The Central Bank of Cuba (BCC) stated that in recent weeks, the distribution of the new 2,000 and 5,000 CUP banknotes in bank branches has increased, but many users responded to the announcement questioning where that cash is and reporting that they are still having difficulties withdrawing money.
The institution made the statement in an article published this Tuesday, in which it indicated that the circulation of the new denominations is already "a done deal" and emphasized the "increase in their distribution in bank branches in recent weeks".
The BCC focused its publication on explaining the security measures of the 2,000 and 5,000 CUP bills, which feature a design different from the rest of the Cuban monetary cone.
The 2,000 CUP bill features Mariana Grajales Cuello and has predominant colors of purple and pink, while the 5,000 CUP bill displays the image of Celia Sánchez Manduley and primarily uses blue.
According to the institution, both are made with special security paper and have dimensions of 150 by 70 millimeters.
Among the incorporated measures are a watermark featuring the image of the corresponding patriot, a visible denomination under backlight, a vertical security thread with a movement effect, and the initials BCC.
The bills also feature an image of the Butterfly, the national flower of Cuba, with a rainbow motion effect when the viewing angle changes, as well as high-relief printing on the main image and other elements that can be felt by touch.
The Central Bank recommended that anyone with doubts about the legitimacy of a banknote should visit a bank office to verify its authenticity.
The reaction to the Central Bank's post on Facebook showed, however, a concern that was very different from the security or design of the new banknotes.
"Very nice. But there's no cash available nor can it be withdrawn from the bank," commented a user.
Another questioned the actual reach of the announced distribution: “Very good news. But, where are those new high denomination bills? In what part of Cuba are they circulating?.”
Complaints also came from various provinces. "The ATMs in Santiago don't dispense those bills because they haven't been programmed, and well, I hope to get a bill from an ATM one day," wrote one person.
From Granma, another person asked: "Where are the banknotes for Jiguaní?", while a user stated: "Well, I've never seen any. They don't circulate here in my municipality."
There were also those who expressed doubts about whether the increase in cash is due to a higher money supply. "Why is there more cash? Did they print more?" asked one person.
Other comments pointed out the difficulties in receiving useful denominations. One user stated that "here in Matanzas, retirees are being paid in 10 and 20 peso bills," and another person responded that the issue wasn't limited to pensioners: "I've been collecting in 5, 10, and 20 peso bills for 3 months and no one wants them."
"Hopefully, it will reach the ATMs in amounts that are affordable for the population," expressed another internet user.
One of the critiques summarized the issue with two questions: "Thank you. But... when will I see them? Or better... when will I have them?"
There were also questions regarding the quality of the new banknotes. Some users claimed that the new bills are fragile or that the paper is of poor quality, while others praised their appearance and believed that the new design looks better than that of previous denominations.
The new banknotes were announced at the end of March, when the BCC informed that the 5,000 CUP note would begin to circulate initially in Havana starting April 1, and would later be gradually extended to the rest of the country. The introduction of the 2,000 CUP note would also be progressive.
The institution then justified the issuance by highlighting the need to facilitate operations that require large amounts of cash, reduce costs associated with logistics, and expedite transactions in the context of inflation.
However, months after their release, the 5,000 CUP bills continued to be hard to find for many Cubans.
In June, some claimed that they had only seen them in photographs, while others pointed out that the new denominations appeared very infrequently in daily transactions.
In addition to the limited presence reported by users, another issue has recently emerged: counterfeits.
Two young men were arrested in Guantánamo after attempting to pay with a supposed counterfeit bill of 2,000 CUP during the San Joaquín festivities.
The incident occurred less than four months after the new denominations were introduced, and both are under police investigation.
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