The announcement from the Central Bank of Cuba regarding the implementation of a "floating" exchange rate has once again brought elTOQUE to the forefront of public debate, the independent media outlet that has set the benchmark for the informal currency market on the Island for years.
Minutes after the televised appearance of the president of the Central Bank, elTOQUE reacted with irony and skepticism. "Eight minutes of reading and performance and, like almost always... we have to wait until tomorrow," the outlet wrote in one of its initial posts, summarizing that it will "temporarily" continue the multiplicity of exchange rates and the new floating rate will be published daily, along with the rules that will govern the currency market. "We'll see you tomorrow as well," they added.
Before the official announcement, elTOQUE had shared its Representative Exchange Rate of the Informal Currency Market by territory, with values in several provinces exceeding 440 pesos per dollar. In that context, it invited its followers to speculate on what they believed the official rate would be, reflecting the anticipation surrounding the government decision.
Hours later, after the official information was made public, the media shared an ironic meme: “After today’s attacks on the site of elTOQUE and the competition between the speeches of Donald Trump and the president of the Central Bank of Cuba tonight… Now it all makes sense. We are lost!”. The tone quickly resonated with an audience accustomed to reading between the lines of economic announcements.
The most direct reaction came later, when elTOQUE published an image with a single number in the center: "410". Shortly before, state media confirmed that this would be the official exchange rate of the US dollar for December 18, which many interpreted as an implicit validation of the values that the independent media had been reflecting for months.
On social media, the official post sparked an avalanche of comments filled with irony, confusion, and discontent. Numerous users questioned how, after weeks of official criticisms of the informal market and elTOQUE, the government ended up announcing a rate that was "almost identical," while others wondered if it would really be possible to buy or sell currencies at the banks. There were also many reactions pointing out the contradiction between the new exchange rate and state salaries, which are now calculated to be just a few dollars a month.
While the Central Bank insists that the floating rate aims to "recover the purchasing power of the national currency" and move towards a future currency unification, the reaction from elTOQUE and thousands of Cubans shows that uncertainty remains.
For many, beyond the announced figure, the question remains: how will this measure impact the daily life of a country where the Cuban peso continues to lose value against an increasingly dollarized economy?
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