Cuba's Informal Market Sees US Dollar and Euro Surge Amid Currency Shortages
The informal market in Cuba opened on Sunday, August 23, 2026, with increases in the US dollar and euro. The US dollar rose to 664 Cuban pesos (CUP), a one-peso increase from the previous day's close. The euro skyrocketed to 750 CUP compared to 746 yesterday. This represents a 4.5-peso increase.
The MLC is around 411 CUP, but this value should be taken as indicative due to the low volume of transactions supporting it during this time frame. The US dollar remains virtually unchanged against the 664 CUP from seven days ago, reflecting notable stability in the short term. However, the euro is losing ground: a week ago it was valued at 758 pesos, which means a decrease of 7.5 pesos during that period.
The official exchange rate set by the Central Bank of Cuba (Segment III) remains far below the values that apply in everyday practice in the informal currency market. The gap between the official dollar rate and the informal one exceeds 26 pesos, while in the case of the euro, the difference is only 5 pesos.