Overview
Inside US Trade quoted Meredith Rathbone in an article titled “Cuba Announces Exchange Rate Shift, But Experts Say More Changes Needed.” The article, published April 1, discusses the exchange rate policy change that could encourage more US companies to do business in Cuba. According to the article, the Cuban government’s pledge to remove the 10 percent processing fee on exchanging US dollars into pesos dovetails with two key regulatory changes that were among those the United States announced on March 15.
Ms. Rathbone argues that these two changes were the most significant among the new round of Cuba sanctions relaxations rolled out by the US on March 15. She notes that because virtually every international currency transaction involving US dollars passes through US banks, these changes will greatly ease payments for companies conducting business in Cuba.
The full article can be read at Inside US Trade (subscription required).
