Cuban regime removes the dollar from circulation: no more bank deposits in that currency will be accepted

MIAMI, United States. ─ The Cuban regime will temporarily suspend the acceptance of bank deposits in cash of United States dollars, according to a statement from the Central Bank of Cuba (BCC) released in the space Round table.

The measure, which will come into effect on June 21, responds “to the obstacles imposed by the economic blockade of the United States so that the national banking system can deposit abroad the cash in US dollars that is collected in the country.”

As of that date – the note adds – “natural and legal persons, both Cuban and foreign, will not be able to make deposits or any other transaction in US dollars in cash in these institutions.

The temporary suspension will not be effective for “operations carried out by transfers or cash deposits of other freely convertible currencies accepted in Cuba, which may continue to be carried out without any limitation.”

“Deposits in US dollars owned by natural and legal persons are not affected at all by this measure,” the statement said.

The note from the Central Bank of Cuba also informs that it is “a protection measure for the Cuban banking and financial system, which applies only to the US currency in cash, not to existing accounts in that currency. ”.

“There is no way to avoid taking it, and it is a measure motivated by the economic blockade of the United States. Our people and the international community know that the purpose of the blockade is to cause damage to the Cuban economy, to suffocate it. To that end, it seeks to depress the income and standard of living of the population, ”said Carlos Fernández de Cossío, director general of the United States of the Ministry of Foreign Affairs of Cuba (MINREX), during his speech at the Round table from today.

The island’s authorities specified that the duration of the suspension “will depend on the elimination of the restrictions that prevent the normal functioning of the export procedures of the US currency.”

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