Cuba has been long trying to limit the broader dollar circulation within the country. The country's government has even implemented some measures to achieve this aim. However, this move did not go unnoticed by the watchful eye of the US government. In a modern world where economies are interconnected both politically and economically, such actions always have a price.

In an attempt to limit the circulation of the dollar, the Cuban authorities have put a 10% levy on dollar exchange operations in all banks in the country. This measure was supposed to make the local currency more widespread and reduce the use of the greenback for both local citizens and tourists. However, despite the high commission, the government failed to take the shine off the US dollar for both local residents and travelers. Curiously enough, as it turns out, the Cuban politicians also favor the US dollar over the local currency. According to reports, the savings of Cuba’s officials held in foreign banks are denominated in dollars. With the coronavirus crisis on the doorway, the local authorities are becoming less hostile to the US currency. The country is also experiencing difficulties amid the virus and it is time to look at things more realistically. Alejandro Gil, Deputy Prime Minister and Economy and Planning Minister, recognized the significance of the US dollar in the local economy. For this reason, the country will eliminate the 10% levy on the US dollar.

Besides, the Cuban government has asked the UNO to lift sanctions against the country at least for the period of the coronavirus pandemic.