The dollar hits 850 pesos in Cuba: it has never been this expensive

The Cuban peso keeps falling. On Wednesday, October 28, 2026, the dollar reached 850 Cuban pesos on the informal market: the highest price in history.

How much it has risen

A week ago the dollar was at 818 pesos. A month ago, at 743. In just 30 days it has risen 107 pesos, 14% more.

The euro is even more expensive: 936 pesos. And the MLC (the currency of cards topped up with foreign money) is around 578 pesos.

The average state salary in Cuba is 7,354 pesos a month, according to ONEI: with the dollar at 850, that is less than 9 dollars.

The official rate, far below

The Central Bank of Cuba has also been raising its official rate: it now sells the dollar at 754 pesos, up from 681 a month ago. But it is still 96 pesos below what people pay on the street.

That is why almost everyone buys and sells foreign currency on the informal market, mostly in Telegram and Facebook groups.

How it is calculated

The 850-peso price comes from the CiberCuba index, which analyzes thousands of currency ads on social media and removes the ones that look fake. The outlet itself warns that part of the rise may be due to changes in its method.

What it means

Every time the dollar goes up, products sold in foreign currency or imported get more expensive in pesos. And people paid in pesos, like state workers and pensioners, can buy less every month.

To understand why salaries don't stretch far, read [how much people really earn in Cuba](cuba-salarios.html).