The official purchase of foreign currency at a more stimulating exchange rate will begin on Thursday, August 4 in Cuba, reported this Thursday Alejandro Gil Fernández, deputy prime minister and head of the Ministry of Economy and Planning (MEP) on the television program Mesa Redonda. .

 The minister argued that as part of the reestablishment of a foreign exchange market in the country, it has been decided to start by buying all currencies, including the dollar in cash, at an exchange rate higher than the current one.

 He also assured that the sale of foreign currency will also be implemented, which will not be immediately, for now it will be the purchase at a higher exchange rate that encourages the sale of these currencies to the State.

 He pointed out that one of the benefits of the measure is the legality of going to a market in which both the population and tourists can sell to the State, including the US dollar in cash.

 For her part, Marta Sabina Wilson González, minister president of the Central Bank of Cuba, explained that as part of this process, decrees 17 and 37 of 2021 and 62/2022 were repealed, since they established a single exchange rate for operate in the economy and a new one is established, 63/2022, so that different types of changes can be implemented.

 She added that as part of that process resolutions 126 were approved, which establishes that the Central Bank of Cuba can modify that exchange rate and 127, which establishes the foreign exchange market and the purchase of foreign currency as a first step.

The directive specified that the entities of Banco Popular de Ahorro, Banco de Crédito y Comercio, Banco Metropolitano and Banco Financiero Internacional will announce through their official profiles on social networks the branches that will provide this service and, in the case of the Cadeca, they will be in the airports, hotels and tourist centers.

 She commented that they are already working on making changes to the ATM systems, in the point of sale terminal and electronic platforms to make it possible, in the short future, to make sales through these mechanisms.