The informal currency market in Cuba sees both the dollar and the euro gaining strength this Tuesday, October 13, as the Cuban peso continues to lose ground against these major currencies.
As of 10:00 a.m. local time, the U.S. dollar is trading at 788 Cuban pesos (CUP) in the informal market, with buying rates at 785 CUP and selling at 790 CUP.
Current Exchange Rates in the Informal Market
The exchange rate for the USD is 788 CUP, while the euro is at 885 CUP. The MLC is valued at approximately 528 CUP, though this figure is indicative due to limited data. This marks a three-peso increase from the previous day, when the average value was 785 CUP.
Weekly and Monthly Trends of the Dollar
Over the past week, the dollar has climbed by 17.5 pesos from 770 CUP, reflecting a 2.3% rise. Monthly, there’s a notable increase of 95 pesos, equating to a 13.7% jump, though this should be viewed cautiously as methodology adjustments may influence these figures.
Throughout the last month, the dollar has reached a high of 788 CUP and a low of 693 CUP, maintaining its pivotal role in the informal market amid a structural currency shortage.
Euro's Performance and Comparison
The euro starts the day at 885 CUP, fluctuating between a buying rate of 880 CUP and a selling rate of 890 CUP. Compared to the previous day, the euro has risen by 5 pesos from Monday’s 880 CUP, a 0.6% increase.
In the past week, the euro has gained 15 pesos from 870 CUP (+1.7%), and over the last month, it has increased by 97.5 pesos (+12.4%), although these figures might also be affected by methodological changes. Today’s rate of 885 CUP marks the highest in the last 30 days, with the lowest being 788 CUP, making it the most expensive currency in the Cuban parallel market, surpassing the dollar by 97 pesos.
MLC Exchange Rate and Market Constraints
The MLC is trading around 528 CUP, with a buying rate at 499 CUP and selling at 556 CUP. However, this should be considered an estimate due to the low volume of transactions during this time. From the previous session, the MLC has decreased by 6.5 pesos from Monday’s 534 CUP (-1.2%).
Over the last week, it has dropped by 65.5 pesos from 593 CUP (-11%), yet over a 30-day period, it shows a gain of 64 pesos (+13.8%), a number that may also be influenced by methodological changes. The highest point in the last month was 603 CUP, with the lowest at 446 CUP. The absence of physical existence limits its use to state-run stores that accept it, reducing its circulation compared to cash currencies.
Discrepancy Between Official and Informal Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) remains at 702 CUP per dollar and 783 CUP per euro, significantly lower than the rates prevailing in the everyday informal market. Although Segment III was intended to offer a more flexible exchange mechanism, its official rates remain far removed from the informal market, failing to meet the real currency demand of the population. Currently, the gap between official and informal rates exceeds 86 pesos for the dollar and 102 pesos for the euro.
This discrepancy highlights the ongoing foreign currency shortage in the state banking system and the high demand for dollars and euros among citizens, whether for emigration, importing goods, securing savings, or making private sector purchases. In a context of persistent inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of the Cuban informal market derived from automated analysis of thousands of currency exchange postings in Telegram and Facebook groups. The calculation excludes atypical offers and spam, weighting each transaction by its age and consolidating a representative value updated several times daily.
Currency Conversion Rates
Equivalence of U.S. Dollar (USD) to Cuban Peso (CUP) as per the exchange rates on Tuesday, October 13, 2026:
- 1 USD = 788 CUP
- 5 USD = 3,940 CUP
- 10 USD = 7,880 CUP
- 20 USD = 15,760 CUP
- 50 USD = 39,400 CUP
- 100 USD = 78,800 CUP
Equivalence of Euro (EUR) to Cuban Peso (CUP) as per the exchange rates on Tuesday, October 13, 2026:
- 1 EUR = 885 CUP
- 5 EUR = 4,425 CUP
- 10 EUR = 8,850 CUP
- 20 EUR = 17,700 CUP
- 50 EUR = 44,250 CUP
- 100 EUR = 88,500 CUP
- 200 EUR = 177,000 CUP
Understanding Cuba's Informal Currency Market
Why is there a difference between official and informal exchange rates in Cuba?
The discrepancy arises due to a persistent shortage of foreign currency in the official banking system and a high demand for dollars and euros among the population for various needs, leading to higher rates in the informal market.
How does the CiberCuba Exchange Rate work?
The CiberCuba Exchange Rate is calculated by analyzing numerous currency trading posts on social media platforms, filtering out anomalies and spam, and providing a weighted, representative value that updates multiple times daily.