Cuba’s MININT Cracks Down on Informal Currency Networks

The Ministry of Interior of Cuba (MININT) has launched an unprecedented offensive against structures operating in the informal currency market on the island. According to recent official reports, authorities have opened over 300 investigations related to the illegal trafficking of dollars and other foreign currencies, a phenomenon that has escalated amid the profound economic crisis facing the country.

A Wide-Ranging Operation

Lieutenant Colonel Yisnel Rivera Crespo, head of the Department of Confronting Economic Crimes, revealed on the television program Hacemos Cuba that these criminal networks move “non-negligible volumes of money.” Recent operations have resulted in the seizure of hundreds of thousands of dollars and millions of Cuban pesos.

Authorities indicate that these structures have grown in complexity, often involving Cuban citizens residing abroad who act as financiers. The government’s stated goal is to curb the negative impact this illegal market has on the nation’s macroeconomic stability.

Informal Market vs. Official Rate

Despite police pressure, the informal market remains the primary way for many Cubans to access foreign currency, given the State’s inability to meet the demand. For this month of March 2026, the US dollar (USD) is trading above 510 Cuban pesos (CUP) on the black market—a figure that is more than triple the official exchange rate.

This disparity fuels inflation and makes it difficult for the majority of the population, who receive their salaries in national currency, to access basic goods.

Frequently Asked Questions (FAQ)

How many investigations are currently under way?

Currently, MININT has more than 300 active investigations focused on dismantling currency buying and selling networks.

Who finances these illegal operations?

According to MININT, many of these structures rely on financial support from Cubans living abroad.

What is the informal exchange rate for the dollar?

In March 2026, the dollar has reached values exceeding 510 CUP in the informal market, according to independent monitoring.

What is the goal of these operations?

The Cuban government seeks to “stabilize” the economy and halt the devaluation of the Cuban peso, though experts doubt the effectiveness of police measures without fundamental economic reforms.

Related Context

This tightening of surveillance occurs within a context of massive blackouts lasting up to 20 hours and a severe fuel shortage that has paralyzed much of the country. Economic pressure has led to a boom in the black market as a survival mechanism.

Sources: Cubadebate, CiberCuba, Resumen Latinoamericano.