MININT Cracks Down on Currency Networks: Dollars Seized in Cuba
Cuba's Ministry of the Interior intensifies raids on the informal currency market, seizing thousands of dollars and arresting several involved parties.
The Ministry of the Interior (MININT) of Cuba has launched a large-scale offensive against the informal foreign exchange market in the last few hours. According to official reports, authorities have successfully dismantled several networks dedicated to the illegal buying and selling of dollars and euros, resulting in the seizure of thousands of dollars in cash and the arrest of multiple individuals involved in these transactions.
This operation comes at a time of extreme economic tension, where the value of the dollar on the parallel market has surpassed 500 Cuban pesos (CUP), widening the gap with the official rate and exacerbating the inflation that is suffocating Cuban families.
Operations in Havana and Provinces
The operations have focused mainly on Havana, although similar actions have been reported in Santiago de Cuba and Holguín. MININT agents have intervened in homes and meeting points where exchanges of large sums of foreign currency were taking place, using intelligence techniques to penetrate these clandestine networks.
A MININT official confirmed that the current strategy seeks to identify not just those selling small amounts, but the “large nodes” operating with millionaire sums of pesos and foreign currency.
Impact on the Cuban Economy
The informal market has become the only way for many Cubans and small businesses (SMEs) to access the foreign currency necessary for imports and savings. However, the government maintains that these speculative activities are directly responsible for the devaluation of the Cuban peso.
Local experts agree that as long as there is no stable official supply of foreign currency in state banks, the informal market will continue to exist despite police pressure.
Frequently Asked Questions (FAQ)
1. What is the legal risk of buying foreign currency in the informal market in Cuba? Cuban laws penalize the purchase and sale of foreign currency outside official banking channels. Those involved can face significant fines or prison sentences, depending on the magnitude of the transaction.
2. How much is the dollar in Cuba today? As of mid-March 2026, the dollar on the informal market is trading above 510 CUP, while the official rate for individuals remains static at much lower levels.
3. Why is the Cuban government intensifying these operations now? The government is looking to curb the inflationary spiral and regain control over monetary circulation in an attempt to stabilize the national financial system before late 2026.
4. Do these raids affect family remittances? While the raids do not directly target those who receive remittances through official channels, the crackdown on informal “buyers” makes it difficult for recipients to exchange their dollars at competitive rates.
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