Currency exchange in Cuba's informal market: elTOQUE responds to accusations from the regime

The independent portal elTOQUE shared a editorial in which he defends himself against the accusations of the Cuban government, which blames him for the current devaluation of the national currency.

In recent weeks the regime has intensified a campaign in its press media and on social media accounts of its followers, aimed at discrediting the platform, which daily publishes the price fluctuations of currencies in the informal market.

In the opinion of elTOQUE, it is nothing more than an attempt by the Communist Party to turning the web into "another scapegoat to justify its failure", instead of recognizing their responsibility in the crisis that is sinking the country.

The messages spread by State Security want sow the idea that the rise in the price of currencies and inflation are fictitious phenomena created from abroad.

"The emphasis has been placed on attacking the credibility of our informal currency market monitoring service (known as 'the elTOQUE rate') and eroding the legitimacy it has achieved as a reference for the country," the editorial highlights.

The platform denounces that the government campaign seeks justify possible punitive actions against the elTOQUE team for crimes they have not committed.

"The increasing use of qualifiers such as 'financial terrorists' and the attempts to link us with alleged foreign intelligence operations could be laying the foundations for a new repressive action by the Cuban Government against our platform," the message states.

The platform warned about retaliation, such as blocking access to the website from Cuba, and announced that they are already "preparing alternatives" in case that happens.

"We categorically deny that the members of the elTOQUE team benefit from the depreciation of the Cuban peso, as well as our participation in any conspiracy or connection with operations to stimulate street demonstrations," the editorial emphasizes.

Finally, the website stressed that it will continue its work, without failing to explain the methodology it uses to calculate the reference values of currencies.

"We reject being held responsible for a situation that has a clear cause: the failed model imposed on Cuba," he concluded.

As part of the government's campaign against elToque, this week Cubadebate He accused the platform of carrying out actions to affect the Cuban economy, which have generated a negative impact on the country's monetary scale, with an increase in prices.

"El Toque has accelerated the artificial increase of the US dollar, with the objective of reaching an exchange rate of 480-500 pesos per dollar approximately by July 11, 2024. This strategy seeks to generate a social outbreak in Cuba," said the official media.

"El Toque is secretly financed by the United States and establishes a false value of the CUP in relation to the USD. Its algorithm (...) is not based on solid economic fundamentals," he added.