dollar
Havana (AFP) - Cuba's government on Monday announced a surprise lifting of its ban on US dollar deposits in banks, reversing a policy which had been in place across the communist island nation since June 2021. "From this moment on, financial and banking institutions will accept cash deposits of US dollars in bank accounts," said a Central Bank of Cuba (BCC) resolution published Monday in the country's Official Gazette. The Cuban government had announced the ban almost two years ago, saying at the time that the move was due to continuing difficulties caused by the ongoing US embargo. The policy...
AFP
New York (AFP) - US President Joe Biden has ordered the federal government to look into creating a digital dollar, a move with the potential to reshape how money is moved and used around the world. Before his order results in a virtual greenback, there will be numerous major impacts -- and risks -- to consider first. Here are some key questions: What form would a digital dollar take?It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins used now, but in a digital form that is accessible to everyone, not just financial institutions. Unlike money de...
AFP
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