Media outlets such as Cubadebate are reporting on this financial development and reiterates the recent special appearance of the President of the Central Bank of Cuba, Juana Lilia Delgado Portal, on the same day the measure took effect, December 18.
They point out that the BCC has been working to create the conditions to begin transformations in the foreign exchange market, based on principles of gradualism and timeliness.
Currently, different exchange rates coexist in the Cuban economy, which generates distortions, encourages informality, and hinders the banking and tax traceability of economic activity.
This exchange rate transformation seeks to restore the convertibility of the Cuban peso, strengthen monetary institutions, and move in an orderly manner toward exchange rate and monetary convergence.
A foreign exchange market requires minimum conditions of macroeconomic stability, operational capacity of the banking system, and a regulatory framework adapted to current conditions.
They emphasize that an immediate unification of the exchange rate, without a transition period, could trigger a sharp devaluation, with inflationary effects greater than those currently seen and a further decline in the purchasing power of the national currency against foreign exchange.
Considering the factors outlined above, it was decided to implement, on December 18, 2025, the measures that guarantee the transformation of the foreign exchange market.
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