Cuban President Miguel Diaz-Canel said during a Sunday night televised speech in Havana that the island will end its decades-old dual currency system and start having a single unified exchange of 24 pesos per dollar from January 2021.
currency values
Venezuelan Regime Will Tax Hard-Currency Transactions
The Venezuelan regime announced on Thursday morning it will tax hard-currency transactions between clients of the same bank, representing an effort to boost tax revenue amid a broader economic liberalization.
Chinese Yuan Experiences Worst Decline Since 2018
The Chinese Yuan plunged as much as 1.4 percent against the US dollar on Wednesday morning as US President Donald Trump remained in contention with the Democratic nominee Joe Biden in the US presidential election.
Turkish Lira Drops to Eight Against U.S. Dollar
Turkish currency Lira dropped to a new record low of eight against the U.S. dollar last Oct. 26 amid growing tensions with North Atlantic Treaty Organization allies.
The Argentinean Government Will Maintain Currency Devaluation Rate
The Argentinean government announced on Friday morning it will maintain a slow rate of currency devaluation despite rising pressure on the national currency peso and tumbling foreign reserves.
Argentinean Authorities Crack Down on Currency Trafficking
The Argentinean National Police have been carrying out a series of raids in order to crack down on foreign currency trafficking, which comes at a moment when the nation looks to counter a FX crisis that has seen the black market dollar trade flourish over the last few months.