Articles of monetary order

News »

Cuba’s Minister deems vital monetary overhaul to boost development

Ministro cubA

Cuba’s Minister of Economy Alejandro Gil affirmed on Friday that the monetary overhaul, with the Cuban peso as the only national currency, is an indispensable measure to boost the country’s development. We are entering a period of deep and necessary transformations, for all’s sake, Gil tweeted referring to the implementation of the monetary and exchange rate unification that will come into force on January 1, 2021.

News »

Cuba will start currency unification as of Jan 1st

Moneda cubana

Cuba will start dismantling its current two-teer monetary system as of January 1st, leaving the traditional peso (CUP) as the only official currency of the land at an initial exchange rate of 24 to 1 US dollar. President Miguel Diaz-Canel made the announcement last night at a special message to the nation in a radio-television hookup.It is the first measure formally announced as part of broader plan to overhaul the economy.