About the Cuban Peso
The Cuban Peso has been the currency of Cuba since 1857. For many years, it operated alongside the Cuban Convertible Peso (CUC), which was pegged to the US Dollar. In 2021, Cuba retired the CUC, leaving the CUP as the sole official currency.
The name 'Peso' is Spanish for 'weight', a legacy of the Spanish colonial currency system.
Interesting Facts
The Dual-Currency System
For over 25 years, Cuba had a unique and complex dual-currency system with the CUP (national peso) and CUC (convertible peso) circulating simultaneously.
Che Guevara on a Banknote
The 3-peso banknote famously features the portrait of revolutionary leader Che Guevara.
Monetary Unification
The process of eliminating the CUC in 2021, known as 'día cero' (zero day), was a major economic shake-up for the country.
Historical Timeline
The Cuban Peso is introduced.
The Cuban Convertible Peso (CUC) is introduced, pegged 1:1 to the USD.
The CUC is officially retired as part of a monetary unification process.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- CUP
- Symbol
- ₱
- Numeric Code
- 192
- Subunit
- Centavo (1/100)
- Introduced
- 1857-01-01
Central Bank
- Name
- Central Bank of Cuba
- Headquarters
- Havana, Cuba
- Founded
- 1997
- Current Governor
- Joaquín Alonso Vázquez (since 2023)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 31.34%
- Interest Rate
- 2.25%
Exchange Rates
What Affects the CUP Exchange Rate?
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