On August 23, the Cuban government announced on the 22nd that it will provide services for the exchange of foreign currencies such as U.S. dollars to Cuban pesos to a limited extent. This means that Cuba has reopened its foreign exchange sales business after a two-year hiatus.
Cuban Economy Minister Alejandro Hill announced on state television that day: “We will gradually take measures … to give the currency more purchasing power.” According to him, opening up the sale of dollars and euros is aimed at curbing black market foreign exchange transactions.
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