Cuban Peso


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Related to Cuban Peso: Cuban convertible peso

Cuban Peso

One of two official currencies in Cuba. The other is the convertible peso. The Cuban peso has no official value outside of Cuba. To convert pesos, one must first convert them to convertible pesos, which are then exchangeable for other currencies. Most workers receive portions of their salaries in both currencies. They buy basic items like food with Cuban pesos, and use convertible pesos for luxury goods.
References in periodicals archive ?
However, the new value of the Cuban peso never reached the accounting and exchange operations of the business sector.
Previously, a citizen could receive only up to 80,000 Cuban pesos (about $3,300) in subsidies for building a 25-square-meter house, and the money could only be used to pay construction materials and labor.
If government workers who now earn 450 Cuban pesos a month, or nearly $20 monthly, instead were to earn the equivalent of $45 per month, where will that extra cash come from?
The credit lines are estimated at tens of millions of Cuban pesos.
The men were carrying four AK-47 assault rifles, an M-3 rifle, three Makarov pistols, night-vision goggles, US$3,038, and 970 Cuban pesos.
Managers at hotels, restaurants and other service facilities will contract directly fresh produce, and also vegetable charcoal from the cooperatives; the currency to be used is Cuban pesos.
Cuban prosecutors said the two Miami residents were caught after landing on a Cuban beach with arms and counterfeit Cuban pesos.
It also directs provinces to authorize the creation of farmers markets, other retail outlets and vendor routes for food products to be sold in non-convertible Cuban pesos.
The government has fixed ticket prices at five Cuban pesos, equal to 22 cents US.
Items can be bought in euros and dollars, but not in Cuban pesos.
Minister of Construction Fidel Figueroa said that to build one km of highway costs 1 million Cuban pesos, a cost he said could increase due to the skyrocketing price of oil.
A new photovoltaic solar park, which cost four million Cuban pesos, recently began operating Cantarrana, in Cienfuegos province.