This is how the informal market closes in Cuba: the dollar rises and the euro remains steady

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By CiberCuba Editorial Team

Wednesday, September 16, 2026 - 9:38 PM

As of September 16, the dollar rises while the euro remains stable in the informal market (reference image)Photo © Shutterstock

At 8:00 PM, local Cuban time, closes the day on September 16, 2026, with the U.S. dollar on the rise and the euro steady at its recent highs.

The Cuban peso continues to lose ground against the major currencies, in a session that confirms the upward trend of recent weeks.

The U.S. dollar closes this Wednesday with an average value of 699 Cuban pesos (CUP), representing an increase of 1.5 pesos compared to the previous day, when it was at 698 CUP. In the last week, the greenback has risen by 11.5 pesos from the 688 CUP it was at seven days ago, a rise of 1.7%.

In the monthly outlook, the dollar has risen by 36.5 pesos compared to the 663 CUP from 30 days ago, although this comparison should be taken with caution, as it may partly reflect methodological adjustments of the index.

Exchange Rate Evolution

In the last 30 days, the dollar has fluctuated between a minimum of 663 CUP and a maximum of 699 CUP recorded today. It continues to set the tone for the informal market amid a context of structural foreign currency shortages.

The euro ends the session unchanged compared to the previous day, with an average value of 795 Cuban pesos (CUP), the same level at which it opened on Wednesday morning and closed the day before. However, the European currency has gained 17.5 pesos over the past week, compared to 778 CUP a week ago, representing an increase of 2.3%.

In the last month, the euro has risen by 35 pesos from the 760 CUP it was at 30 days ago. During that time, it reached a low of 746 CUP and today it hits a high of 795 CUP. It establishes itself as the most expensive currency in the Cuban parallel market, surpassing the dollar by 96 pesos.

As for the MLC, the data available during this time frame is scarce and unreliable, so its valuation should be considered merely indicative.

It would be around 450 Cuban pesos (CUP), although this figure shows a significant drop compared to the 537 CUP from the previous day and the 539 CUP at the opening today. Without physical existence, its use is limited to the state-run businesses that accept it, which restricts its circulation in comparison to cash currencies.

Exchange rate of the dollar (USD) to CUP: 699 CUP.
Exchange rate of the euro (EUR) to CUP: 795 CUP.
Exchange rate from MLC to CUP: 450 CUP (indicative value, limited data available).

The official exchange rate of the Central Bank of Cuba (Segment III), at 662 CUP per dollar and 764 CUP per euro, remains well below the values that prevail in the daily practice of 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 currency demand of the population.

The gap between the official and informal rates today exceeds 37 pesos for the dollar and 31 pesos for the euro.

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.

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