This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/526403-cuba-tourists-no-dollar-cash/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Tourists told to leave dollars at home as Cuban banks will no longer accept greenback | Tourists told to leave dollars at home as Cuban banks will no longer accept greenback |
| (3 months later) | |
| Cuba has asked tourists not to bring dollars with them to the Caribbean island, as the US currency will no longer be accepted in the country, according to the first vice president of the Central Bank, Francisco Mayobre Lence. | Cuba has asked tourists not to bring dollars with them to the Caribbean island, as the US currency will no longer be accepted in the country, according to the first vice president of the Central Bank, Francisco Mayobre Lence. |
| “People who will be coming into the country during this time will have to arrive with a currency other than the dollar,” the senior official said, as quoted by Granma, the official newspaper of Cuba’s ruling Communist Party. | “People who will be coming into the country during this time will have to arrive with a currency other than the dollar,” the senior official said, as quoted by Granma, the official newspaper of Cuba’s ruling Communist Party. |
| Tourists will be allowed to use cards for payments, as well as make cash withdrawals in other currencies. | Tourists will be allowed to use cards for payments, as well as make cash withdrawals in other currencies. |
| Earlier this week, the Cuban government announced that the country’s banks would temporarily stop accepting cash deposits in dollars. Havana cited severe US sanctions that prevent the nation from using the greenback abroad as the reason for the move. | Earlier this week, the Cuban government announced that the country’s banks would temporarily stop accepting cash deposits in dollars. Havana cited severe US sanctions that prevent the nation from using the greenback abroad as the reason for the move. |
| Both measures come into effect on June 21, and the duration for which they will remain in force depends on the lifting of US sanctions, according to the bank. | Both measures come into effect on June 21, and the duration for which they will remain in force depends on the lifting of US sanctions, according to the bank. |
| More than 20 banks have ceased processing transactions involving Cuba since former US president Donald Trump expanded existing sanctions on the nation. | More than 20 banks have ceased processing transactions involving Cuba since former US president Donald Trump expanded existing sanctions on the nation. |
| Cuba had to impose a 10% tax on dollars for many years due to difficulties with using them because of the embargo. Cuban authorities lifted the tax in 2020 as the country opened more shops selling in hard cash rather than in the local currency. | Cuba had to impose a 10% tax on dollars for many years due to difficulties with using them because of the embargo. Cuban authorities lifted the tax in 2020 as the country opened more shops selling in hard cash rather than in the local currency. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |