The informal currency market in Cuba opens this Tuesday with mixed behavior: the dollar continues its downward trend, the euro accelerates its rise, and the MLC gives back some of the spectacular recovery it experienced on Monday.
According to the monitoring of informal rates, the dollar is trading this Tuesday at 655 Cuban pesos (CUP), three pesos less than on Monday. The euro rises by five pesos to 755 CUP, while the MLC decreases by 16 pesos to 476 CUP.
Informal exchange rate in Cuba Tuesday, July 14, 2026 - 03:00
Exchange rate of the dollar (USD) to Cuban pesos CUP: 655 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 755 CUP
Exchange rate of (MLC) to Cuban pesos CUP: 476 CUP
The Monday session had already shown divergent movements among currencies: the dollar fell by two pesos to 658 CUP, the euro rose by three pesos to 750 CUP, and the MLC featured the most notable jump of the week, recovering 50 pesos in less than 24 hours, rising from 442 to 492 CUP.
The volatility of the MLC has been extreme in recent days. The freely convertible currency had fallen to 419 CUP on Saturday, rebounded to 442 on Sunday, and surged to 492 CUP on Monday. This Tuesday, it has once again lost ground and now stands at 476 CUP.
Exchange Rate Evolution
The dollar, for its part, has dropped by 40 pesos from its recent historical high of 695 CUP, recorded on June 21, 2026, just two days after the National Assembly approved 176 economic measures that include the legalization of private banks and the creation of a digital currency market. Paradoxically, this package of reforms initially spurred demand for foreign currency instead of calming the market.
The gap between the official rate of the Central Bank of Cuba (BCC), set at 592 CUP per dollar and 674.23 CUP per euro, and the prices in the informal market remains enormous: 63 pesos difference for the dollar and almost 100 pesos for the euro.
This distance has direct consequences on the purchasing power of Cubans. The minimum wage raised to 3,210 CUP as of July 1st is equivalent to less than five dollars at the informal exchange rate, and the official average salary of 6,930 CUP barely reaches 10.5 dollars per month.
The situation is even more dire for the over 1.7 million retirees who receive the minimum pension of 4,000 CUP, equivalent to just over six dollars. Independent economists estimate that meeting basic needs in Cuba requires about 96,060 pesos per month, approximately 14 times the official average salary.
In six years, the Cuban peso has lost more than 95% of its value against the dollar: from 42 CUP in 2020 to 655 CUP this Tuesday. Independent economists warn that as long as there is a real shortage of foreign currency, triple-digit inflation, a fiscal deficit, and a lack of confidence in the Cuban peso, "the rate will ultimately rise again."
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