The informal currency market in Cuba opens this Saturday with the dollar at 663 Cuban pesos (CUP), the euro at 753 CUP, and the MLC at 419 CUP, according to the monitoring recorded at 3:13 AM.
The three currencies have decreased compared to Friday's values, a day that had already recorded declines compared to Thursday. The dollar loses seven pesos (it was at 670 CUP), the euro gives up five pesos (it was at 758 CUP), and the MLC experiences the steepest drop: it plummets 29 pesos from the 448 CUP on Friday.
Informal exchange rate in Cuba Saturday, July 11, 2026 - 03:30
Exchange rate of the dollar (USD) to Cuban pesos CUP: 663 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 753 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 419 CUP
On Thursday, the dollar remained at 680 CUP for the third consecutive day, the euro hovered around 760 CUP, and the MLC was at 490 CUP, highlighting the rapid decline in just 48 hours.
The behavior over the last month has been one of extreme volatility. The dollar reached its historic high of 695 CUP on June 21, just two days after the National Assembly approved a package of 176 economic measures in an extraordinary session. Rather than calming the market, the announcement coincided with a significant increase in the price of the dollar in the informal market.
Exchange Rate Evolution
After that peak, the dollar abruptly corrected to 605 CUP at the end of June, the lowest point of the period, and then steadily recovered: 610 CUP on July first, 645 on the fourth, 670 on the sixth, and 680 between the seventh and ninth. The drop this Saturday interrupts that upward trend.
The euro followed a similar pattern: it reached 800 CUP on June 21, also a historical record, fell to around 700 CUP by the end of the month, and stabilized around 758-760 CUP in the first days of July before the new decline this Saturday.
The MLC exhibited a varied behavior: it fluctuated between 488 and 507 CUP during June, stabilized at around 490 CUP in the first week of July, and is now experiencing a sharp decline, dropping to 419 CUP, which is similar to the lows at the beginning of the analyzed period.
All of this contrasts with the official rate set by the Central Bank, which stands at 592.00 CUP per dollar and 676.15 CUP per euro for July 2026, well below the prices in the informal market, reflecting the deep currency distortion that the island is experiencing.
The 176 measures approved on June 19 —the most ambitious since the Special Period— include, for the first time since 1959, the authorization of private banking, private exchange houses, and a digital currency market with currency auctions. However, public reaction was one of skepticism: on social media, Cubans responded with phrases like "they just want to save themselves" and "does anyone believe them?", and protests involving pots and pans were reported in Santiago de Cuba, Santa Clara, and Havana.
Independent economists Mauricio de Miranda and Miguel Alejandro Hayes argue that the measures do not aim for economic development but rather "the political survival of the regime and a new redistribution of power within the Castrismo," without altering the structure of GAESA.
In historical perspective, the Cuban peso has lost over 95% of its value against the dollar in six years: from 42 CUP in 2020 to 663 CUP this Saturday. According to independent economists, "as long as these conditions do not change —real shortage of foreign currency, triple-digit inflation, fiscal deficit, and lack of confidence in the Cuban peso— the exchange rate will continue to rise again."
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