Saturday, December 21, 2013

Cuba will eliminate the convertible peso, which used to be pegged to the U.S. dollar.

Convertible Peso, CUC.

GOOD RIDDANCE! It was a huge scam, reminiscent of a capitalist con job!

Andrea Rodriguez is reporting from Havana the following:

Cuba will eliminate the convertible peso. 

"On Friday, Vice-President Marino Murillo told parliament that the peso pegged to the dollar, known as the CUC [convertible unit of currency] would eventually disappear, the first time that the government has explicitly said that."

He did not said when the change would go into effect.  

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