MONETARY REUNIFICATION IN CUBA? by alexander19

busy · @alexander19 · May 26 '18

$0.04

MONETARY REUNIFICATION IN CUBA?

<div class="text-justify">he Central Bank of Cuba called on Thursday to calm the false rumors that one of the 2 coins circulating in the country will be withdrawn urgently in the process of monetary reunification, which led to a crowd coming to banks and homes exchange.

This event is based on the false information that the convertible peso (CUC) will soon be taken out of circulation as a measure of monetary unification.

Monetary unification is one of the main pending reforms in Cuba, where two currencies currently circulate: the Cuban peso (CUP), in which state salaries are paid, and the convertible peso (CUC), the strong, equalized money with the dollar and equivalent to 24 CUP according to the official open exchange rate.

The persistent rumors about the closeness of the unification of currency, in which the Cuban government has been working since 2013 in order to eliminate the CUC, has stimulated in recent weeks that many citizens attend banks and exchange offices to get rid of that currency and change it to CUP, dollars or euros.

The Cuban government says that the CUC will continue in circulation until such time as its withdrawal is decided as part of the process of monetary unification. They also insist that duality has hurt the economy and that skilled workers decide to look for work in private companies to receive CUC instead of CUP.

In my humble opinion, what they do not say is that in order for a Cuban worker to receive the equivalent of a CUC, he must strive to obtain 24 CUP. Besides, they do not mention that when tourists arrive on Cuban soil when they change euros or dollars to CUC, which is the strong currency on the island and with which tourists cancel their services during their stay in the country, the Cuban government charges them for change 10% of the value is to say that it is not 1x1 as they say there is a parity so at first you receive 90% of the value of that dollar or euro.

Any resemblance to the wrong economic policies of socialist countries in the region is mere coincidence.</div>

https://cdn.steemitimages.com/0x0/https://www.visitarcuba.org/Images/moneda-cuba-pesos-cubanos.jpg
[FUENTE](https://cdn.steemitimages.com/0x0/https://www.visitarcuba.org/Images/moneda-cuba-pesos-cubanos.jpg)

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