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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved