The informal market in Cuba closes as foreign currencies rise

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By CiberCuba Editorial Team

Wednesday, October 28, 2026 - 8:30 PM

Money, reference imagePhoto © CiberCuba

At 8:00 PM, local Cuban time, the closes for this Wednesday, October 28, 2026, with the dollar and the euro gaining ground against the Cuban peso.

The U.S. dollar ends the day at 858 pesos on average, the euro rises to 940 pesos, and the MLC stands around 721 pesos, although this last figure should be taken as indicative due to the low volume of transactions backing it.

The US dollar is quoted at 858 Cuban pesos (CUP) at the close of this trading day. This represents an increase of 7.5 pesos compared to the previous day, when the North American currency closed at 850 CUP.

In the last week, the dollar has risen by 35 pesos from the 823 CUP it was at seven days ago, representing an increase of 4.3%. The comparison over 30 days shows a rise of 112.5 pesos—from 745 CUP a month ago—although this figure should be treated with caution, as it may partly reflect adjustments in the methodology of the index.

In the last 30 days, the dollar has reached a high of 858 CUP and a low of 745 CUP. It continues to set the tone for the informal market in a context of structural currency scarcity.

Exchange Rate Evolution

The euro closes at 940 Cuban pesos (CUP), its highest level in the last 30 days. This represents an increase of 8 pesos compared to the previous day, when the European currency was at 932 CUP according to data from the previous session.

In the last week, the euro has risen by 28 pesos from 912 CUP seven days ago, an increase of 3.1%. Thirty days ago, it was trading around 850 CUP, although that comparison may include methodological variations of the index. It surpasses the dollar by 82 pesos, solidifying its dominant position in the Cuban parallel market.

The MLC is positioned around 721 Cuban pesos (CUP) at the close of this trading session, although this value should be considered indicative given the low volume of operations recorded during this time period.

Compared to the previous day, when a value of 554 CUP was reported, the difference is an increase of 167.5 pesos, representing a variation of 30.3% that reflects more the irregularity of the available data than an actual market movement.

Seven days ago, the MLC was valued at 733 CUP, and in the last 30 days, it has fluctuated between a minimum of 457 CUP and a maximum of 742 CUP. Without a physical existence, its use is limited to state-run stores that accept it, which restricts its circulation compared to cash currencies.

Exchange rate for the dollar USD to CUP: 858 CUP.
Exchange rate of the euro EUR to CUP: 940 CUP.
Exchange rate from MLC to CUP: 721 CUP (indicative value, limited data).

The official exchange rate of the Central Bank of Cuba (Segment III) is 754 CUP per dollar and 840 CUP per euro, which remains well below the values that prevail in everyday practice in the informal currency market.

Although Segment III was presented as a more flexible exchange mechanism, its official rate remains quite distant from that of the informal market and fails to meet the actual demand for foreign currency by the population.

In the case of the dollar, the gap between the official rate (754 CUP) and the informal rate (858 CUP) is 104 pesos; in the euro, the difference between the official 840 CUP and the 940 CUP in the parallel market reaches 100 pesos.

In an environment of sustained inflation, low state wages, and increasing partial dollarization of the economy, every variation in the informal market directly impacts internal prices and the purchasing power of Cubans.

The sustained rise of the dollar —which has increased by more than 35 pesos in just one week— worsens the living conditions of those who rely on the Cuban peso for their daily income.

The Exchange Rate of CiberCuba is an index of the informal Cuban market created from the 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 recency, and consolidates a representative value that is updated several times a day.