Central Banking

Cuba introduces tax on exchanging dollars

Cuba has introduced a 10% tax on the exchange of dollars, originally intended to accompany restrictions introduced last week which outlawed the use of dollars in domestic transactions.

The ban came into effect last monday, and removes the status of legal tender which was granted to the dollar in 1993 in an attempt to attract hard currency to the island. It is claimed to be an attempt to preserve economic independence in response to the US crackdown on Cuba's access to dollars. However, many see

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.