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Cuba: The final price of the dollar today June 23 from USD to CUP

On the last day of the American dollars paid closing 25 Cuban Pesos at the official exchange ratewhich gave an increase of 4.29% compared to the price of the previous session, when it was quoted at 23.97 Cuban pesos at the official exchange rate.

For the last seven days, the American dollars brand of although, conversely, in year – on – year terms there is still an increase 4.25%. For the past few days, three days of a fair trend have ended. The volatility referring to last week was significantly higher than accumulated over the past year, presenting itself as an asset with more variations than expected.

In the annual photo, the American dollars It was exchanged at a maximum of 25 Cuban pesos at the official exchange rate, and the lowest level was 23.80 Cuban pesos at the official exchange rate.

Cuban currency

The Cuban Peso is the currency legal tender in Cuba and is used by the majority of the population which is divided into 100 units called cents.

As of January 1, 2021, the Cuban convertible peso as legal tender, since it was the most widely accepted in the payment of obligations and although it still has legal value, it is not found in the payment of products and services.

In 2002, the exchange rate was 21 Cuban Pesos per convertible Peso, but it subsequently devalued to 26 Cuban Pesos per convertible Peso. For the dollar, it is equivalent to 25 Cuban pesos and one convertible Cuban Peso.

It was not until April 2005 when the government agreed to the devaluation of the Cuban Peso for the convertible while converting to 25 Cuban pesos per convertible Peso and the latter remained at 1: 1 parity for the dollar plus 10 per cent tax, and with this it is necessary to convert 12 % for each dollar. its value.

It was like that until January 1, 2021 when “Zero Day” was agreed. For monetary agreement, while the expiration of the convertible Peso was considered a devaluation, for others it was just a measure to catch up with the 24 Cuban pesos per dollar.

As a result, foreign currency demand stimulated a black exchange market in which one dollar per 100 convertible Cuban pesos was sold.

There are currently 1, 2, 5 and 20 cent coins and 1, 3 and 5 pesos; and bills contain 1, 3, 5, 10, 20, 50, 100, 200, 500 and 1000 pesos.

Economically, the coronavirus pandemic It has hit the nation as well as many others around the world, so the government expects this country by 2022 to grow into a Gross Domestic Product of just 4 percent, after a 11% drop registered in 2020 and in 2021 it. could not be fully recovered, as estimated at 2 percent.

It should be noted that Cuba is not part of international organizations such as the World Bank or the International Monetary Fund (IMF), so estimates of economic growth are made by the State itself.

Other factors such as inflation and the devaluation of the Peso came up after the unification of its national currency. In addition there is the non – payment to international creditors and the pressure from the Conradh na Gaeilge government USA with the economic blockade According to the Cuban government, these measures have resulted in a loss of $ 9.15 million.

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