Radio Cadena Agramonte emisiora de Camagüey
Havana, December 19.- The exchange rate issued by the Central Bank of Cuba (BCC) is drawing significant attention in Cuba today and contributes a small step toward economic recovery.
Media outlets such as Cubadebate reflected on this financial event this Friday, providing details on how to understand such a proposal.
The publication reiterates the recent special appearance by the Minister President of the Central Bank of Cuba, Juana Lilia Delgado Portal, on the same day the measure took effect, December 18.
They indicate that the BCC has worked on creating the conditions to initiate transformations in the foreign exchange market, based on principles of graduality and temporality.
Currently, different exchange rates for foreign currencies coexist in the Cuban economy, which generates distortions, incentivizes informality, and complicates the banking and fiscal traceability of economic activities.
This exchange rate transformation aims to restore the convertibility of the Cuban peso, strengthen monetary institutions, and advance 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 adjusted to current conditions.
They emphasize that an immediate unification of the exchange rate, without a transitional stage, could provoke a sharp devaluation, with inflationary effects greater than the current ones and a deepening of the loss of purchasing power of the national currency against foreign currencies.
Considering the elements presented, it was decided to put into effect, on December 18, 2025, measures that guarantee the transformation of the foreign exchange market.
In this first stage, its structure has been conceived in three exchange segments: two fixed exchange rates—already existing—Segment I operating at 1 to 24, Segment II operating at 1 to 120, and a third segment with a floating exchange rate that will be published daily by the Central Bank.
The decision to recognize a third segment is based on the objective existence of differences between the official exchange rates and the real value reflecting the scarcity of foreign currency.
Among the measures to be implemented, the stabilization and progressive strengthening of the so-called MLC (freely convertible currency) accounts stand out, contrary to what some falsely speculate.
They conclude that the legal provisions implementing the transformations of the foreign exchange market are published in the Official Gazette and took effect on December 18, 2025. Moving forward, the Central Bank of Cuba will publish the daily exchange rates on its website. (PL) (Photo: Taken from the Internet)
