The network of Casas de Cambio (CADECA) in Cuba has taken a new step in its strategy to restructure the currency market with the announcement of the opening of twenty new offices authorized for the sale of foreign currency to the public, spread across most provinces of the country.
The measure, which began to be implemented on December 30, is part of the adjustments promoted by the Government following the launch of the new floating rate scheme, which came into effect on December 18.
“Starting December 29, the option will be available for the public to access the sale of foreign currency through MiTurno in your Transfermóvil app,” states the announcement. However, the service effectively began operating on December 30.
This announcement comes in a context of economic uncertainty and public distrust towards the state currency exchange system.
While the measure may represent a logistical improvement, it has also generated skepticism among segments of the population who have been waiting for years to buy foreign currency and now face much higher prices.
Offices established by provinces
CADECA has outlined the locations where it is already possible to buy foreign currency in person. The official list includes:
Havana: Line and Paseo Shopping Center (Plaza de la Revolución), 3ra y 70 Gallery (Playa), Neptuno Shopping Center (Centro Habana), and Santa Catalina Shopping Center (10 de Octubre).
Camagüey: Florida and Esmeralda branches.
Villa Clara: Medical Sciences Shopping Center (Santa Clara), Caibarién, Remedios, and La Campana Shopping Center (Manicaragua).
Sancti Spíritus: Provincial Hospital Shopping Center (Sancti Spíritus) and Cabaiguán branch.
Santiago de Cuba: Palma Soriano Branch.
Pinar del Río: Martí Street Shopping Center, Consolación del Sur and Sandino.
Mayabeque: Güines Shopping Center.
Guantánamo: Guantánamo II Shopping Center.
Matanzas: Hicacos Shopping Center (Varadero) and office with 8,000 ticket counters (Cárdenas).
Artemisa: Branch Bauta.
The official source indicated that it is expected that the service will continue to expand gradually in the coming weeks, always under the premise of a "controlled" implementation and using digital appointment systems to avoid crowds and disorder.
The mandatory shift through Transfermóvil
As in previous stages, the digital appointment system through the Transfermóvil app is the only channel available for accessing the purchase of foreign currency.
In the "MyTurn" section, users must register and wait for their assignment to go to the offices.
However, numerous users have expressed doubts about this procedure, especially those who have been registered for over a year without results.
On social media, some claim that appointments are starting to become available more quickly, but at a much higher price.
“Now it arrives quickly, but they are waiting for you with the belt in hand”, an internet user joked.
A price far removed from the salary
One of the most controversial points is the current rate at which the sale is conducted.
Although the Government established a floating rate—with current values around 417 pesos per dollar and 491 per euro—the figures indicate prices much higher than the previous official rates.
This difference has sparked the displeasure of many Cubans. One user commented, “Their rate isn’t 120, did I misunderstand?” to which another replied, “No, it’s 400 and up. I got mine today, and where am I supposed to get more than 40,000 pesos when the miserable salaries barely cover food?”
Another comment noted: “Before, at 123 for 100 USD, the lines were years long. Very few CADECAs and very few turns. What happened now? Where did all those dollars come from?”
Reactions to the measure show a mix of mockery, frustration, and resignation. Many question that, although it is now easier to get an appointment, the prices are still unaffordable.
A netizen claimed, "At 50, it's your turn to sell yourself for 100... how comical!" Others, with a sarcastic tone, asked, "Does that actually work? I signed up, and time went by, and an eagle flew over the sea... for nothing and for no reason."
Even those who have finally managed to make a purchase question the usefulness of the mechanism: “Today it was my turn to buy. Of course I couldn't. The dollar at 417 pesos. Tell me,” a user complained.
Despite the symbolism surrounding the opening of new offices, the measure continues to raise doubts about its actual effectiveness, particularly because the disconnect between the average salary and currency prices remains a critical issue.
From the Government's perspective, the narrative is different: they assert that the measure will allow for better territorial access to the formal foreign exchange market and that the State has sufficient backing to support the operation.
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