Economy Country March 03, 2025

Increase of the Dollar in Cuba

Dollarization in Cuba has accelerated with more stores and services operating in dollars, including fuel sales. This change reflects the growing influence of the informal market on the Cuban economy.


Increase of the Dollar in Cuba

The advancement of dollarization in Cuba has become evident with the opening of more stores and services that operate exclusively in dollars. A clear example of this is the sale of fuel conducted in this currency.

This phenomenon has led to an increase in the valuation of the dollar in the Cuban informal market. Although the official currency on the island remains the Cuban peso, the presence and acceptance of the dollar have been rising.

In the words of a local economics expert: "The dollar has become a commonly used currency in daily transactions, which is generating significant changes in the Cuban economy."

It can be observed how dollarization is gradually transforming the economic dynamics of Cuba, paving the way for a dual system where the Cuban peso and the US dollar coexist. This trend presents challenges and opportunities for the population and local authorities in a context of economic transformations.