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.
References in periodicals archive ?
These services cost about 10 CUC (Cuban convertible pesos) per month or US$12, half the average Cuban monthly salary, but are a way to ensure that adolescents are trained in basic subjects like spelling and are prepared to face the college entrance exams.
I exchanged my Euros to Cuban Convertible Pesos at the airport at a total loss of about 15 percent over the value of my dollars in the US.
"We are told five Cuban convertible pesos (about U$5.40) can get one an x-ray." Although the practice was reportedly discontinued, some HIV-positive patients had the letters "SIDA" (AIDS) stamped on their national ID cards, making it hard for them to find good jobs or pursue university studies, according to the cable;
A quick search in August turned up a classic '57 Chevy Bel Air "todo original" and a '53 Ford Victoria with an asking price of 9,000 Cuban convertible pesos, or about $9,700.
Legal access to hard, foreign currency as well as to Cuban convertible pesos is however still difficult and restricted to those Cubans who work in the tourist industry or are self-employed.
Treasury Department's Office of Foreign Assets Control to begin paying out money transfers in local Cuban convertible pesos (CUCs).
or Canadian dollars, euros, British pounds and Swiss francs--though all prices are set in Cuban convertible pesos, pegged at US$1.08.
CUBAN WHEELS: 1950s cars in old town Havana' FUNNY MONEY: Cuban Convertible Pesos
Cuba's Central Bank has inaugurated an exchange bureau in Old Havana where tourists will be able to buy Cuban convertible pesos using Japanese yen, Venezuelan bolivares, Mexican pesos, as well as international currencies such as euros, British pounds, Swiss francs and U.S.