Cadeca stops selling dollars to the population

2024-10-14 16:43:00

CUBA NEWS

Users who have already secured a slot through the Ticket application will retain their place in the virtual queue when the service resumes

Published on October 14, 2024 – 12:43 PM

The delay in the virtual queue to buy currency through the Ticket platform is associated with less currency availability. (Photo: Cuba Newspaper)

Flash Exchange Houses (Cadeca) The sale of dollars (USD) was stopped for more than a week at the official exchange rate of 120 Cuban pesos (CUP) for each USD. Gustavo Bermúdez, director of Cadeca in Villa Clara, recognized this before the official radio station. CMHW.

Bermúdez explained that the main reason for the delay in the transfer of the database of thousands of people registered in a virtual queue to buy the 100 units of international currency allowed in each change. The government decided that the Ticket application would no longer be used and created an article called My Conversion within the Transfermovil application.

Although the change was planned to take place in a few days and be transparent to users, that is, the one who was already registered would not have to do anything more than Transfermóvil installation, the blackouts that affect the whole country after the work of the users are difficult.

“Previously assigned shifts will not be lost. Users who had already received an appointment through the application ticket “They will keep their position in the virtual queue when the service resumes,” said the Cadeca director.

When it’s finally live, the new option will allow more people to use it, even the unbanked. The new platform aims to make the process of assigning shifts for the purchase of currency more efficient. But at the moment, Cadeca has not been selling dollars for more than a week and there is no forecast as to when the Transfermóvil option will be enabled.

The provincial official did not dare to give a specific date, since he does not depend on it. However, he indicated that it is likely that before the end of October the controlled sale of foreign currency in Cadeca can resume.

Users need to pay 10 CUP to get a turn in a virtual queue through the new My Turn function. This queue can last for several months, and will only allow $100 purchases per transaction. The platform will also send relay status notifications and reminders before the assigned purchase date.

In the informal Cuban market, the US dollar is quoted at 325 CUP, and the euro reaches a value of 340 CUP. For its part, the MLC, which is crucial for accessing products in special stores, stands at 265 CUP. These rates, which are much higher than the official ones, reflect the increasing dollarization of the Cuban economy and the strong demand for foreign currency due to the scarcity of goods and services on the island.