Cuban Humor Shines Through Economic Crisis: Memes on the Floating Exchange Rate

The recent introduction of a floating exchange rate by the Central Bank of Cuba (BCC) has sparked a wave of humor across social media platforms. From Facebook to X (formerly Twitter), Cubans are turning to memes to express their skepticism, mockery, and frustration over a policy that many perceive as a mere imitation of the informal market that the regime had previously tried to discredit.

Kicking off the meme frenzy, the independent media outlet El Toque shared a Star Wars-inspired meme. In it, Darth Vader (representing the BCC) informs Luke Skywalker (El Toque): “I am your father!” This hilarious post, shared thousands of times, humorously encapsulates what many see as the state's surrender to the realities of the existing currency market.

Adding to the irony, the page El Pelotazo contributed with several memes. One features Mr. Bean copying answers during an exam with the caption “Right click > Copy > Paste,” a clear jab at the Central Bank for seemingly duplicating the rates previously published by El Toque.

Another meme targets the official spokesperson Humberto López, who criticized El Toque shortly before the BCC adopted nearly identical rates, highlighting the irony of the situation.

Journalist Edmundo Dantés Junior humorously commented on the monetary chaos with his post “2026: Year of Five Rates in Revolution,” listing the exchange rates currently coexisting in Cuba’s economy: 1x24, 1x120, the floating rate, El Toque’s rate, and the MLC rate. His post struck a chord with users, who see this proliferation of exchange rates as a metaphor for the nation’s economic disorder.

Adding a political edge, the group Memes Abeja Cuba mocked official spokespersons who accused El Toque of “inducing inflation.” Their image features three clowns representing these media “clarions,” with a text that sarcastically celebrates the regime’s repeated blunders.

On X, user Ñango Leyva turned the news into satirical art with an illustration of a toilet floating on the sea, captioned “Now you have a floating rate #CubaFailedState #SOSCuba.” Shared multiple times, this image reflects the sentiment of many Cubans who feel the country is sinking while the government insists it’s staying afloat.

The general distrust was also evident in the Habanero Memes account, which shared a viral image of Susely Morfa with the phrase: “Who’s going to follow the floating rate published by the bank?” and the emphatic response: “No one!”

Humor has become a means of coping with the confusion generated by the new policy. Even in official spaces, the comments echo the overall sentiment: “Criticizing El Toque only to end up the same,” “They changed the name, not the rate,” and “Now we have a floating rate, because everything floats except salaries.”

Since December 18, the country operates with three exchange segments: 1x24 for state services, 1x120 for entities with external income, and a “floating” rate for the private sector and individuals, starting at 410 CUP per dollar and 481.42 CUP per euro. These figures closely match those of the informal market, where the dollar hovers around 440 CUP.

The Central Bank claims the rate will fluctuate according to supply and demand and will be updated daily. However, limited access to foreign currency and a lack of institutional credibility lead many to view this as a temporary and superficial measure. Meanwhile, Cubans continue to do what they do best: laugh at their predicament. In the end, humor remains the strongest currency in the country.