The informal foreign exchange market in Cuba opens this Monday with divergent movements: the dollar continues its downward trend, the euro rises slightly, and the MLC makes the most notable jump of the day with a recovery of 50 Cuban pesos in less than 24 hours.
According to the data reported this Monday, the dollar is trading at 658 Cuban pesos (CUP) in the informal market, two pesos less than on Sunday. The euro rises by three pesos to 750 CUP, while the MLC makes the most notable jump, rising from 442 to 492 CUP, recovering almost all it lost over the weekend in just one day.
Informal exchange rate in Cuba Monday, July 13, 2026 - 07:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 658 CUP
- Exchange rate of the euro (EUR) to Cuban pesos CUP: 750 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 492 CUP
The MLC had fallen to 419 CUP on Saturday and to 442 CUP on Sunday, only to rebound strongly this Monday to 492 CUP, a level it was trading at in early July. Its volatility in recent days contrasts with the more gradual correction of the dollar.
Exchange Rate Evolution
The greenback has fallen by 22 pesos since its weekly peak of 680 CUP, reached between July 7 and July 9. This figure was already far from the recent historical high of 695 CUP recorded on June 21, shortly after the National Assembly approved 176 economic measures on June 18, an announcement that spiked the demand for foreign currency instead of calming the market.
Despite the recent downward correction of the dollar, the gap with the official rate from the Central Bank of Cuba (BCC) remains vast: the institution sets the dollar at 592 CUP for July 2026, 66 pesos below the actual price at which Cubans operate.
This gap between the official and informal exchange rates reflects the structural deterioration of the Cuban peso, which has lost more than 95% of its value against the dollar in six years: from 42 CUP in 2020 to 658 CUP this Monday.
The impact on the wallets of Cubans continues to be devastating. With the dollar at 658 CUP, the minimum wage raised to 3,210 pesos since July 1—a 53% increase—equates to less than five dollars per month. The official average salary of 6,930 CUP barely reaches 10.5 dollars, and the minimum pension of 4,000 CUP received by more than 1.7 million retirees represents just over six dollars.
Independent economists estimate that covering basic needs requires around 96,060 pesos per month, which is about 145 dollars at the unofficial exchange rate, that is, 14 times the official average salary.
The same experts warn that the current decline of the dollar may be temporary: "As long as those conditions do not change —real shortage of foreign currency, triple-digit inflation, fiscal deficit, and lack of confidence in the Cuban peso— the rate will eventually rise again."
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