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The Cuban peso (in Spanish peso cubano, ISO 4217 code: CUP) also known as moneda nacional, is the official currency of Cuba.. The Cuban peso historically circulated at par with the Spanish-American silver dollar from the 16th to 19th centuries, and then at par with the U.S. dollar from 1881 to 1959.
In 1981–1989, Cuba used so-called INTUR coins and cheques. Convertible foreign currency was exchanged into these cheques rather than the national currency, which could be used to buy some luxury goods not available for purchase in the national currency. Also, from 1985, Banco Nacional de Cuba issued foreign exchange certificates of various types.
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]
Converting those Cuban pesos to other currencies poses yet another challenge, as there are several, highly fluctuating exchange rates in the island. Long lines form and frustration grows as Cuba ...
Currency exchange offices in urban centers — particularly in financial hubs like New York City, Chicago or Los Angeles — often provide better rates than airport or tourist-focused exchange ...
(Bloomberg Opinion) -- Cuba wants you. Really. In July the government waived health restrictions for incoming visitors, becoming one of the few countries to do so. No doctor’s affidavits, no lab ...
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 ...
Cuba: Cuban peso: CUP Central Bank of Cuba: 24.00 CUP = 1.00 USD Sint Maarten: Netherlands Antillean guilder [1] ANG Central Bank of Curaçao and Sint Maarten: 1.79 ANG = 1.00 USD Curaçao Dominican Republic: Dominican peso: DOP Banco Central de la República Dominicana: float Guadeloupe: Euro: EUR European Central Bank: float Martinique Saint ...