As of 10:00 a.m. local time in Cuba, the informal currency exchange market sees the dollar and euro continuing to climb on Thursday, October 15, 2026.
The U.S. dollar has jumped to 797 Cuban pesos, surpassing the previous day's 793, while the euro has reached 892 pesos, up from 888 recorded yesterday.
The MLC, albeit with limited transaction data that reduces its reliability, is approximately valued at 636 pesos.
Currency Exchange Snapshot
The exchange rates on the informal market are as follows: the dollar is trading at 797 CUP, the euro at 892 CUP, and the MLC, with sparse data, stands at an indicative 636 CUP.
U.S. Dollar: Setting a 30-Day High
The U.S. dollar is valued at 797 pesos in the informal market today, with buying at 794 CUP and selling at 800 CUP. This marks a 4.5 peso increase from the previous day when it was at 793 CUP on average.
Over the past week, the dollar has climbed by 29.5 pesos, moving from 768 to 797, a 3.8% increase. In the last 30 days, it has surged by 99.5 pesos from a reference of 698 CUP, representing a 14.3% rise. Some of this change may be due to index methodology adjustments rather than solely market movements.
The current rate of 797 CUP marks the highest in the past 30 days, highlighting ongoing currency shortages in the informal market.
Euro: Reaching New Heights
The euro stands at 892 pesos, with buying at 885 CUP and selling at 899 CUP. This is a 4 peso increase from yesterday's 888 CUP, a 0.5% rise.
Over the past week, the euro has gained 32 pesos from 860 CUP, a 3.7% increase. It has risen 97.5 pesos in the last month, from 795 to 892 CUP, a 12.3% hike. Similar to the dollar, some of this change may be due to index adjustments.
The euro surpasses the dollar by 95 pesos in the parallel market, asserting its strong position.
MLC: Indicative Value Due to Limited Data
The MLC is approximately at 636 pesos, with buying at 500 CUP and selling at 772 CUP. This reflects an 85.5 peso increase from yesterday’s 551 CUP, a 15.5% jump.
However, this should be cautiously interpreted, as the limited transaction volume makes the data indicative. Over the past week, the MLC has risen by 51 pesos from 585 CUP, an 8.7% increase. In the past month, it moved from 509 to 636 CUP, although comparisons may include methodological adjustments.
Lacking physical presence, the MLC's use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Gap Between Informal and Official Exchange Rates
The Central Bank of Cuba's official rate of 711 CUP per dollar and 790 CUP per euro remains significantly lower than the informal market rates. Despite being introduced as a more flexible mechanism, Segment III's official rate is still far from fulfilling the real demand for foreign currency among the Cuban public.
Today, the gap between the official and informal market rates is 86 pesos for the dollar and 102 pesos for the euro.
Economic Context
This gap highlights the ongoing shortage of foreign currency in Cuba's state banking system and the high demand for dollars and euros for emigration, goods importation, savings protection, or private sector purchases. In a setting of persistent inflation, low state wages, and increasing partial dollarization, each shift in the informal market impacts internal prices and Cubans' purchasing power.
Methodology
The CiberCuba Exchange Rate Index is derived from an automated analysis of thousands of currency exchange postings on Telegram and Facebook. The calculation excludes atypical offers and spam, weighting each transaction by age to consolidate a representative value updated several times a day.
Currency Conversion Rates on October 15, 2026
For the U.S. dollar, 1 USD equals 797 CUP, with increments of exchange rates for larger denominations. For the euro, 1 EUR equals 892 CUP, with corresponding increments for larger bills.
Understanding Cuba's Currency Market
Why is there a gap between official and informal exchange rates in Cuba?
The gap exists due to a persistent shortage of foreign currency in the state banking system and high demand from the population for dollars and euros for various economic activities and savings.
What influences the fluctuations in the informal currency market in Cuba?
Fluctuations are influenced by factors such as inflation, state wages, economic policies, and the partial dollarization of the economy, impacting the demand and supply dynamics of foreign currency.