Banco Central de Cuba about the exchange rate for certificates of deposit in US dollars

With the abolition of the Cuban Convertible Peso (CUC), the Central Bank of Cuba reported that bank accounts of collaborators could benefit from some type of certificate of deposit in euros or US dollars.

These certificates of deposit “act as a product that banks use as a form of savings that confirms that people have a deposit in the banks and that it belongs to them,” says the official BCC website.

The banking authority made it clear in its infancy The certificate of deposit It will not have support in freely convertible currency. Therefore, people who have decided to put their money into this type of product cannot conduct transactions in MLC.

In addition, many accounts of Cuban collaborators were automatically changed to CUP, at an exchange rate of 1 x 24.

After declaring the Cuban exchange market, first by financial institutions buying dollars and other currencies, the Central Bank ratified the following:

“The exchange rate applicable to accounts in CUC for overseas collaborators is 1 CUC x 24 CUP. In the case of accounts with a 30% discount, they retain their benefits.”

Cuban collaborators: certificates in US dollars

With the possibility of obtaining foreign currency in Cuba as of August 23, many specialists on the Cubadebate website asked:

“My CUC account when the rearrangement became a few Cuban pesos and I decided to create the famous dollar deposit account. Currently they have not given any explanation in the round table if I can get my money in dollars at any exchange rate, I don’t care 110 or 125. What I won’t accept is That my money, which I entrusted to the bank, will reduce its value to 23.50 at once.

“The collaborators from Venezuela who made the certificate in US dollars, can we sell it at 110 pesos, or can we already use it or get it in cash from the bank? What will happen to the Venezuelan card if everything will be in MLC and after 3 years I can’t use it and Medical did not explain to us Collaboration anything?

From the Cuban Central Bank they were limited to responding to that “In the event that you wish to withdraw all or part of the balance available on your Certificate of Deposit, it will be with the new exchange rate”.

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