The dollar closed this Friday at 780 Cuban pesos (CUP) in the informal market of Cuba, a new level that once again highlights the real value of the country's lowest incomes when compared to a currency that serves as a reference for a large portion of prices and imports.
With that exchange rate, the official minimum wage of 3,210 CUP per month is equivalent to approximately 4.12 dollars. For a retiree receiving the minimum pension due to age or disability resulting from the last increase, 3,056 CUP is equivalent to about 3.92 dollars per month.
The figures are calculated based on the closing of CiberCuba's Exchange Rate on Friday, October 2. This is a reference from the informal market and does not mean that salaries or pensions are paid or can be exchanged officially at that value.
The minimum wage is now 3,210 CUP
The Ministry of Labor and Social Security has set the new monthly minimum wage in the country at 3,210 pesos in July 2026, compared to the previous 2,100 CUP.
The figure was established in the , published in the Official Gazette No. 60 Ordinary of 2026, effective from July 1.
The nominal increase was around 53%, but the rapid depreciation of the peso against the dollar continuously reduces its value measured in foreign currency.
At the informal exchange rate of 780 CUP per dollar, the calculations are as follows: 3.210 CUP ÷ 780 = 4.12 dollars.
Another simple way to look at it is that a five-dollar bill currently represents 3,900 CUP, which is more than the entire monthly minimum wage.
What is the minimum pension really?
In the case of retirees, there is an important clarification because information regarding the pension increase for 2025 has frequently referenced the amount of 4,000 CUP.
The , published in Official Gazette No. 71 Ordinary of 2025, established two different mechanisms.
Those who received pensions of up to 2,472 CUP received a fixed increase of 1,528 CUP. This means that retirees who were on the previous minimum pension of 1,528 CUP will now receive 3,056 CUP per month.
On the other hand, those who received between 2,473 and 3,999 CUP were raised directly to 4,000 CUP.
Therefore, the 4,000 pesos do not constitute a uniform minimum for all retirees affected by that measure. For those starting from the previous minimum pension, the result was 3,056 CUP.
With the dollar at 780 CUP, that amount is equivalent to approximately 3.92 dollars.
A liter of oil can consume nearly an entire pension
The comparison with some recently documented prices allows for a better understanding of purchasing power.
On September 16, CiberCuba reported in Holguín the sale of oil at 2,200 CUP per liter.
At that price, a single liter would represent approximately 69% of a minimum wage and 72% of a minimum pension of 3,056 CUP.
A day later, a video from Trinidad showed cartons of 30 eggs sold for 4,500 CUP, which is equivalent to 150 pesos per unit.
That card costs approximately 40% more than the entire monthly minimum wage and about 47% more than the minimum pension.
Prices vary significantly by province, seller, and time, so these examples do not constitute an official national list, but they do provide recent references for what consumers are facing.
A recent purchase cost nearly three minimum wages
Another example was documented by a Cuban woman who showed this week a purchase of food and basic products for about 8,750 CUP.
The operation included malangas, bread, avocados, detergent, plantains, bacon, and ribs.
That expenditure is equivalent to approximately 2.7 full minimum wages or 2.9 minimum pensions.
The contrast illustrates a problem that a nominal increase in salaries or pensions does not solve on its own: when domestic prices and the value of currencies rise more quickly than incomes, real purchasing power is once again reduced.
The official market doesn't change much in comparison either
On October 2, the official rate for Segment III was 693 CUP per dollar, compared to the 780 CUP recorded in the informal market.
Even using that official exchange rate, the minimum wage would be about 4.63 dollars and the minimum pension of 3,056 CUP would be approximately 4.41 dollars.
The difference between both markets affects the conversion, but it does not change the fundamental conclusion: the minimum monthly income in Cuba currently represents less than five dollars when compared to either of the two rates.
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