Cuban authorities legalized the use of the US dollar in the country’s trade turnover

The regulations include businesses and individuals, but exclude the self-employed or independent workers, and make repeated reference to the exchange rate but do not set a new one, despite the government’s promise to do so in the second half of 2025.

The regulations emphasize that the measures are “temporary” until “existing macroeconomic imbalances are resolved” and until “the Cuban peso can resume its role as the country’s sole legal tender under government control.”

The head of the Central Bank of Cuba (BCC), Juana Lilia Delgado, assured that “the possibility of circulating other legal currencies along with the Cuban peso is now being introduced, allowing them to be used for settlements and payments in foreign currency between economic entities residing in Cuba.”