Cuba runs two currencies in parallel: The CUP, which is the peso that ordinary Cubans use, and the
convertible peso, or CUC, used by foreign visitors, which is worth roughly $1.
DESTINATION santa clara Currency: Cuban
convertible peso (CUC) - PS1 = 1.
the Cuban peso, or CUP, and the
convertible peso, or CUC), and the creation of wholesale markets where nonstate producers (e.
TOP TIP Cuba has two currencies - the
convertible peso (CUC) and the Cuban peso (CUP).
So for the moment there is the
convertible peso (CUC) and the Cuban peso (CUP).
Cuban Central Bank officials have told foreign businesses that devaluation of the
convertible peso will progress gradually.
Currencies highlighted by this initiative are the Cuban
Convertible Peso or CUC and the Cuban Peso or CUP (national currency) whose exchange rate varies from 1 CUC to 24 CUP for the population and 1 to 1 in the entrepreneurial sector.
On the island, the vast majority of goods are available only with the hard currency
convertible peso, or CUC.
The more valuable
convertible peso (CUC) was reserved for use in the tourism sector and foreign trade.
In 2004 the Cuban
Convertible Peso (CUC) was introduced.
Moreover, in 2005, the Cuban government revalued the Cuban
convertible peso (CUC) from being on par with the U.
One is the dual currency system: tourists use a
convertible peso worth nearly 25 times more than the nonconvertible peso for native Cubans.