Cuban Convertible Peso

(redirected from Chavito)

Cuban Convertible Peso

One of two currencies in Cuba. It is pegged to the U.S. dollar at a one-to-one ratio, meaning that one could present one convertible peso to the Central Bank of Cuba and redeem it for one dollar. Because the other currency in Cuba, the Cuban peso, is an inconvertible currency, the convertible peso is Cuba's only point of access to international foreign exchange markets.
References in periodicals archive ?
Bolivar Wedge, $118 and Chavito Chukka Suede, $124; www.
Until April 2005, the so-called chavito had been on par with the dollar.
The people who inhabit the novel are bizarre and puzzling, yet slightly (or very) comical: the distinguished-looking, but crazy Barefoot Countess; the bookish school rearm, Miss Berta, who interrupts her pious reading to pick her nose; Berta's ninety-year-old mother, Juana, who was supposed to die decades ago but goes on living as though old age were a role she deliberately plays; Casta Diva, the would-be singer and her mute husband; the widow Irene, whose passion for her gay son crowds out the memory of her dead husband; Chavito, the sculptor, whose statues fill the Island; Helena, the manager, who knows more about the Island than anyone; and "Professor" Kingston, the Jamaican English teacher.