Cuban Convertible Peso

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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.
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References in periodicals archive ?
Euphemistically called the "special period" by the government, the crisis caused the devaluation of the historical Cuban peso (CUP) and led to the emergence of the convertible peso (CUC) (NotiCen, May 5, 2005).
After More than Two Decades, Cuba May End Dual Currency System
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.
Cuba: End of an era?
DESTINATION santa clara Currency: Cuban convertible peso (CUC) - PS1 = 1.31CUC Time zone: GMT-5hrs The flight: Fly to Santa Clara from Manchester with one or two connections.
resting place of a revolutionary
TOP TIP Cuba has two currencies - the convertible peso (CUC) and the Cuban peso (CUP).
Cuba calling; There's more to Cuba than beaches, cigars, rum and rhythm - but that's all you need
Cuba has two currencies--the peso and the convertible peso. Both are legal on the island, though neither is exchangeable in foreign markets.
Cuba opportunities, pitfalls dominate MDA trade summit
So for the moment there is the convertible peso (CUC) and the Cuban peso (CUP).
Cuba: the queues and don'ts; Our man in Havana Max Levenson shares his top tips for a visit to the unique Caribbean hotspot
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.
Dual currency a challenged
On the island, the vast majority of goods are available only with the hard currency convertible peso, or CUC.
Cuba : CUBA decides to issue new banknotes with enhanced security measures
The more valuable convertible peso (CUC) was reserved for use in the tourism sector and foreign trade.
CUBA TO SCRAP TWO-CURRENCY SYSTEM IN LATEST REFORM
The problem of low wages in Cuba is closely related to another major economic challenge in Cuba: how to unify the two official currencies circulating in the country--the Cuban convertible peso (CUC) and the Cuban peso, which trade at about 24 to 1 CUC.
Cuba's political and economic situation
One is the dual currency system: tourists use a convertible peso worth nearly 25 times more than the nonconvertible peso for native Cubans.
Havana good time
TO THERE was a guest of Holidays (0871 thomson.co.uk), twin-centre on the resort of and Havana including return Thomson Airways Internal flights by One is the dual currency system: tourists use a convertible peso (introduced in 2005 to eradicate the US dollar) worth nearly 25 times more than the non-convertible peso for native Cubans.
Havana good time good time

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