Central Bank Suspends Dollar Deposits, Cites US Economic War – Real Pundit

On Thursday the Central Bank of Cuba (BCC) announced that the state has managed to suspend all U.S. dollar deposits due to America’s so -called “economic blockade” of the country’s banking system.

“Given the barriers imposed by the U.S. economic blockade for the Cuban banking system to deposit overseas dollar money collected by the U.S. in the country, the decision was made by temporarily stop accepting payments of that money in the Cuban banking and financial system, ”The national media told the bank.

The decision will take effect starting June 21, and so far it shows no indefinite date for the strict measures to be issued.

U.S. punitive measures continue to weaken the Cuban peso creating a distortion between the public and black market prices later on, varying It hit state employees who are paid the most in national currency.

“This is because the U.S. dollar on the Cuban black market has soared in recent months to about 70 Cuban pesos, triples the official exchange rate of 24 pesos, ” The Miami Herald reports.- READ MORE

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