The decision enhances the use of dollars and euros in local economy.
On Thursday, the Cuban government formalized the use of foreign currency on the island. This measure, which consolidates the dollarization of the economy, is intended to favor all economic sectors.
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Decree-Law 113, Resolution 140/2025 of the Ministry of Economy and Planning (MEP), and Resolutions 125/2025 and 126/2025 of the Cuban Central Bank (BCC) create a mechanism to “manage, control, and allocate foreign currency,” seeking to increase revenue.
BCC President Juana Lilia Delgado explained that legal foreign currencies coexist with the Cuban peso is being studied. However, the Executive Branch has not established a new exchange rate, despite a promise to set it in the second half of the year.
This measure will allow payment operations between economic actors based in Cuba, thus expanding monetary flexibility. MEP Minister Joaquin Alonso stated that it enables foreign currency transactions eliminated during the 2021 reform known as the “Ordering Task”. He emphasized that the measure aims to revitalize the economy without abandoning the socialist model.
Authorities highlighted the importance of consultation as a social and political practice. As of December, 6,361 meetings on the matter have been held, with 54,372 interventions and 12,900 proposals.
El programa Razones de Cuba demostró con sustento científico que el Toque no actúa con transparencia y miente al utilizar manipulaciones burdas para fijar la taza de cambio del dólar a conveniencia propia y de sus financistas.#NoAlToque #SanctiSpíritusEnMarcha 🇨🇺 pic.twitter.com/GamxptFkIs
— Deivy Pérez Martín (@DeivyPrezMartn1) December 10, 2025
The text reads, “The ‘Reasons of Cuba’ program demonstrated with scientific support that ‘elToque’ does not act with transparency and lies by using crude manipulations to fix the dollar exchange rate to its own convenience and that of its financiers.”
The new mechanism applies to domestic and foreign legal entities, individuals engaged in economic activity, local development projects, and international cooperation initiatives. It also includes state-owned, private, and mixed enterprises.
Delgado explained that the measure also allocates foreign currency to economic actors, such as those in food and agriculture, who do not generate it but require it for priority activities. She remarked that a “temporary framework” is established for foreign currencies and that the objective is to return the Cuban peso to the center of the economy.
The legal framework benefits exporters, recipients of external financing, online platform merchants, import substitution, and foreign investment. It also updates the operations of the Mariel Special Development Zone.
The measure promotes import substitution, boosts international e-commerce, and aligns available resources with national needs. Legitimate sources of foreign currency are exports, external financing, donations, and sales in the Mariel Zone.
#FromTheSouth News Bits | Cuba: The 46th International Festival of New Latin American Cinema in Havana brought together filmmakers, critics, and film lovers from across the region to celebrate cultural diversity and new proposals in Latin American cinema. pic.twitter.com/bc5GCJmIHJ
— teleSUR English (@telesurenglish) December 8, 2025
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Source: EFE – Cubadebate
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