Cuba’s Central Bank Suspends Deposits in US Dollars | WHAT REALLY HAPPENED

Cuba’s Central Bank Suspends Deposits in US Dollars

Cuban banking and financial institutions will not accept cash deposits in US dollars from 21 June due to US sanctions, the Central Bank of Cuba (BCC) said.

"Given the obstacles imposed by the US economic blockade for the Cuban banking system to depositing abroad cash in US dollars collected in the country, the decision has been made to temporarily stop the acceptance of bills in that currency by the Cuban banking and finance system", the BCC said on Thursday, as quoted by the state Mesa Redonda news outlet.

According to the statement, the measure will not affect operations involving transfers or cash deposits of other freely convertible currencies accepted in Cuba. The BCC explained that the decision is a protective measure for the Cuban banking and financial system due to restrictions imposed by the economic, commercial, and financial blockade on part of the US.

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