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The Cuban convertible peso or "chavitos" are equivalent to one US dollar. However the "convertible" description of the new currency is questioned since it's only accepted in Cuba although it ...

First, the communist government is losing control of the country—which is not to say the regime is about to fall. “All of us ...

and the Convertible Cuban Peso (CUC) are both legal tender on the island, though neither are convertible in the foreign exchange markets. CUC is pegged to the dollar and most goods are valued in that ...

Since the outbreak of the largest protests seen in nearly three decades, the Cuban government has tightened its grip on the ...

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

Cuban Prime Minister Manuel Marrero said the government will embrace a “partial” dollarization of the economy as it struggles ...

Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his ...

The growth of Cuba’s emerging private sector will likely halt if the government enacts new measures announced by the country’s prime minister during a National Assembly address in which he blamed the ...

The Cuban government admitted it will have to amend several laws and decrees before implementing a plan of updating the Socialist economic model, the official Granma daily reported this week.

the price of chicken parts sold by private businesses to consumers cannot exceed 680 Cuban pesos per kilogram starting immediately. Current wholesale prices on the island are over 700 pesos ...

Currently, tourists must purchase prepaid cards in a local virtual currency, the MLC ... state enterprises to use only the local Cuban peso for transactions with some exceptions, including ...