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The Cuban government has informed several foreign companies that they will be unable to repatriate the funds in their bank ...

The Cuban Convertible Peso, CUC, or “chavitos” as they are called ... role in order to maintain an appropriate balance between currency in circulation and the supply of goods and services ...

and the Convertible Cuban Peso (CUC) are both legal tender on the island, though neither are convertible in the foreign exchange markets. CUC is pegged to the dollar and most goods are valued in that ...

This includes eliminating the double currency system ... Cuba has two currencies: the Cuban convertible peso (CUC), equivalent to 1.08 U.S. dollars, and the national peso (CUP), valued only ...