These days, many Cubans have been interested in the announcement provided by banking sources to the state press about the issuance of more high-denomination banknotes in Cuba.
“I know that an issue of high denominations is ending, but they are the same as now. It will be in our hands by this September,” said the commercial manager of the Santa Fe branch of Banco Popular de Ahorro (BPA) to the Isla de la Juventud newspaper.
In this regard, the vice president of the Central Bank (BCC), Alberto Quiñones Betancourt, assured in an exclusive interview with Canal Caribe that “in Cuba they are not printing higher denomination bills than those in circulation today.”
This was revealed in a small note published by the journalist of the TV news system, Lázaro Manuel Alonso.
“The banking system operates and will operate in the short and medium term with banknotes of the same denominations. However, they study what is happening today with the demand for cash to, consequently, adopt the corresponding measures,” the reporter added in his profile From Facebook.
Some users asked if the executive who advanced the information about a new issue of high denominations in Cuba lied. Others questioned whether a measure like that had to be “studyed.”
SHORTAGE OF CASH AND HIGH DENOMINATION BANKNOTES IN CUBA
The Pinero manager had alleged that the deficit of high-denomination banknotes in Cuba is due to the fact that “the new economic actors handle amounts of cash and need it to buy from other economic actors.”
He explained that Cuban banks have specific requirements for withdrawing significant amounts and “this does not suit many new economic actors nor does it streamline their businesses.” That is why the reality is that “large denomination bills change hands among themselves, without returning to the Bank,” he stated.
In a Round Table last August, the minister president of the Central Bank of Cuba, Joaquín Alonso Vázquez, assured that if banking development goes well within the agreed time, “the currency used in the manufacture of physical currency can be used for other priorities in the country.”
