Eliminating monetary duality in Cuba

  1. Alvaro González Lorente
  2. Montserrat Hernández López
  3. Francisco Javier Martín Álvarez
  4. Javier Mendoza Jiménez
Journal:
Estudios de economía aplicada

ISSN: 1133-3197

Year of publication: 2020

Volume: 38

Issue: 1

Pages: 12

Type: Article

Export: RIS
DOI: 10.25115/eae.v38i1.2856 DIALNET GOOGLE SCHOLAR

Metrics

SCImago Journal Rank

  • Year 2020
  • SJR Journal Impact: 0.123
  • Best Quartile: Q4
  • Area: Economics and Econometrics Quartile: Q4 Rank in area: 616/676

Índice Dialnet de Revistas

  • Year 2020
  • Journal Impact: 0.367
  • Field: ECONOMÍA Quartile: C2 Rank in field: 38/160

CIRC

  • Social Sciences: B

CiteScore

  • Year 2020
  • CiteScore of the Journal : 0.6
  • Area: Economics and Econometrics Percentile: 19

Journal Citation Indicator (JCI)

  • Year 2020
  • Journal Citation Indicator (JCI): 0.1
  • Best Quartile: Q4
  • Area: ECONOMICS Quartile: Q4 Rank in area: 512/555

Abstract

Since monetary duality was adopted in Cuba in August 1994, two currencies have coexisted on the Island: the Cuban convertible peso (CUC) and the Cuban national peso (CUP). There is a double fixed exchange rate between the CUC and CUP and between the CUC and the US dollar (USD). In reality, there is also a fixed exchange rate between CUP and USD, consequently, monetary unification seems necessary. The problem lies in setting the exchange rate of the currency that will survive (CUP) versus the eliminated one (CUC). In this article, a review of the most interesting aspects of this situation is conducted, and arguments are put forward as to what would be the most appropriate exchange rate between the Cuban national currency and the Cuban convertible peso.

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