It was introduced in 1993.
Cuban peso (CUP) and Convertible peso (CUC).
CUP (nonconvertible Cuban peso) and CUC (convertible Cuban peso)
You cannot buy either Cuban Peso or Cuban Convertible Pesos outside of Cuba. CUC (Cuban Convertible Peso) is for the tourists and you can only buy that in Cuba. You can buy at the airport or at your hotel. The Cuban Pesos is not sold to tourists... and avoid street exchanges!!
Cubans call their money pesos, but the tourist of Cuba uses the convertible peso. 1 convertible peso is the same as 25 Cuban pesos.
Cuba's official currency is the Cuban Peso. The Cuban Convertible Peso was introduced to take out all foreign currencies from circulation, and offer an alternative that is in almost all senses equal to US dollars.
This is somewhat true.In Cuba, there are two official currencies. One is called peso (or "national peso" / CUP). and the other is called the convertible peso (or "chaveto" / CUC).Tourists to Cuba are mostly given convertible peso by currency exchange. However both types of pesos are available to both tourists and national civilians.
Havana is a city in the Republic of Cuba.The major legal currency for Cuba is the Cuban Convertible Peso.There is no international trading in the Cuban Convertible Peso, these can't be bought in advance if you're travelling to Cuba.
Cuban convertible peso was created in 1994.
The money unit used in Cuba is called 'Peso', 'Cuban Peso', to differentiate it from other currencies names of Latin American countries. There is another official currency, the 'convertible peso', which is the currency in which Cuban workers receive their wages.
$1(US) = 26.5 Cuban Pesos as at Tuesday 15th of June 2010. The Cuban Peso is only one of two currencies used in Cuba the other being the convertible peso. Cubans typically have a portion of their wages given in Cuban Pesos to buy essential goods at a fixed price with the rest paid in Convertible Pesos to buy other things. The Convertible Peso is pegged to the US currency at 1 Peso = $1.08.
Cuban coins are called "pesos." The currency in Cuba is the Cuban peso (CUP) and the Cuban convertible peso (CUC). The CUP is used primarily by locals for daily transactions, while the CUC is pegged to the U.S. dollar and used by tourists.
Cuban Peso