Cuba's Informal Market Sees Dollar Stable Euro Declines on October 4 2026

The informal currency market in Cuba closed on Sunday, October 4, 2026, with mixed results. The US dollar remained stable at 785 Cuban pesos (CUP), unchanged from the previous day. However, over the past week, the dollar has risen by 6.1%, and in the last month, it has surged by 15%, reaching 785 CUP from 683 CUP. This upward trend reflects the high demand for dollars as Cubans seek to protect their savings against the depreciation of the peso.

The euro, on the other hand, ended the day slightly lower at 879 CUP, a decrease of 0.7% from the previous day's close of 885 CUP. Despite this daily drop, the euro has shown a positive weekly trend, gaining 3.7% over the past seven days. Over the last month, the euro has increased by 13.4%, from 775 CUP to 879 CUP. The euro's value remains higher than the dollar's by 94 pesos, maintaining its dominant position in the Cuban parallel market.

The MLC, a digital currency used in state-run shops, was valued at around 532 CUP, though this figure is considered indicative due to limited data. Compared to the previous session's 460 pesos, this represents a 15.7% increase. However, this fluctuation is more likely due to irregular data sampling than a real market movement. The MLC's limited circulation and lack of physical existence restrict its use compared to cash currencies.

The official exchange rate set by the Central Bank of Cuba remains significantly lower than the informal market rates. The official rate for the dollar is 695 CUP, and for the euro, it is 783 CUP. This gap highlights the disconnect between the state's financial mechanisms and the real demand for foreign currency among the population. In a context of inflation, low wages, and partial dollarization of the economy, fluctuations in the informal market directly impact internal prices and the purchasing power of Cubans.