Cuba Moving to End Dual Currency System

Tourists get more valuable pesos in a system set up in 1994


Cuba—the only country in the world to mint two currencies—is trying to find a way to do away with the bizarre system that even President Raúl Castro acknowledges is hamstringing the island's socialist economy and must be scrapped.

Months after Castro made currency unification a centerpiece of a forceful address to parliament, no details have been made public. But a pilot program operating under the radar might hold clues to a way out.