Currency Exchange Network Opens New Locations Across Cuba: Here's Where to Find Them

The Cuban currency exchange network, known as CADECA, has announced the launch of twenty new branches throughout the island. This move is part of their ongoing efforts to restructure the foreign exchange market by making it more accessible to the general public, with these new offices distributed across most provinces.

This initiative, which began on December 30, aligns with the government's recent adjustments following the implementation of a new floating exchange rate system that took effect on December 18.

"Starting December 29, the option to access foreign currency sales will be available to the public through the 'MiTurno' feature on the Transfermóvil app," the official statement explains. However, the service officially began operations the following day, on December 30.

Locations Offering Currency Exchange

CADECA has provided details of the locations where individuals can now purchase foreign currency in person. The list includes:

Havana: Línea y Paseo Shopping Center (Plaza de la Revolución), Galería 3ra y 70 (Playa), Neptuno Shopping Center (Centro Habana), 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: Calle Martí Shopping Center, Consolación del Sur, and Sandino.

Mayabeque: Güines Shopping Center.

Guantánamo: Guantánamo II Shopping Center.

Matanzas: Hicacos Shopping Center (Varadero) and 8 Mil Taquillas Office (Cárdenas).

Artemisa: Bauta branch.

According to official sources, the service is expected to expand gradually in the coming weeks, following a "controlled" process and utilizing digital appointment systems to prevent crowding and disorder.

Appointment System Through Transfermóvil

As in previous phases, the digital appointment system via the Transfermóvil app remains the sole channel for accessing currency purchases. Users need to register in the "MiTurno" section and wait for their appointment to visit the offices.

However, many users have voiced concerns about this procedure, particularly those who have been on the waiting list for over a year without results. On social media, some claim that appointments are now being released more quickly, but at significantly higher prices. "Now it comes fast, but they wait for you with the belt in hand," joked one user.

Currency Rates Beyond Reach

One of the most contentious issues is the current exchange rate for currency transactions. Although the government has introduced a floating rate — currently around 417 pesos per dollar and 491 per euro — these figures are far higher than previous official rates. This discrepancy has sparked discontent among many Cubans.

A user remarked, "At their rate, it's not 120, did I misunderstand?" to which another replied, "No, it's over 400. I got my turn today, and where am I supposed to get more than 40,000 pesos when the meager salaries barely cover food?"

Another comment noted, "Before, at 123 for 100 USD, the line was years long. Very few CADECAs and very few turns. What happened now? Where did all these dollars come from?"

The reactions to this measure have been a mix of mockery, frustration, and resignation. Many question whether, although it may be easier to get an appointment now, the prices remain unattainable. "At 50 years old, it's your turn to sell you 100... how funny!" one user commented sardonically. Others, with a sarcastic tone, ask, "Does this work? I signed up, and time passed, an eagle flew by the sea... for nothing."

Even those who have finally managed to purchase currency question the system's utility: "Today was my turn to buy. Of course, I couldn't. The dollar is at 417 pesos. Tell me," lamented another user.

Despite the symbolic significance of opening new offices, the measure continues to raise doubts about its practical efficacy, especially given the gap between the average salary and the cost of foreign currency.

From the government's perspective, they claim the measure aims to improve territorial access to the formal currency market and assure that the state has adequate backing to support the operation.