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ALBA launches regional common currency
The Bolivarian Alliance for the Americas, ALBA, has launched an electronic currency for mutual trade payments – the sucre. One sucre was valued at $1.25. ALBA experts say the exchange rate reflects the euro-to-dollar ratio. Last April, the ALBA countries agreed to introduce a common currency in mutual settlements to boost regional trade and ease their dependence on the dollar. The ALBA comprises Bolivia, Venezuela, Cuba, Nicaragua, Ecuador, Honduras and the Caribbean states Antigua & Barbuda, Sent Vincent & the Grenadines, and the Dominican Republic.
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