euro and MLC Trends in Cuba's Parallel Market
The euro closed at 986 CUP, up by 3 pesos from its previous rate of 983 CUP. In the last week, the euro has gained 58 pesos, a 6.3% increase, and over the past month, it has risen by about 100.5 pesos. The euro stands as the most expensive currency in Cuba's parallel market, exceeding the dollar by 83 pesos.
The MLC ended the day around 612 CUP, rising 48 pesos from the previous close of 564 CUP. However, this value should be considered indicative due to the low volume of transactions. Over the past 30 days, the MLC has varied between a high of 742 CUP and a low of 457 CUP. Its use is limited to state-run stores that accept it, given the absence of physical currency, which restricts its circulation compared to cash currencies.
Official vs. Informal Exchange Rates
The official exchange rates set by the Central Bank of Cuba (Segment III) remain significantly lower than those in the informal market, with the dollar at 768 CUP and the euro at 857 CUP. The gap between the official and informal markets has widened to 135 pesos for the dollar and 129 pesos for the euro, highlighting the disconnect between Cuba's official economy and the realities faced by its citizens.
Despite being introduced as a more flexible exchange mechanism, Segment III's official rates continue to fall short of meeting the real demand for foreign currency among the population. The official dollar rate has increased from 695 to 768 CUP in the past month, a change overshadowed by the informal market's rapid climb to 903 pesos.
This disparity underscores the chronic shortage of foreign currency in the state banking system and the high demand for dollars and euros, driven by needs such as emigration, importing goods, protecting savings, or making purchases in the private sector.
Economic Impact of Currency Fluctuations
In a setting characterized by ongoing inflation, low government wages, and increasing partial dollarization of the economy, every fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans.
Surpassing the 900 peso per dollar barrier marks the most significant event in Cuba's informal currency market since systematic tracking began. Achieved on Monday, November 2, 2026, this new threshold reflects the rapid deterioration of the Cuban peso against major currencies, with the dollar rising by 15% in just one month and 7.1% in the past week. The pace of the CUP's depreciation is unprecedented in recent records, and the absence of effective state measures to curb currency demand suggests that pressure on the peso could persist in the coming days.
The CiberCuba Exchange Rate is an index of Cuba's informal market derived from the automated analysis of thousands of currency trading posts on Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighting each transaction by its recency to consolidate a representative value updated multiple times a day.
U.S. Dollar to Cuban Peso (CUP) exchange rates for Monday, November 2, 2026:
1 USD = 903 CUP
5 USD = 4,515 CUP
10 USD = 9,030 CUP
20 USD = 18,060 CUP
50 USD = 45,150 CUP
100 USD = 90,300 CUP
Euro to Cuban Peso (CUP) exchange rates for Monday, November 2, 2026:
1 EUR = 986 CUP
5 EUR = 4,930 CUP
10 EUR = 9,860 CUP
20 EUR = 19,720 CUP
50 EUR = 49,300 CUP
100 EUR = 98,600 CUP
200 EUR = 197,200 CUP
Understanding Cuba's Currency Crisis
What caused the U.S. dollar to surpass 900 Cuban pesos?
The U.S. dollar surpassed 900 Cuban pesos due to sustained demand for foreign currency and a chronic shortage of dollars in the state banking system, exacerbated by economic instability and inflation.
How does the informal market impact Cuba's economy?
The informal market significantly affects Cuba's economy by setting a more realistic exchange rate than the official one, influencing internal prices, and impacting citizens' purchasing power as they seek dollars and euros for various needs.
What is the role of the Central Bank's Segment III in currency exchange?
Segment III was intended to offer a more flexible exchange rate system, but its official rates remain disconnected from the informal market, failing to adequately meet the real demand for foreign currency in Cuba.