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    The sale of foreign currency to natural persons in Cuba begins

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    Comienza la venta de divisas a personas naturales en Cuba

    This August 23, the sale of foreign currency to natural persons begins, with a limit of 100 dollars ─or its equivalent in another currency─ and depending on what is purchased, they reported in a special appearance in the space of the Round Table Alejandro Gil Fernández , Minister of Economy, and Marta Sabina Wilson González, Minister President of the National Bank of Cuba.

    For this, 37 Exchange Houses (Cadeca) have been chosen throughout the country, mainly in the provincial capitals and in some municipalities, which will be the ones that will start in this first stage. Then the banks must be incorporated.

    Each morning the director of the entity must communicate the amount of foreign currency available for sale, emphasized Wilson González. To which he added that "in this month of August, 20 days have passed since the beginning of the purchase of foreign currency and 10 times more has been acquired than what would have been purchased in a month with an exchange rate of 1x24, which means that the measure stimulates people.

    The Minister President of the Central Bank of Cuba, Marta Sabina Wilson González, commercial margins vary in...

    In this way, the approved sales rate in the Financial System establishes that to buy a US dollar 123.60 pesos are needed, for a Canadian dollar 96.51 pesos, for the pound sterling 148.20 pesos, for a Mexican peso 6.20 pesos, and for the franc Swiss 130.64.

    The operations will be, first, in cash, because Cadeca has no way of connecting the operations with the bank accounts; while dollars continue to be unable to be deposited on cards, due to the restrictions of the economic, commercial and financial blockade.

    In addition, it will not be sold at airports to promote and facilitate more people accessing this foreign exchange market. To date, the currency that has been exchanged the most has been the euro and, therefore, when a currency is acquired with the aim of depositing it in a freely convertible account, the person must go to the bank to complete the operation.

    At the close of the appearance, the Minister of Economy, Alejandro Gil Fernández, recognized that increasing the purchasing power of the Cuban pesos.