The informal market in Cuba awakens with the rise of foreign currencies

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By CiberCuba Editorial Team

Saturday, October 24, 2026 - 11:48

Dollars (Reference image)Photo © CiberCuba

At 10:00 a.m., Cuban local time, opens this Saturday, October 24, 2026, with widespread increases.

The US dollar and the euro are gaining ground compared to the previous day, while the MLC also shows an upward movement, although its data should be taken with caution due to the low trading volume during this time frame.

The pressure on the Cuban peso shows no signs of easing, and the start of the weekend confirms the upward trend that has been evident throughout the week.

The US dollar is trading at an average of 833 Cuban pesos (CUP) in the informal market. This represents an increase of 5 pesos compared to the previous day, when it was at 828 CUP.

In the weekly perspective, the U.S. dollar has risen by 27.5 pesos compared to the 805 CUP it was at seven days ago, which corresponds to an increase of 3.4%.

Exchange Rate Evolution

The 30-day comparison —which may partly reflect adjustments in the index methodology— places the current exchange rate at 107.5 pesos above the 725 CUP recorded at the end of September.

In the last 30 days, the dollar has reached a high of 833 CUP —today's level— and a low of 725 CUP. It continues to set the tone for the informal market amid a context of structural currency shortages.

The euro opens at 920 Cuban pesos (CUP), its average value in the parallel market. Compared to the previous session, the European currency has risen by 4 pesos from the 916 CUP of the day before.

In the past week, the euro has risen by 19.5 pesos from the 901 CUP recorded seven days ago, an increase of 2.2%. The comparison over 30 days—considering the caution advised due to potential methodological adjustments—shows a gain of 91 pesos compared to the 829 CUP from a month ago.

The euro today reaches its highest point in the last 30 days, with a minimum of 827 CUP during this period. It stands out as the most expensive currency in the Cuban black market, surpassing the dollar by 87 pesos.

The MLC hovers around an average value of 596 Cuban pesos (CUP), although this figure should be considered indicative due to the low volume of transactions recorded during this time frame.

Compared to the previous session, it rises by 15.5 pesos from the 581 CUP reported in the last session. However, in the last week, it has decreased by 38 pesos from the 634 CUP recorded seven days ago.

In the last 30 days, the MLC has fluctuated between a maximum of 742 CUP and a minimum of 457 CUP, a range that reflects the volatility of this currency and the limitations of the available data.

Without a physical existence, its use is limited to state-owned businesses that accept it, which restricts its circulation compared to cash currencies.

Exchange rate of the dollar USD to CUP: 833 CUP.
Exchange rate of the euro EUR to CUP: 920 CUP.
Exchange rate from MLC to CUP: 596 CUP (indicative value).

The official exchange rate of the Central Bank of Cuba (Segment III) is 743 CUP per dollar and 832 CUP per euro, which remains well below the values that prevail in everyday practice in the informal currency market.

The gap between the official exchange rate of the dollar and the informal rate today exceeds 90 pesos, while in the case of the euro, the difference is nearly 88 pesos.

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.

In the last month, the official dollar has increased from 676 to 743 CUP and the official euro from 770 to 832 CUP, a rise that still does not narrow the gap with the parallel market.

In a scenario of sustained inflation, low state wages, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans. The simultaneous rise of the dollar and the euro at the opening this Saturday worsens conditions for those who rely on remittances or need to acquire foreign currency to meet daily needs.

The Exchange Rate of CiberCuba is an index of the informal Cuban market created through the automated analysis of thousands of currency exchange 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.