Posted by & filed under Governments & Regulators.

Description: The system of duel currency creates two levels of wage earners in Cuba. The government announced that they want to end the practice and create a currency that is more valuable.

Source: CNNMoney.com – video report

Date: Oct 31, 2013

Link: http://money.cnn.com/video/news/2013/10/31/n-cuba-dual-currency-reform.cnnmoney/index.html

Questions for Discussions:

  • Explain how Cuba’s economy functions with two currencies?
  • Why do neither currency have any exchange value outside Cuba?
  • Why do you suppose the government introduced the “tourist-currency” in the first place?
  • Why do you think they are now moving to only one currency for the country?

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