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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: 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 ...
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.
The dollarization of Cuba refer to macroeconomic policies implemented with the aim at stabilising the Cuban economy after 1993. They were initially enacted to offset the economic imbalances which was a result of the dissolution of the Soviet Union in 1991. [ 1 ]
Tourism was regarded as the only stable sector of the Cuban economy and became the subject of policy changes to enhance its development. 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 ...
It was formed in 1965 by the merger of two previous papers, Revolución (from Spanish: "Revolution") and Hoy ("Today"). [1] Publication of the newspaper began in February 1966. [2] Its name comes from the yacht Granma that carried Fidel Castro and 81 other rebels to Cuba's shores in 1956, launching the Cuban Revolution. [3]
In Cuba between 1993 and 2004, a dollar store (Spanish: tienda de dólares), officially Tiendas de Recaudación de Divisas ("Foreign Currency Collection Shops") or Tiendas Recuperadoras de Divisas ("Foreign Currency Recovery Shops"), was a government-owned shop that sold goods solely in exchange for hard currency, originally mainly to foreigners and tourists, in the same way as a friendship ...
The economy of Cuba is a planned economy dominated by state-run enterprises. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution.