Cuba authorizes dollar deposits in cash

The Cuban government authorized dollar cash deposits, transactions that had been suspended since 2021

The Cuban government again authorized, starting this Monday, dollar cash deposits that had been suspended in 2021 by a resolution of the Central Bank of Cuba (BCC).

The resolution of the Central Bank (BCC) published on Monday in the Official Gazette, indicated: “As of this moment, financial and banking institutions will accept cash deposits of US dollars in bank accounts.”

The measure has been taken in view of the serious inconveniences of Cuba to deposit in international banks the dollars that are obtained in national territory. This, as a result of the blockade imposed.

On the other hand, the repeal of the order issued in 2021 by the BCC is expected to provide support for the economic strengthening of Cuba and a boost to tourism, which has experienced a slight recovery.


Source: eluniversal

(Reference image source: Alexander Grey, Unsplash)

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