This is how the informal market closes in Cuba: the dollar freezes and the euro loses ground

Latest News
By CiberCuba Editorial Team

Sunday, September 6, 2026 - 21:21

The informal currency market effectively determines the real purchasing power of Cubans (Reference image)Photo © CiberCuba/ChatGPT

closes at 8:00 PM (local time) this Sunday with a balance of tense calm: the dollar remains stable while the euro slightly declines, and the MLC shows a notable drop although its figures should be taken with caution. The market ends the day at historically high levels, with no signs of a sharp turn in the short term.

The U.S. dollar closes the day trading at 683 Cuban pesos (CUP), exactly the same value as the previous day. It remains unchanged compared to Saturday, solidifying its position at the highest level recorded in the last 30 days, with a maximum of 683 CUP and a minimum of 663 CUP during that period.

From a weekly perspective, the US dollar has risen by 6.5 pesos compared to the 676 CUP from seven days ago, representing an increase of 1%. When compared to 30 days ago, though this should be interpreted with caution due to potential methodological adjustments in the index, the gain is 10 pesos from the 673 CUP of a month ago. It continues to set the tone in the informal market amid a context of structural currency shortages.

The euro slightly retreated at the close of this Sunday, standing at 775 Cuban pesos (CUP), two pesos below the 777 CUP recorded the previous day, reflecting a decrease of 0.3%. Despite this minor setback, the European currency maintains a positive trend in the weekly outlook: a week ago, it was trading at 765 CUP, which signifies a gain of 10 pesos over the week, a rise of 1.3%.

Exchange Rate Evolution

In the monthly balance, with the caution warranted by a 30-day comparison due to possible methodological adjustments, the euro is positioned 8 pesos below the 783 CUP from a month ago. It asserts itself as the most expensive currency in the Cuban parallel market, exceeding the dollar by 92 pesos.

The MLC closes the session with an indicative average of 415 Cuban pesos (CUP), although the data available during this time frame is scarce and should be taken with caution. According to the data from the previous session, the exchange rate was 441 CUP, which implies a drop of 26 pesos, equivalent to 5.9%.

The trend in the weekly outlook is also negative: seven days ago it was at 466 CUP, 51 pesos above the current value. With no physical existence, its use is limited to state-run businesses that accept it, which restricts its circulation compared to cash currencies.

Exchange rate of the dollar (USD) to CUP: 683 CUP.
Exchange rate of the euro (EUR) to CUP: 775 CUP.
Exchange rate from MLC to CUP: 415 CUP (indicative value, limited data available).

The official exchange rate of the Central Bank of Cuba (Segment III) stands at 640 CUP per dollar and 744 CUP per euro, remaining far below the values that govern everyday practice in the informal currency market.

Although Segment III was introduced as a more flexible currency mechanism, its official exchange rate remains significantly distant from that of the informal market and fails to meet the real demand for foreign currency among the population. The gap between the official dollar rate (640 CUP) and the informal rate (683 CUP) is 43 pesos; in the case of the euro, the difference between the official rate of 744 CUP and the parallel market rate of 775 CUP reaches 31 pesos.

In a context of sustained inflation, low state wages, and a growing partial dollarization of the economy, every fluctuation in the informal market directly affects domestic prices and the purchasing power of Cubans. This Sunday’s close, with the dollar anchored at its highest levels in the past month and the euro just a step below its own recent highs, reflects a market that finds no structural relief.

The informal currency market in Cuba operates outside the state's financial institutions, through networks of buying and selling between individuals. Although the Cuban regime does not officially recognize it, this market practically determines the real purchasing power of Cubans.

The Exchange Rate of CiberCuba is an index of the informal Cuban market developed through the automated analysis of thousands of currency trading posts in Telegram and Facebook groups; the calculation disregards atypical offers and spam messages, weighs each transaction based on its age, and consolidates a representative value that is updated several times a day.