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Cuba Restores Parity between the Convertible Peso and the U.S. Dollar

Cuban convertible peso

An analysis of all these factors has resulted in the conclusion by the Monetary Policy Committee of the Central Bank of Cuba that it is opportune to devalue the Cuban convertible peso exchange rate with the dollar and other foreign currencies by 8%; in other words, to reestablish parity between the convertible peso and the U.S. dollar.