The measure comes amid an enormous drop in tourism and the ensuing lack of onerous foreign money, Cuba’s trade firm mentioned.

Folks leaving Cuba can not change their native payments again into {dollars}, euros or different different onerous foreign money on the official trade price beneath a brand new coverage introduced this week.

The federal government closed the airport departure lounge trade cubicles that had allowed travellers to vary as much as $300 on the official price of 24 Cuban pesos to the greenback — about double the black market price contained in the nation.

That provides outbound guests little choice however to spend the pesos they’d purchased earlier than leaving the nation.

The state’s Cadeca trade firm mentioned the measure was as a consequence of a drastic drop in tourism in the course of the coronavirus pandemic and the ensuing lack of onerous foreign money.

The scramble for onerous foreign money has accelerated as a consequence of a reform eliminating a “convertible peso” that had its worth tied to the greenback and that some Cubans may entry, in addition to the opening of latest outlets that promote solely in {dollars} — or with bank cards backed by onerous foreign money.

“We have now to recognise that concern that’s current within the economic system,” Economic system Minister Alejandro Gil mentioned Thursday, although he assured that the official trade price would stay at 24-to-1.

LEAVE A REPLY

Please enter your comment!
Please enter your name here