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January Thursday

Monetary order in Cuba after 72 hours of implementation

HAVANA, Cuba, Jan 4 (ACN) On January 1st, the monetary order began in Cuba and, 72 hours later, several measures have been implemented by the actors of the economy, along with the doubts and concerns expressed by the population.

The Central Bank of Cuba (BCC) informed that the exchange rate is 24 CUP with respect to the USD and on it the banks apply a commercial margin (now reduced) for the purchase and sale.

This commercial margin decreases for cash operations from 2.75 percent to 2.08333 percent, so the population will receive 23.50 CUP for each USD exchanged.

The banks also announced an increase in the amount for operations carried out with debit cards, the maximum limit per day is 15,000 pesos; per operation, 5,000 pesos; and the number of operations to be carried out in one day is 10.

For electronic payment channels the maximum limit per day and per operation is 30, 000 pesos, and up to 20 operations can be carried out per day.

The announcement that for 180 days the CUC will be accepted in 784 CIMEX commercial establishments distributed throughout the national territory, and in 1,014 of Tiendas Caribe is kept; and the network of establishments per province is to be found on the social media of both entities.

Regarding the new cost of the regulated bread -one peso-, an issue that has generated concern among the population, taking into account the quality-price relationship, Yosvany Pupo, General Director of Services of the Ministry of Domestic Trade (Mincin by its Spanish acronym), explained in Buenos Dias TV morning program that the existing subsidy until January 1st was eliminated from this product.

He commented that the cost of the product is 0.97 cents, with a commercial margin of only 0.3 cents, and now it is time to demand that it fulfills the established standards.


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