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In 1994 the Cuban convertible peso (CUC) was introduced at par with the US dollar and circulated alongside it. Partial revival of economic confidence then stabilized the Cuban peso to 23-25 CUPs to the CUC or USD, leading to the eventual fixing of exchange rates to US$1 = CUC 1 = CUP 25, which was available to the public from 2004-2005 and then ...
On 8 November 2004, the U.S. dollar ceased to be accepted in Cuban retail outlets and left the convertible peso as the only currency in circulation in many Cuban businesses. Officially exchangeable only within the country, its value was increased to US$1.08 in April 2005, but reverted to US$1.00 on 15 March 2011. [ 1 ]
Cuba legalized the use of the US dollar and created a dual currency system, one based on the dollar and the Cuban convertible peso with the other system based on the Cuban peso. Different institutions and businesses operated on only one side of the currency divide. The Cuban peso, used mostly by Cuban nationals, could not buy imported goods. [1]
Moreover, by September 1995, it was possible to deposit hard currency with interest in the Cuban National Bank, by October of that same year, the government had created Foreign Currency Exchange houses (Casas de Cambio, CADECA) with 23 branches throughout the island [19] where Cubans could exchange USD for pesos at a rate similar to that of the ...
Dominican peso $ DOP Centavo: 100 East Timor: United States dollar $ USD Centavo: 100 Ecuador: United States dollar $ USD Centavo: 100 Egypt: Egyptian pound: LE EGP Piastre [B] 100 El Salvador: United States dollar $ USD Cent: 100 Bitcoin [5] ₿ (none) Satoshi: 100000000 Equatorial Guinea: Central African CFA franc: F.CFA XAF Centime: 100 ...
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It has been changed here by the relation: 1 USD = 24400 Belarusian rubles. The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate ...
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