Cuba’s Informal Dollar Rate Hits 730 Pesos: What Expats Need to Know
CUBA · MONEY & PRICES
Key Facts
- —The country Cuba has about 11 million people and a state-run economy that has been opening, slowly, to private business — parliament approved 176 private-sector measures in June 2026.
- —The number The informal exchange rate reached 730 Cuban pesos (CUP) per US dollar on Saturday 26 September 2026, by the elTOQUE tracker; CiberCuba’s index read 733 the same day and 740 by Sunday night. The euro hit a record 840 CUP.
- —The gap The state’s official floating rate stood near 678 CUP per dollar on Friday — about 7 percent below the informal rate. The MLC, the state’s shop currency, traded at 474.95 on Saturday morning’s reading.
- —The year In early January the informal dollar cost about 460 CUP. The dollar’s informal price is up roughly 59 percent in nine months.
- —The wage A state salary of 6,930 CUP a month is worth about US$9.50 at the informal rate, and about US$10 at the official rate.
- —The politics At the UN General Assembly, Deputy Foreign Minister Carlos Fernández de Cossío told Bloomberg TV on Friday that US sanctions are holding back reforms, and that easing them would make the opening truly irreversible.
- —What it means for you The informal rate is the price of daily life in Cuba — for cash exchange, private restaurants, taxis and rent. Bring cash, in dollars or euros, and expect prices to move with the rate.
- —Still open Whether Washington moves on sanctions, how far the informal rate runs this week, and when the official float narrows the gap.
Cuba’s informal dollar rate keeps setting records — 730 pesos on Saturday morning by elTOQUE’s tracker, 740 by Sunday night on CiberCuba’s index. Behind the number is a state salary worth less than US$10 a month, and a government arguing at the UN that sanctions, not its reforms, are the brake.
The Week the Informal Rate Hit 730
On Saturday morning, elTOQUE’s tracker — the reference most Cubans actually use — put the informal dollar at 730 Cuban pesos, while CiberCuba’s own index read 733 on Saturday and 740 by Sunday night. The euro reached a record 840 pesos. The state’s own floating rate, introduced to formalize the market, stood near 678 on Friday — close enough to show the direction, far enough to leave the informal market setting real prices. The MLC, the currency of state shops, traded at 474.95 on the Saturday-morning reading.
The year’s arc puts the week in context: in early January the informal dollar cost about 460 pesos. The climb from about 460 to 730 means the dollar’s informal price is up roughly 59 percent in nine months — a steady depreciation of the peso, not a single shock, which is how currency crises usually look from inside a country.
Two Rates, One Economy
Cuba runs on parallel prices. The state’s official float governs banks and formal channels; the informal market governs daily life — private restaurants, taxis, rent, and most goods that matter. At 730 informal, a state salary of 6,930 pesos is worth about US$9.50 a month; a US$100 note buys about 73,000 pesos. The gap between the two rates, about 7 percent on Friday’s numbers, is itself a measure of stress: when trust in the official channel rises, the gap narrows.
The government’s response has been to attack the messenger. Granma, the Communist Party daily, accuses elTOQUE of manipulating the rate — an accusation the tracker rejects, and one that does not change what a taxi costs.
What the Government Says
At the UN General Assembly on Friday, Deputy Foreign Minister Carlos Fernández de Cossío told Bloomberg TV that US sanctions are holding back Cuba’s reforms — and that easing them would make the opening to private business “truly irreversible.” Parliament approved 176 private-sector measures in June 2026; the government’s argument is that reform is real but cannot outrun the embargo’s pressure on fuel, finance and tourism. The counterargument, voiced in Washington by Secretary of State Marco Rubio, is that the system itself is the obstacle. Both positions are on the record; neither has moved this week.
What It Means for Expats and Visitors
Practical rules first. Bring cash — US dollars or euros — because card acceptance is patchy and US-issued cards do not work. Exchange enough for daily life at the rate of the day: prices in the private economy move with the informal rate, so a café that cost 7,300 pesos at 730 will not hold that price if the rate moves. Power cuts and fuel shortages continue across the island; plan transport and connectivity with slack. For anyone sending money to family, the informal rate is what the remittance is actually worth on the street — about 73,000 pesos per US$100 this weekend.
What to Watch
Three tracks: the informal rate itself through the week (elTOQUE publishes daily); the official float, and whether it narrows the 7 percent gap; and Washington, where any movement on sanctions would land first on fuel and finance. None moves fast, and none should be read as a verdict on Cuba’s direction on a single day — the peso’s slide is a nine-month trend, and trends turn slowly. For the regional money picture, see our daily guide for Monday 28 September.
What We Could Not Confirm
As of early Monday: today’s informal print (trackers update through the day); the real-time spread between informal buying and selling rates outside Havana; this week’s blackout schedule; and whether any sanctions discussion exists beyond the public statements at the UN.
How do I exchange money in Cuba right now?
Bring cash in US dollars or euros. The state’s official float stood near 678 pesos per dollar on Friday; the informal market — the rate most private prices follow — reached 730 on Saturday by elTOQUE’s tracker. US-issued cards generally do not work; other foreign cards work patchily at state channels. Carry enough cash for your stay, split it, and exchange as you go rather than all at once.
What does 730 pesos per dollar mean for daily costs?
It means prices in the private economy have risen with the rate all year. A US$100 note changed about 73,000 pesos this weekend; a state monthly salary of 6,930 pesos is worth about US$9.50 at the informal rate. For visitors, a weaker peso makes Cuba cheaper in dollar terms at private businesses; for Cubans on state incomes, it makes imports dearer. Both are true at once.
Are US sanctions on Cuba about to change?
Nothing scheduled says so. Cuba’s deputy foreign minister argued at the UN on Friday that sanctions are holding back reforms and that easing them would make the opening irreversible; US Secretary of State Marco Rubio has publicly rejected that framing. Treat any change as unconfirmed until it appears in an official notice — and expect the informal rate to react before the bureaucracy does if it ever comes.
Sources
- elTOQUE (informal rate 730 CUP per USD; euro 840; MLC 474.95, 26 September 2026)
- CiberCuba (informal index readings of 733 on 26 September and 740 on 27 September 2026)
- Cuban state banking data via desk (official float near 678, 25 September 2026)
- Bloomberg TV (interview with Deputy Foreign Minister Carlos Fernández de Cossío at the UN General Assembly, 25 September 2026)
- Granma (state position on the elTOQUE tracker, September 2026)
- Cuban National Assembly (176 private-sector measures, June 2026, via The Rio Times desk)
- The Rio Times desk reporting, 25–28 September 2026
More: Cuba news in English, every day from The Rio Times. See also our daily guide for Monday 28 September.
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