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In 1981–1989, Cuba used so-called INTUR coins and cheques. Convertible foreign currency was exchanged into these cheques rather than the national currency, which could be used to buy some luxury goods not available for purchase in the national currency. Also, from 1985, Banco Nacional de Cuba issued foreign exchange certificates of various types.
The Cuban peso (in Spanish peso cubano, ISO 4217 code: CUP) also known as moneda nacional, is the official currency of Cuba.. The Cuban peso historically circulated at par with the Spanish-American silver dollar from the 16th to 19th centuries, and then at par with the U.S. dollar from 1881 to 1959.
In Cuba between 1993 and 2004, a dollar store (Spanish: tienda de dólares), officially Tiendas de Recaudación de Divisas ("Foreign Currency Collection Shops") or Tiendas Recuperadoras de Divisas ("Foreign Currency Recovery Shops"), was a government-owned shop that sold goods solely in exchange for hard currency, originally mainly to foreigners and tourists, in the same way as a friendship ...
The Central Bank of Cuba (Spanish: Banco Central de Cuba - "BCC") functions as the central bank of Cuba. The Cuban government set it up in 1997 to take over many of the functions of the National Bank of Cuba (Spanish: Banco Nacional de Cuba - BNC). Francisco Soberón Valdés served as the Bank's President from its creation until he stepped down ...
The Central Bank of Cuba (Spanish: Banco Central de Cuba, BCC) is the central bank of Cuba. It was created in 1997 to take over many of the functions of the National Bank of Cuba (Spanish: Banco Nacional de Cuba ), which was established on 23 December 1948 [ 2 ] and began operations on 27 April 1950.
Tourism was regarded as the only stable sector of the Cuban economy and became the subject of policy changes to enhance its development. Cuba legalized the use of the US dollar and created a dual currency system, one based on the dollar and the Cuban convertible peso with the other system based on the Cuban peso. Different institutions and ...
The U.S. has returned 87 people from Cuba trying to reach Florida by sea since October 1, 2020. [14] March 31 – Russia and Cuba begin two days of high-level diplomatic talks. [15] April 19 – At the 8th Congress of the Communist Party, Raúl Castro officially resigned as the First Secretary, the most powerful position in Cuba. [16]
After the opening of the island to world trade in 1818, trade agreements began to replace Spanish commercial connections. In 1820 Thomas Jefferson thought Cuba is "the most interesting addition which could ever be made to our system of States" and told Secretary of War John C. Calhoun that the United States "ought, at the first possible opportunity, to take Cuba."