{"id":256087,"date":"2022-08-05T18:08:50","date_gmt":"2022-08-05T22:08:50","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=256087"},"modified":"2022-08-05T18:08:50","modified_gmt":"2022-08-05T22:08:50","slug":"cuba-purchase-of-foreign-currency-from-population-announced","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/cuba-purchase-of-foreign-currency-from-population-announced\/","title":{"rendered":"Cuba: purchase of foreign currency from population announced"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Cuban government will start buying foreign currency from the population as an initial step to open a new foreign exchange market on the island.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Minister of Economy and Planning Alejandro Gil Fern\u00e1ndez announced on the Mesa Redonda television program that as of this Thursday the purchase of foreign currency from Cubans will begin, and that all currencies will be accepted, including the USD. \u201cAs of tomorrow, all people will be able to sell their currency to the State,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The sale of foreign currency will remain suspended until \u201cconditions allow it.\u201d \u201cDollars or other currencies will not be sold to Cubans yet,\u201d since this \u201cis part of a step that will be taken later.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The exchange rate, he said, will be 120 Cuban pesos to one dollar. \u201cThis step that will begin tomorrow, Thursday, has no impact on the operation of the business sector, where the exchange rate will continue to operate at 1 \u00d7 24,\u201d he stressed.<\/span><\/p>\n<p><a href=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/08\/Tasa-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-256090\" src=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/08\/Tasa-1.jpg\" alt=\"\" width=\"602\" height=\"753\" srcset=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/08\/Tasa-1.jpg 602w, https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/08\/Tasa-1-240x300.jpg 240w\" sizes=\"auto, (max-width: 602px) 100vw, 602px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0\u201cUS dollars purchased in banking institutions are not deposited on cards in freely convertible currency due to the impossibility of operating with that currency in international transactions,\u201d he noted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He explained that the purchase market will work for all individuals and that the population will receive the money in their accounts in CUP and in cash.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He clarified that all operations would be carried out at bank windows, not at ATMs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also announced that the value of the foreign currency will tend towards an \u201ceconomically based\u201d exchange rate, but lower than the black-market rate, \u201cwhere we can work with all currencies, including dollars in cash.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For her part, Minister President of the Central Bank of Cuba Marta Sabina Wilson Gonz\u00e1lez ratified the rate of 1 \u00d7 120 Cuban pesos, flexible, she said, according to the point of sale of the currency.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The exchange rate will be 120 Cuban pesos for one dollar, said the Minister of Economy and Planning. The sale of foreign currency will remain suspended until \u201cconditions allow it.\u201d<\/p>\n","protected":false},"author":3134,"featured_media":256089,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13904],"tags":[29036,33476],"ppma_author":[33546],"class_list":["post-256087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-economy","tag-dollarization-of-cuban-economy","tag-monetary-reogranization"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba: purchase of foreign currency from population announced | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"The exchange rate will be 120 Cuban pesos for one dollar, said the Minister of Economy and Planning. 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