The informal currency market in Cuba starts this Saturday with movements in opposing directions: the dollar rises to 663 Cuban pesos (CUP), while the euro declines to 756 CUP and the MLC is priced at 433 CUP, according to data recorded this morning.
The Friday session closed with different figures: the dollar remained at 660 CUP after five consecutive days without variation, the euro at 760 CUP —tenth day without change— and the MLC at 437.19 CUP, according to the Informal Market Representative Rate (TRMI) of elTOQUE.
Informal exchange rate in Cuba Saturday, July 18, 2026 - 06:30
Exchange rate of the dollar (USD) to Cuban pesos CUP: 663 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 756 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 433 CUP
Regarding Friday, the dollar gains three pesos, the euro loses four, and the MLC falls by just over four pesos.
The prices available in the informal market reveal a significant gap between buyers and sellers: the dollar fluctuates between 600 and 710 CUP, the euro between 665 and 800 CUP, and the MLC between 400 and 500 CUP.
Exchange Rate Evolution
The dollar's rebound does not surprise analysts. The Currency and Finance Observatory (OMFi) from elTOQUE had warned in its bulletin on July 9 that "the recent decline of currencies at the end of June was temporary" and that "the demand for dollars has regained strength against the supply," anticipating that "the rebound of exchange rates will continue in the coming days."
The organization projects that the dollar will fluctuate between 620 and 730 CUP during July, with the 700 CUP mark serving as a resistance level, while the euro will hover around 780 CUP with a possible peak of 820 CUP.
The backdrop is devastating for Cubans. Since June's closure, the peso has depreciated by 9.1% against the dollar, which translates to an additional 55 pesos for each green bill. In six years, the national currency has lost over 95% of its value: from 42 CUP per dollar in 2020 to the current levels.
The new minimum wage of 3,210 CUP, effective from July 1 (but which workers will not receive until August), is equivalent to less than five dollars at the informal exchange rate. The official average salary of 6,930 CUP barely reaches 10.5 dollars per month, while independent economists estimate that covering basic needs requires about 96,060 pesos per month, roughly 14 times that salary.
The OMFi also cautioned that "the Cuban government faces a credibility problem" and that "internal reforms are unlikely to be sufficient unless accompanied by some form of negotiation with the United States that allows for the easing of sanctions, facilitates external financing, the entry of oil, remittances, travel, and investment from the diaspora."
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