US Edition
Cuba to Introduce Two New Banknotes Honoring Women to Ease Inflation as Crises Persist
- Cuba will issue new 2,000 and 5,000 peso banknotes to help address inflation and reduce the burden of carrying large amounts of cash.
- These new banknotes will be the first Cuban paper currency to feature women, Mariana Grajales and Celia Sánchez, important figures in Cuban history.
- Previously, the highest denomination was 1,000 pesos, which became inconvenient due to inflation causing people to carry many smaller bills.
- Cuba is experiencing a severe economic crisis due to the COVID-19 pandemic, 2021 financial reforms, and increased U.S. sanctions, with inflation reaching 77% in 2021.
18 Articles
18 Articles
The Central Bank of Cuba (BCC) announced that two new notes of 2,000 and 5,000 Cuban pesos (CUP) – the official currency – will gradually come into circulation from April 1st to face the price increase due to high inflation.
The Central Bank of Cuba (BCC) announced on Tuesday that two new notes of 2,000 and 5,000 Cuban pesos (CUP) - the official currency - will gradually come into circulation as of April 1, to face the increase in prices due to high inflation and cash shortages.The issuance of the new high-denominational banknotes responds to the demand for high amounts of cash and seeks to reduce the costs for the logistics of cash and gain in operational agility a…
Cuba.- The Central Bank of Cuba will issue from tomorrow two more denominational banknotes to deal with the inflation that forces many Cubans to handle large amounts of paper currency. For the first time, they will also have the images of two women. The official portal Cubadebate released this morning the graph and the security measures that will have the notes of 2 thousand and 5 thousand Cuban pesos, equivalent to approximately 3.9 and 9.7 dol…
Associated Press News
Cuba to introduce two new banknotes honoring women to ease inflation as crises persist
Cubans accustomed to shopping with wads of bills stuffed into bags because of skyrocketing inflation will get some relief Wednesday when two new high-denomination banknotes go into circulation.
Cubans, who due to sudden inflation are used to going shopping with large amounts of cash in their bags, will find it easier to pay from tomorrow when they will be in circulation.
Directors of the Central Bank of Cuba (BCC) today assured that the gradual introduction of two new high-denominational banknotes seeks to reduce operating costs and improve agility in cash transactions, although digital payments will continue to be promoted.
Coverage Details
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
