![]() As the ministry’s note points out, in this market, “the providers of currency are export companies, foreign visitors, recipients of remittances and other agents who receive foreign currency, while the demand comes from agents of the economy who need to import, travel abroad or who require foreign currency for other purposes.” Then the equilibrium price of this market, somewhat different from the price of malanga or yam, which establishes the exchange rate between the different currencies and the national currency, depends, as in any market, on the position of supply and demand for foreign currency. And it’s not necessary for it to have any “physical space.” To associate the market with a spatial and even temporary reference is to trivialize something that operates so that millions of decisions by economic agents, expressed in terms of supply and demand for all products and services, reach a simultaneous balance that leaves everyone in a better position. It’s not a physical space, it’s something else. If a caveat is allowed to be introduced from the first moment, the informative note says that “the foreign exchange market is the space where foreign currency is bought and sold, which allows the national currency and foreign currencies to be connected” and well, here the first “technical” error occurs when affirming that the market is a space. And to curb these fears, the Ministry of Economy and Planning has decided to publish on its website a note that it says is “explanatory” but that confirms how clueless the leaders of the Cuban economy are on all these issues. With the dollar in the informal market above 130 pesos and rising, Cubans see with concern how access to the currency that allows the purchase of basic necessities and services, which are not accessible in national currency, becomes increasingly complicated. HAVANA TIMES – It’s difficult to answer this question. For more information, and to monitor for any changes please see the FCO website: Money - Cuba travel advice - GOV.UK (spend inordinate amounts of their time waiting in lines, while supplies run out before their turn comes. This information is for guidance purposes only and is subject to change. You should change your currency into euros before entering Cuba, ensuring that you have enough cash with you for your stay. You can change Sterling, English though as Scottish, Welsh and Northern Irish Sterling will not be accepted. If you must change any money locally, you should only use official local exchange bureaus called Cadeca exchange houses, local banks, and international hotels, do not change money with local people who may claim to offer exchange facilities at better rates or without queuing. If you do manage to withdraw cash, it will be in the Cuban Peso, so it’s important to bring enough cash with you for your stay. You should check with your bank if your credit or debit card is accepted in Cuba before you travel.Ĭash machines are not only few and far between but are also empty most of the time. Unfortunately, card payments are not currently being accepted in most restaurants, and bars most international hotels however, will accept cards as long as they haven’t been issued by an American bank. S dollar and while some restaurants and taxis will take the dollar, and even sometimes ask if you have them, Cuban banks have stopped accepting cash deposits in US dollars, so we don’t recommend it. We recommend small denominations as tips do go a long way in Cuba you will probably get Cuban Pesos in your change, so please bear this in mind and use these in Cuba, as you can’t change them back. Many restaurants and bars have started to price up in Euros some taxis have also started to accept the Euro. Inflation is currently very high in Cuba, so we recommend bringing over Euros in cash as this offers much better value for money locally. This is a closed currency it can only be obtained and used in Cuba, making it worthless outside of Cuba. ![]() The Cuban National Peso (CUC$) is the national currency.
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