Cuba's Informal Currency Market Sees Dollar and Euro Surge

The Cuban informal currency market saw significant changes on Saturday, August 29, 2026. The US dollar and euro both experienced increases in value against the Cuban peso (CUP).

The US dollar rose by one peso compared to the previous day, reaching a value of 674 CUP, while the euro climbed by five pesos, valuing at 763 CUP. The MLC, an alternative currency used mainly for state-run store transactions, saw a slight decline in its indicative value.

The dollar has been on an upward trend over the past week, increasing by 11.5 pesos or 1.7%, while the euro surged by 17 pesos, a 2.3% rise. The disparity between official and informal exchange rates remains significant, with the informal market reflecting actual demand and supply.

Currency fluctuations in Cuba are influenced by factors such as inflation, low state salaries, partial dollarization of the economy, and high demand for foreign currency.