Cuba is a land of two currencies. The Cuban peso for everyday use and the the convertible peso that can be exchanged for foreign currency. But those days are soon to come to an end as Havana seeks to phase out the CUC.
Signs are growing in Cuba that currency reform, mooted for years, could be imminent and one of the two currencies circulating on the island will be abolished. One global hard currency has long dominated everyday life.
From disbelief to outrage: In Cuba, special stores can offer goods for sale in a currency other than the Cuban peso. That's a new low for the economic reality of the island, says Yoani Sanchez.
Cuba seems to have the pandemic under control, but its already dismal economy is set to weaken further. Supply shortages are becoming more acute; plummeting foreign remittances and a lack of tourism aren't helping.
President Mauricio Macri's government has imposed foreign-exchange controls on Argentine exporters. A week of financial uncertainty has led to a sharp drop in the value of the peso.
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