Cuba ends dual-currency regime

cuban peso

Cuba will end its dual currency system from the start of next year, the country’s president, Miguel Díaz-Canel, said in a televised speech on December 10. 

The Communist regime will phase out the use of the Cuban convertible peso (CUC) and establish the Cuban peso (CUP) as sole legal tender.

The monetary change “will put the country in a better position to carry out the transformations needed for strengthening the economy”, Díaz-Canel reportedly said.

He admitted, however, that the change

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