ECONOMY · CUBA
Key Facts
- —The country Cuba runs several official exchange rates at once. Most private prices, from food to rent, follow the informal street rate instead.
- —What happened CiberCuba’s index closed Friday 2 October at 780 CUP per US dollar and 878 per euro. elTOQUE read 775 per dollar early on 3 October.
- —The numbers elTOQUE’s dollar rate is up 100 CUP since late August (675). The central bank’s floating rate stood at 693 per dollar on 2 October, CiberCuba reported.
- —What it means for you The 3,210 CUP minimum wage is worth about US$4.12 at 780 per dollar (2 October). Dollar and euro holders get more pesos, but prices tend to follow.
- —Still open Whether the nine-day run of rises elTOQUE counted to 2 October breaks, and whether the official rate narrows the gap.
The Cuba peso kept sliding this week, with the informal rate reaching 780 pesos per US dollar by Friday night. That was the close of CiberCuba’s exchange index on 2 October, which also put the euro at 878.
A second tracker, elTOQUE, published 775 per dollar early on Saturday 3 October. Neither figure is an official rate, but almost every private price on the island moves with them.
What the two trackers show
CiberCuba’s index closed Friday at 780 CUP per dollar, up from 770 a day earlier. It says the dollar has gained 47 CUP in a week, about 6.4 percent.
The euro closed at 878, also a 30-day high on that index. CiberCuba builds the rate automatically from thousands of buy and sell posts in Telegram and Facebook groups.
elTOQUE, an independent Cuban outlet, uses a similar method based on online offers. It put the dollar at 770 on 2 October, its ninth straight daily rise.
Its 3 October reading of 775 is 100 CUP above the 675 it recorded in late August. It reached 750 on 30 September, as covered in Cuba Minimum Wage Now Worth US$4.28 a Month as Peso Hits 750 per Dollar.
Official rate trails the street
The Banco Central de Cuba (BCC), the central bank, also sets a floating rate known as Segment III. On 2 October it stood at 693 CUP per dollar and 778 per euro, CiberCuba reported.
That leaves the official dollar 87 CUP below the street close. The official rate has moved too, from 638 a month earlier, but more slowly than the informal one.
What it means for wages and visitors
The monthly minimum wage of 3,210 CUP is worth about US$4.12 at Friday’s close of 780 per dollar. At the official 693, the same pay would equal about US$4.63.
For visitors and families receiving remittances, each dollar or euro now buys more pesos. Private sellers tend to reprice with the rate, so that gain fades as prices catch up.
Advice on cash, taxis and rent is in Cuba’s Informal Dollar Rate Hits 745 Pesos: What Expats Need to Know. It dates from when the rate passed 745 per dollar.
What could slow the slide
elTOQUE noted that pressure on the Cuba peso builds when a new month meets a seasonal shortage of hard currency. If that timing explains part of the jump, the pace could ease later in October.
The market is also thin and split: dollar offers on 2 October ranged from 600 to 900 CUP, elTOQUE said. A single daily figure can overstate how settled the price is.
The MLC, a card-only state currency used in some shops, moved the other way. CiberCuba put it near 486 CUP on Friday, down 20 in a day on low volume.
What Is Not Yet Known
Neither the government nor the central bank has commented on this week’s fall in the Cuba peso, based on the reports reviewed. State media have in the past accused elTOQUE of manipulating the rate and feeding speculation.
It is also unclear how quickly shop prices will follow. Both trackers measure currency offers, not shop prices, so the effect on living costs will show only over the coming weeks.
Sources: CiberCuba, informal market close, 2 October 2026 and morning reading, 2 October 2026; elTOQUE, daily report, 2 October 2026, 1 October 2026 and 28 September 2026; elTOQUE rate table, reading of 3 October 2026, 03:25.
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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