Cuba’s Ministry of the Interior (MININT) has launched an aggressive offensive against what it terms “criminal structures” dedicated to the illegal purchase and sale of foreign currency on the informal market. According to official reports and independent press, authorities have initiated over 300 judicial investigations across the island, leading to the seizure of thousands of US dollars and millions of Cuban pesos (CUP).

The Impact on the People’s Economy

The crackdown comes at a time of extreme volatility for the national currency. With the US dollar surpassing the 500-peso threshold on the informal market in early March 2026, the government aims to curb devaluation through police control. However, economists warn that these punitive measures often have the opposite effect, driving prices upward due to the increased risk for currency exchangers.

Details of the Operations

The operations have focused on:

Social Networks: Close monitoring of WhatsApp and Telegram groups where transactions are arranged.
Hotspots: Physical interventions in known exchange zones in Havana, Santiago de Cuba, and Holguín.
Seizures: In addition to cash, there have been reports of mobile phones and other assets confiscated related to the transactions.

Frequently Asked Questions (FAQ)

Why is the Cuban government targeting the informal currency market? The government believes the informal market distorts the economy and accelerates inflation, making it harder to implement official monetary policies.

What risks do those exchanging money on the street face? In addition to potential scams, individuals are exposed to criminal penalties for “currency trafficking,” which can include heavy fines and prison time.

How does this affect the price of the dollar? Historically, police operations reduce the street supply of dollars, which can trigger a sudden price hike in the following days due to scarcity.

Are there legal alternatives to buy foreign currency in Cuba? Official exchange houses (CADECA) offer a fixed rate, but currency availability is often zero for the general population, pushing most to the informal market.

Sources: Cubadebate, CiberCuba.

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