Central Bank Announces New 10,000- and 20,000-Peso banknotes
As part of measures aimed at facilitating banking operations and adjusting cash denominations to current economic conditions, President of the Central Bank of Cuba (BCC) Juana Lilia Delgado Portal announced that 10,000- and 20,000-Cuban-peso banknotes will begin circulating nationwide on September 16.
The new denominations will join the existing banknote series, alongside the 2,000- and 5,000-peso notes already in circulation.
The 10,000-peso banknote features the image of Haydée Santamaría, while the 20,000-peso note bears the image of Vilma Espín.
“With the introduction of these new 10,000- and 20,000-Cuban-peso banknotes, we are completing the changes previously announced for our currency series,” Delgado Portal explained.
She noted that the update is intended to bring existing denominations in line with the current economic environment, particularly prevailing price conditions and the needs of cash circulation.
A More Modern Banking System Closer to Its Customers
The Central Bank president outlined the broader objective of the sector's transformation: to move toward a banking and financial system that is secure, modern, agile and efficient, capable of contributing to economic recovery while responding more quickly and effectively to the needs of its customers.
Delgado Portal acknowledged that this is a far-reaching process that will require banking employees to adapt rapidly, as well as a gradual transformation of current operating practices.
“Banks are called upon to be companions to our customers, supporting their aspirations and responding to their needs,” she stated.
The BCC president also underscored the important role played by banking-sector workers, commending them for continuing to serve the public despite the difficulties currently facing the country's banking system.
The package of measures presented on Tuesday during the Mesa Redonda television programme is part of a gradual process aimed at transforming the structure and operation of Cuba's banking system, expanding its capabilities, incorporating new players and technologies, diversifying financial services, and strengthening its connection with the needs of the economy and the population.
(Cubadebate-EmbaCuba Bahamas)