Euro Approaches 920 Pesos as Dollar Hits New High in Cuba's Informal Market

As of 8:00 PM Cuban local time, the informal currency market in Cuba closed this Friday with the U.S. dollar and the euro experiencing gains. Both currencies ended the day surpassing their previous session values, while the MLC showed a notable decline, though this should be cautiously interpreted due to the limited volume of transactions.

The U.S. dollar wrapped up the day at 830 Cuban pesos (CUP), reflecting an increase of 3.5 CUP from the previous session's 827 CUP. Over the past week, the dollar has surged by 27.5 CUP, rising from 803 CUP just seven days ago, marking a 3.4% increase.

When compared to the past month, the current rate stands 105.5 CUP higher than the levels recorded at the end of September, though this change may partially reflect methodological adjustments in the index.

Throughout the last month, the dollar has fluctuated between a low of 725 CUP and today's high of 830 CUP, highlighting its influence in the informal market amid a persistent currency shortage.

Euro's Climb in the Cuban Market

The euro ended the day at 919 CUP, up from 915 CUP the previous day, marking an increase of 3.5 CUP. Over the past week, the euro has climbed 21 CUP from 898 CUP, representing a 2.3% rise.

In the last 30 days, the euro has gained 93 CUP. However, similar to the dollar, this figure should be approached with caution as it could include methodological adjustments.

Today's closing at 919 CUP is the highest in the last month, surpassing the dollar by 89 CUP, reinforcing its dominant position in Cuba's parallel market.

MLC's Volatile Position

The MLC ended the day trading at approximately 570 CUP, though this figure is indicative given the low transaction volume. Compared to the previous day, the MLC dropped by 105.5 CUP, a 15.6% decrease.

Over the last week, it has fallen 61.5 CUP from 632 CUP seven days ago. Over the past month, it has fluctuated between a low of 457 CUP and a high of 742 CUP, illustrating the volatility and irregularity of its market. Without physical existence, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.

Exchange Rates and Economic Impact

The exchange rate for the U.S. dollar to CUP stands at 830 CUP. The euro is at 919 CUP, while the MLC is at 570 CUP (indicative value, limited data). The official exchange rate set by the Central Bank of Cuba (Segment III) is significantly lower, at 738 CUP per dollar and 827 CUP per euro, highlighting the persistent foreign currency scarcity in the state banking system and the high demand for dollars and euros among the population, whether for emigration, importing goods, protecting savings, or making private sector purchases.

In an environment of sustained inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly impacts internal prices and Cubans' purchasing power.

With the informal dollar at 830 CUP compared to the official 738 CUP, the 92 CUP disparity per unit imposes a real penalty on those without access to foreign currencies through state channels, which, in practice, includes the vast majority of the population.

The CiberCuba Exchange Rate is an index of Cuba's informal market, created from the automated analysis of thousands of buy-sell currency posts in Telegram and Facebook groups. The calculation discards atypical offers and spam messages, weighs each transaction based on its age, and consolidates a representative value updated several times daily.

Currency Conversion Rates

U.S. Dollar (USD) to Cuban Peso (CUP) Conversion — Friday, October 23, 2026:

• 1 USD = 830 CUP
• 5 USD = 4,150 CUP
• 10 USD = 8,300 CUP
• 20 USD = 16,600 CUP
• 50 USD = 41,500 CUP
• 100 USD = 83,000 CUP

Euro (EUR) to Cuban Peso (CUP) Conversion — Friday, October 23, 2026:

• 1 EUR = 919 CUP
• 5 EUR = 4,595 CUP
• 10 EUR = 9,190 CUP
• 20 EUR = 18,380 CUP
• 50 EUR = 45,950 CUP
• 100 EUR = 91,900 CUP
• 200 EUR = 183,800 CUP