Cuban banks will temporarily stop accepting US cash deposits
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This decision was made as a result of the economic blockade by Washington, the Central Bank of Cuba explained.
In Cuba, banks from June 21 will no longer accept US dollars in cash for crediting to customer accounts. This was announced yesterday by the Central Bank of Cuba. TASS Friday, June 11th.
“Given the obstacles that have arisen as a result of the economic blockade by the United States, it was decided to temporarily stop accepting banknotes of this country by the Cuban banking and financial system,” the statement said. “From June 21, 2021, Cuban banking and financial institutions will temporarily stop accepting cash deposits. US currency “.
As you know, since 1994, Cuba has two official currencies – the Cuban peso and the Cuban convertible peso, which since its introduction was intended to replace the US dollar in the country. The current official exchange rate for convertible pesos for citizens is $ 1 or 24 Cuban pesos.
From January 1 large-scale monetary reform began in Cuba, designed to eliminate the system with parallel circulation of two official currencies and to peg the Cuban peso to a single exchange rate of –24 Cuban pesos.
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