Cuba's Currencies in 2026: CUP, MLC, Dollars, Exchange Rates

Cuba runs on several currencies and several exchange rates at once, so "how much is a dollar worth?" has more than one answer. This guide explains how things work as of late 2026. Rates and rules change often, sometimes overnight, and none of this is financial advice.

Which currencies are in use

• Cuban peso (CUP). The only national currency. Wages and pensions are paid in pesos. Because of inflation, the Central Bank put new 2,000 and 5,000 CUP notes into circulation in 2026.
• U.S. dollars and euros in cash. A growing share of prices is set in foreign currency, especially in stores, at gas stations and in private businesses.
• MLC ("moneda libremente convertible"). Not a banknote. It's an electronic foreign-currency balance held in Cuban bank accounts and cards, introduced in 2019 for shopping in MLC stores. It's far less useful today than it used to be.
• CUC (convertible peso). Gone. It stopped circulating on January 1, 2021, under the "Tarea Ordenamiento" reform, which set an official rate of 24 CUP to the dollar at the time.

Partial dollarization

In December 2025 the government published a legal package in the Gaceta Oficial (Decree-Law 113 plus resolutions from the Central Bank and the Ministry of Economy) formalizing what it calls a "partial dollarization." It allows payments in foreign currency between economic actors under state control, and is described as temporary, with no end date.

What that looks like on the ground:

• Some state stores and gas stations sell only in dollars, cash or foreign-currency card.
• Prepaid foreign-currency cards such as Clásica and Tropical are recognized by the Central Bank as domestic payment methods.
• BANDEC, BPA and Banco Metropolitano offer foreign-currency accounts and cards alongside peso accounts.

What about MLC?

The rule that governed MLC accounts was repealed in December 2025, without clarifying whether those balances will become real dollar accounts. MLC balances still exist, but only a few state stores take them, and on the informal market they're worth noticeably less than a cash dollar.

The different exchange rates

The official Central Bank rate

Since December 18, 2025, the Banco Central de Cuba (BCC) has used three tiers:

1. Segment I (1 USD = 24 CUP). For centralized state allocations such as fuel, medicine, electricity and the ration basket.
2. Segment II (1 USD = 120 CUP). For certain hard-currency-earning entities, such as tourism. It no longer applies to individuals.
3. Segment III, the "floating" rate. This is the rate for individuals and private businesses. The BCC publishes it daily and says it reflects supply and demand. It opened at 410 CUP per dollar.

At the time of writing (October 29, 2026), the BCC website listed Segment III at 758 CUP per dollar and 844.18 CUP per euro.

CADECA

CADECA is the state network of exchange offices. Since December 2025 it buys and sells foreign currency from individuals at the floating rate plus a margin. Selling dollars or euros to CADECA is straightforward. Buying them is harder: CADECA only sells what it takes in, there are per-person limits, and you book a slot through the MiTurno service in Transfermóvil.

The informal rate ("cambio en la calle")

This is the price people pay each other for foreign currency. The most widely cited benchmark is elTOQUE's, built from buy and sell offers posted on social media and messaging groups. Other outlets, such as CiberCuba, publish their own indexes.

On October 29, 2026, CiberCuba's index put the dollar at roughly 858 CUP, about 100 pesos above the official rate.

The Cuban government has harshly criticized elTOQUE's rate. Officials have called it a "farce," accused the outlet of manipulating it and pointed to its U.S. government funding. elTOQUE rejects the accusations, says its rate reflects the market and says its funders don't shape its editorial line.

Why the rates don't match

• CADECA and banks can only sell the hard currency they manage to collect, and it's scarce.
• Demand for dollars is high: for imports, travel, emigration and shopping in dollar stores.
• With high inflation, people prefer to save in dollars.
• So the floating rate tends to trail the informal one. When it launched in December 2025 the gap was about 30 pesos; by late October 2026 it was around 100.

How people pay

• Cash. Still king, in both pesos and foreign currency.
• Transfermóvil and EnZona. Mobile banking apps for transfers and QR-code payments linked to Cuban accounts. Businesses are legally required to accept electronic payments, but many still insist on cash or add a surcharge.
• Cuban bank cards. Peso cards and foreign-currency cards (MLC, Clásica, Tropical) work at ATMs and card terminals when the network and the power are up.
• Foreign cards. Since June 6, 2026, Visa and Mastercard no longer work in Cuba. According to the Central Bank, the foreign bank that processed those payments cut ties with FINCIMEX following a U.S. executive order. Russia's Mir and China's UnionPay still work. U.S.-issued cards didn't work even before that.

Cash shortages at banks

Throughout 2026 there have been long lines and empty ATMs in several provinces. The Central Bank says there is no legal cap on withdrawing your own money, but each branch can only hand out the cash it has on hand. Since July 2026, cash withdrawals carry a 0.2% fee and cash deposits are free.

Tips for visitors

• Bring enough cash for the whole trip. With Visa and Mastercard out, it's the safest option. Dollars and euros are the most widely accepted.
• Carry small bills for taxis, food and tips.
• Exchange at authorized places: CADECA, banks, airports and hotels. Street exchangers usually offer more pesos, but according to Canada's official travel advice, exchanging outside authorized places is illegal, and you also risk being scammed.
• Ask whether a price is in USD or CUP before you pay.
• You can't leave Cuba with more than US$5,000 (or the equivalent) or more than 5,000 CUP, according to the Canadian government.
• Power outages can knock out ATMs and card terminals.

If you send money to Cuba

The rate makes a real difference: 100 dollars in cash doesn't go as far as 100 in MLC, or as its peso equivalent at the official rate. Check what your family actually receives, and in which currency. Our guide How to send money to Cuba covers the options.

Quick glossary

• CUP: Cuban peso, the national currency.
• MLC: "freely convertible currency"; an electronic foreign-currency balance in Cuban accounts and cards.
• CUC: convertible peso, abolished in 2021.
• CADECA: the state-run exchange offices.
• Tasa oficial: the official rate published by the Central Bank; for individuals, Segment III (floating).
• Tasa informal: the informal rate, the price of foreign currency between private individuals.
• Cambio en la calle: "street exchange," the everyday term for swapping currency with private individuals.

Frequently asked questions

What is the dollar exchange rate in Cuba today?

It depends on which rate you mean. On October 29, 2026, the Central Bank's official rate for individuals was 758 CUP, while the informal rate was around 858 CUP. Both move daily, so check the Central Bank website and elTOQUE on the day.

Is the CUC still used in Cuba?

No. It stopped circulating on January 1, 2021, with the Tarea Ordenamiento reform.

Can I use my Visa or Mastercard in Cuba?

No, not since June 6, 2026. U.S.-issued cards don't work either. Bring enough cash for the whole trip.

Should I bring dollars or euros to Cuba?

Both are widely accepted. Since many prices are set in dollars, dollars are often the more practical choice.

What's the difference between MLC and dollars?

Dollars are cash and many businesses take them. MLC is an electronic balance in a Cuban account, accepted in few stores and worth less than a cash dollar on the informal market.

Last reviewed: October 2026.