Cuba will stop accepting cash dollars

Cuban banks from June 21 will stop accepting cash dollars for crediting to clients’ accounts, said the first deputy chairman of the Central Bank of Cuba Francisco Maiobre Lense. The Cuban authorities recommend that tourists exchange dollars for a currency that is accepted for payment.

“From June 21, in accordance with the measures taken, cash dollars will not be accepted, so those who arrive in the country from that day should have any other currency accepted by Cuban banks with them. We are now talking about cash, there will be no problems with payment by cards, ”said Mr. Mayobre Lense on the air of the Mesa Redonda TV program (translated by TASS).

In 2004, Cuba introduced the convertible peso to replace the US dollar. At the end of 2020, its official exchange rate for citizens was one dollar or 24 Cuban pesos, and for businesses it was one dollar or one Cuban peso. From January 1, 2021, Cuba abandoned the parallel use of two national currency rates and switched to a single rate of 24 pesos per dollar.

About the reform of the Cuban monetary system – in the material of “Kommersant” “Cuba chose a cheaper peso.”

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