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The recent drop of the dollar in the informal Cuban market —one of the most significant in recent months— is causing unexpected reactions among private businesses.
Although the law prohibits Mipymes from charging directly in foreign currency, many do so covertly to ensure the replenishment of goods, as they need dollars or euros to import or purchase wholesale on the black market. However, it seems that in recent days several establishments have stopped accepting payments in physical dollars, just as their value is declining.
On social media, numerous users report that for the past three days many small and medium-sized enterprises (Mipymes) have refused to accept dollars, even for small transactions. The most viral case involved lawyer and activist Manuel Viera, who, on his , recounted that he tried to buy a pack of chicken with a 10 USD bill and no one was willing to change it for him.
"I don't understand anything," he wrote. "If a 10-pound package costs 10 dollars, why can't I pay for it with 10 dollars?" According to Viera, the merchants' behavior follows a speculative logic: "They want to make a few pesos on the exchange tomorrow, even if it means losing sales today."
In a second , he criticized the lack of foresight of those who, by rejecting foreign currency, “are handing their customers over to the State,” which maintains its dollar stores. “When the government has enough dollars to import, it will sweep them out of the market,” he warned.
A widespread behavior
Complaints are multiplying across the country. “It’s not just a few… it's a lot,” responded one user in the original thread. “This has been happening for three days in many private establishments.”
Another comment summed up the paradox: “They don’t want to sell in dollars, but they buy them at 420.”
Citizen discontent is compounded by legal confusion: private businesses are not allowed to operate in foreign currencies, although most do so informally because the Cuban peso is not sufficient for them to restock.
When the exchange rate drops, owners prefer to hold onto their products and wait for a new increase before selling.
Between speculation and fear
Consulted economists explain that the behavior is a result of a mix of caution, opportunism, and lack of business training.
Many of these businesses are simply resellers, lacking strategy or reserve capital, who pass on every fluctuation of the dollar to their prices, but only in the direction that benefits them.
Others point to an implicit coordination among large private importers to temporarily lower the exchange rate and repurchase foreign currency at a cheaper price before a new increase.
The discomfort is growing
Consumer comments reflect anger and distrust. "When the dollar goes up, prices go up; when it goes down, they don't," wrote a reader. "There are no merchants here anymore, only traders."
Amid the decline of currencies and the constant rise in prices, the general perception is that the Cuban private market acts as a distorted mirror of the state-run market: lacking transparency, real competition, and empathy.
"The dollar is falling, but life goes on as usual," summarizes a comment. "And in Cuba, that no longer surprises anyone."
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