Cuba Informal Market Pushes Peso to 785 per Dollar as Euro Hits 885
CUBA · CURRENCY
Key Facts
- —The country Cuba, a Caribbean island 145 km (90 miles) from Florida, pays wages in pesos, but most private prices follow a street exchange rate.
- —Why it matters Since December 2025 individuals must use the central bank’s floating rate for legal exchanges, yet the street pays noticeably more.
- —What changed The dollar’s street price rose 6.4 percent in a week on CiberCuba’s index, reaching its highest level in 30 days.
- —What happened On Saturday 3 October the informal rate closed at 785 pesos per dollar and 885 per euro, CiberCuba reported.
- —The numbers The central bank’s official floating rate stood at 695 per dollar, so the street paid about 13 percent more pesos.
- —What it means for you Visitors changing cash on the street get more pesos, but private prices in pesos tend to rise with the dollar.
- —Still open Whether the Cuba informal market keeps rising, and whether the official rate moves to narrow the gap.
The Cuba informal market ended Saturday 3 October with 785 pesos needed to buy one US dollar and 885 to buy a euro. Both were the highest levels in a month on CiberCuba’s daily index.
The independent news site CiberCuba published the closing figures late on Saturday evening. They extend a slide reported on Friday, when the same index stood at 780 per dollar.
What the Street Paid on Saturday
CiberCuba takes its reading at 8pm Cuban time. It builds the rate automatically from thousands of posts offering to buy or sell currency in Telegram and Facebook groups.
On that basis the dollar closed at 785, up from 780 a day earlier. The euro closed at 885, up from 878, as covered in Cuba Peso Falls to 780 per Dollar on Informal Market on 3 October.
Over seven days the dollar gained 6.4 percent on the index and the euro 5.4 percent. Over 30 days the dollar ranged from 683 to 785, so it now sits about 15 percent above that low.
The index also gives a tentative reading for the MLC, a dollar-linked balance held on Cuban bank cards. It fell to 460, down from 486, moving against the cash currencies.
A Second Tracker Shows a Lower Number
The other widely watched gauge in the Cuba informal market comes from elTOQUE, an independent Cuban news site. Its reading at 7am on Saturday was 775 pesos per dollar and 870 per euro.
The two trackers use similar methods but different samples and hours, so their figures rarely match. Both, however, have pointed the same way for more than a week.
elTOQUE also lists a separate price for dollars paid abroad through Zelle, the US bank payment app. On Saturday morning those fetched about 738 pesos per dollar, less than cash on the island.
The Official Rate Trails Behind
Cuba has three official exchange rates.
Since 18 December 2025, a fixed rate of 24 pesos per dollar has applied to state budget allocations. A fixed 120 applies to selected state firms that earn foreign currency.
Individuals and private businesses must use a third, floating rate if they want to change money through legal channels, OnCuba News reported. On Saturday that rate stood at 695 per dollar and 783 per euro, according to CiberCuba.
When it launched the floating rate, central bank president Juana Lilia Delgado said it should draw foreign currency into the official market. She said that would ease pressure and irregularities in the Cuba informal market.
So far the gap remains. The street paid about 13 percent more pesos than the official rate on Saturday, for both the dollar and the euro.
What It Means for Visitors and Families Abroad
For a visitor, the Cuba informal market means more pesos for each dollar or euro. The catch is that private sellers set peso prices with the same rate in mind.
Much of the visitor’s gain therefore disappears at the till, in restaurants, private shops and taxis.
Street exchanges also happen outside the legal system, with no receipt and no recourse. Banks and the state exchange houses, known as CADECA, use the official floating rate.
For families abroad who support relatives, the form of the money matters. Dollars in cash on the island fetched more pesos on Saturday than dollars sent through Zelle, elTOQUE’s table showed.
What It Means for Cubans Paid in Pesos
For Cubans earning pesos, a weaker currency means smaller real pay. The monthly minimum wage of 3,210 pesos is now worth about US$4.09.
That uses the street rate of 785 pesos to the US dollar on 3 October 2026.
At the official floating rate the same wage equals about US$4.62. In late August, with elTOQUE’s dollar at 675 pesos, it was worth about US$4.76, as explained in Cuba Minimum Wage Now Worth US$4.28.
Put another way, 10,000 pesos was worth about US$12.74 on the street on Saturday. At the official rate the same sum equalled about US$14.39.
What Comes Next
CiberCuba and elTOQUE publish new readings every day, so Sunday’s figures will show whether the climb continues. Daily moves have been small, a few pesos at a time, but they have added up.
A higher street rate does not mean the official system has collapsed or that banks have stopped working. It does mean the Cuba informal market, not the central bank, still sets most prices that ordinary Cubans pay.
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What is the Cuba informal market rate?
It is the price at which Cubans buy and sell dollars and euros among themselves, outside banks. Independent trackers such as CiberCuba and elTOQUE estimate it daily from online offers.
Can visitors change money legally in Cuba?
Yes, at banks and the state exchange houses known as CADECA, which use the central bank’s floating rate. That rate stood at 695 pesos per dollar on 3 October 2026.
Why do CiberCuba and elTOQUE show different rates?
They sample different online offers at different hours. On 3 October CiberCuba’s evening close was 785 pesos per dollar, while elTOQUE’s morning reading was 775.
Does a weaker peso make Cuba cheaper for tourists?
Only partly. Visitors get more pesos per dollar in the Cuba informal market, but private prices in pesos tend to rise with the street rate.
Sources: CiberCuba, 3 October 2026; elTOQUE rates via Directorio Cubano, 3 October 2026; OnCuba News, 18 December 2025.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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