On Sunday, the euro experienced a rise in its average selling rate for the second consecutive day. Throughout today, the ...

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The Cuban informal currency market continues to be a hotbed of activity, with the euro experiencing a significant increase as ...

The Cuban convertible peso or "chavitos" are equivalent to one US dollar. However the "convertible" description of the new currency is questioned since it's only accepted in Cuba although it ...

As a consequence, many end up hoarding Cuban pesos to later change into foreign currency on the informal market. Converting those Cuban pesos to other currencies poses yet another challenge ...

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

The monetary reform, which was put in place in January 2021 to end the double-currency system, failed to establish the Cuban peso as the only one and led to an estimated 500 percent inflation in ...

This includes eliminating the double currency system ... Cuba has two currencies: the Cuban convertible peso (CUC), equivalent to 1.08 U.S. dollars, and the national peso (CUP), valued only ...

peso is the legal tender in Cuba and is used by the majority of the ... the peso skyrocketed after the unification of its national currency was launched. In addition, the non-payment of ...

“There are many factors that have led to the current crisis but this is one ... businesses — had a net worth of 22,7 billion Cuban pesos. That’s almost 13 times what the government invested ...