The CUC will cease circulating in Cuba on January 1

Cuba will start its means of financial and change unification on January 1 with the circulation outlet of the convertible peso (CUC) -parity with the dollar-, which can depart the nation’s solely official foreign money Cuban peso (CUP), with a single official conversion fee of 24 pesos to the greenback, stories EFE.

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The long-awaited announcement that places an finish to months of hypothesis concerning the “zero day” on which the CUC would disappear and concerning the new CUP change fee, was made on state tv by the nation’s president, Miguel Díaz-Canel, accompanied by the ex-president and chief of the Communist Social gathering of Cuba, Raúl Castro.

“We reiterate the significance and significance of this job that may put the nation in higher situations to hold out the transformations that the updating of our financial and social mannequin calls for on the idea of guaranteeing all Cubans the best equality of rights and alternatives,” mentioned the ruler.



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