Sandro Castro Ventures into Currency Exchange Market with His Own Rate

The Cuban entrepreneur Sandro Castro, grandson of the late dictator Fidel Castro, recently announced on his Notisandro broadcast that he plans to introduce his own reference rate for Cuba's informal currency market. This follows weeks of attacks on the independent media outlet elToque, which he blames for the rising dollar on the island.

In an Instagram video, Castro, dressed in black with dark sunglasses and a solemn demeanor, burns a document bearing elToque's logo, asserting that Cubans should "be the ones deciding the price," rather than relying on the outlet's publications.

"As I've explained before, we can't panic at the first sign of trouble. We are the customers; they simply reflect a price. We need to be the price setters, not them," the young businessman declares before setting the paper alight.

With dramatic gestures, Sandro continues, "I've told you before, don't be stubborn... we must be smart. We'll also have reference rates, and I'll introduce one. Remember, folks, we are the decision-makers, not them."

Despite its humorous format, the message marks a rhetorical shift: for the first time, Sandro Castro explicitly states that he will create his own exchange rate, suggesting an attempt to influence the informal market's dynamics or at least symbolically impact it.

Ongoing Conflict with El Toque

The clash between the dictator's grandson and the independent outlet elToque has been escalating for weeks. At the end of October, Castro accused the site of driving up the dollar and proposed forming a business association to control currency prices in the informal market.

Soon after, he intensified his attacks on the platform, describing it as a "dark elite" that "artificially manipulates" the dollar's value to profit at the people's expense.

elToque quickly responded, refuting the accusations and accusing Castro of diverting attention from those truly responsible for the black market. "If we follow Sandro Castro, those who want to be the reference in the informal currency market are its main actors," the publication replied, pointing to regime-aligned businessmen as the primary beneficiaries of the illegal exchange system.

The confrontation reached a new level when elToque's director, José Jasán Nieves, was subjected to a public shaming in Mexico by Cuban regime supporters. This incident sparked outrage among journalists and activists, who saw it as an extension of the harassment independent media faces within the island.

From Mockery to Political Intent

The new Notisandro video continues this narrative, wrapped in a parody format. Amidst segments on "cultural news" and "sports news," Castro weaves in political phrases with a mocking tone but loaded with intent: "we have gas," "don't be stubborn," or "we are the price setters."

However, the moment he announces his plan to "launch his own rate" was taken on social media as a declaration of intent. "Which I will release," he repeats, looking at the camera and pointing the lighter at the burning paper with elToque's logo, a symbolic gesture of defiance.

The tension between elToque and Sandro Castro underscores a deeper struggle between the economic elite tied to the regime and independent spaces documenting the crisis transparently. While elToque continues to publish rates based on verifiable data, Castro insists that economic power should reside with those who "buy dollars in large volumes," namely, private entrepreneurs authorized by the system itself.

In a context of rampant inflation, chronic shortages, and the devaluation of the Cuban peso, Sandro Castro's attempt to position himself as an economic authority highlights the growing battle for narrative and symbolic control over the island's currency market.