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Cuban Peso
(redirected from Cuban currency)

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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.
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Under Resolution 65/2003, all Cuban state enterprises and all Cuban banks are required to convert foreign currency holdings to "convertible pesos"--the Cuban currency that is used interchangeably with the dollar in Cuba and that trades on a par with the dollar.
New foreign-exchange regs apply to banks, state entities. (Finance) by Peters, Philip / CubaNews
citizen coming into contact with a Cuban, due to the law's vague language and exceptionally broad reach; Restriction on photography: Photographing military or police installations or personnel, or harbor, rail and airport facilities is forbidden; Cuban currency regulations: Since the Cuban Government legalized the use of dollars in July 1993, U.
TRAVEL ADVISORY UPDATE by Caribbean Update
Pesos, the Cuban currency, are virtually worthless.
Island of contradictions: photos of life in Cuba today by Ricci, Jeanne / USA Today (Magazine)
 
 
 
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