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

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By CiberCuba Editorial Team

Sunday, September 6, 2026 - 21:21

People on a street in Havana and $100 bills and €50 bills (Reference image)Photo © CiberCuba/ChatGPT

At 8:00 PM, local Cuban time, closes this Sunday, September 6, 2026, with a state of tense calm: the dollar remains steady and the euro slightly weakens, while the MLC shows a significant drop, although its data should be interpreted with caution. The market ends the day at historically high levels, with no signs of a sharp turnaround in the short term.

The US dollar closes the day trading at 683 Cuban pesos (CUP), exactly the same value as on the previous day. It remains unchanged compared to yesterday, consolidating 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 increased by 6.5 pesos compared to the 676 CUP from seven days ago, which is a rise of 1%. The comparison over 30 days, which should be interpreted with caution as it may reflect methodological adjustments to the index, shows a gain of 10 pesos compared to the 673 CUP from a month ago. It continues to set the tone for the informal market amid a context of structural currency shortages.

The euro slips slightly at the close this Sunday, standing at 775 Cuban pesos (CUP), two pesos below the 777 CUP recorded on the previous day, representing a decline of 0.3% compared to the figures from the last session. Despite this slight setback, the European currency maintains a positive trend for the week ahead: seven days ago it was trading at 765 CUP, which means a gain of 10 pesos over the week, an increase of 1.3%.

Exchange Rate Evolution

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

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

The trend in the weekly outlook is also negative: a week ago it was at 466 CUP, 51 pesos above the current value. Without physical availability, its use is limited to the state-run businesses that accept it, which restricts its circulation compared to cash currency.

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, few data available).

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

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

In a scenario of sustained inflation, low state salaries, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans. This Sunday’s closing, with the dollar anchored at its highest in the last month and the euro just a step below its own recent highs, reflects a market that does not find 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, it is the market that effectively determines the real purchasing power of Cubans.

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