New term for convertible peso exchange ‘Cuba’ granma

A new period of 90 days for the freely convertible currency (CUC) exchange (cash), for the Cuban Peso, has been established by Decree-Law 62, published in the Official Gazette of the Republic of Cuba.

The State Council, dated May 27, 2022, and amending Decree-Law No. 37 of June 14, 2021, approved the new rule that responds to the fact that the complex situation, resulting from the epidemic, prevented a large number of people from carrying out this process in the predetermined time periods, therefore, Today they have this ancient coin in their possession.

With the new term, the exchange rate of 24 Cuban pesos per convertible peso will be maintained. The measure responded to the implementation of the monetary arrangement process, and allowed to solve the problem of the dual currency, as well as remove the obstacles that it represented to the economic development of our country.

The Central Bank of Cuba, in turn, issued Resolution 108 of 2022, which provides for the purchase from various branches of the free convertible pesos received through the exchange, while strictly observing the current regulations for its withdrawal from circulation.

Decree-Law No. 62 will enter into force 15 days after its publication in the Official Gazette, which, in this case, is dated June 2, 2022.

Leave a Comment