The Central Bank of Cuba (BCC) released its exchange rates for the main international currencies used by the financial institution on Thursday. The dollar remained stable despite the energy embargo imposed by the Donald Trump administration.
In the BCC’s third exchange rate segment, the US dollar remained at 480 CUP per unit. While the Euro rose to 555.60. However, the British Pound surpassed it, becoming the most expensive currency on the official exchange market at 641.98 CUP.
Following the British Pound were the Chinese Yuan at 69.65 CUP. The Mexican Peso at 27.06 CUP, the Russian Ruble at 5.93 CUP. The Japanese Yen at 0.33 CUP, and the Canadian Dollar at 347.49 CUP.
It was also learned that the Cuban government has authorized a Spanish company to offer money transfer services to the island. According to a resolution published in Extraordinary Official Gazette No. 48 of 2026.
The measure, issued by the Central Bank of Cuba, grants a license to BAGALSO INTERNACIONAL, S.L. to operate in the country. In activities related to sending remittances and other financial transfers from abroad.
According to the regulations, the company may channel funds to beneficiaries in Cuba through various means. Including deposits into bank accounts, the use of debit or prepaid cards, and direct cash delivery. In both Cuban pesos and foreign currency.
Also the authorization also allows the company to manage digital platforms for its operations and issue transaction receipts. In an effort to expand the options available for sending money to the island.
The Central Bank indicated that the entity meets the requirements established by current legislation. Including the submission of a business plan, feasibility studies, and mechanisms to prevent money laundering and the financing of terrorism.
According to various Spanish media outlets, the company, based in Lugo, was established less than a year ago. And its sole administrator is Eduardo Valín Fernández, who has ties to the Lugo business community. Its legal representative is Sonnia Alejandra Núñez del Riego, who maintains business activities in Cuba.
However, the license includes specific conditions. Among them are the obligation to appoint a legal representative residing in Cuba. Guarantee transparency in fees and commissions, and maintain cybersecurity and data protection controls.
The decision comes in a context where the country seeks to diversify and facilitate channels for the inflow of foreign currency. Amidst a prolonged economic crisis and external financial restrictions. Also where remittances continue to be one of the main sources of income for the population.
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