Cuban Peso Wiki
The Cuban Peso is the official currency of Cuba. The currency code for Cuban Peso is CUP and the currency symbol is $CU.
The Cuban Peso (sign: $; code: CUP) is the currency of Cuba.
The Cuban Peso (CUP) is used as the official currency in Cuba.
The capital of Cuba, Havana, uses the Cuban Peso as its currency.
About the Cuban Peso
The Cuban peso (in Spanish peso cubano, ISO 4217 code: CUP) also known as moneda nacional, is the official currency of Cuba.
The Cuban peso historically circulated at par with the Spanish-American silver dollar from the 16th to 19th centuries, and then at par with the U.S. dollar from 1881 to 1959. The Castro government then introduced the socialist planned economy and pegged the peso to the Soviet ruble.
The Soviet Union's collapse in 1991 resulted in a Special Period of difficult economic adjustments for Cuba. From 1994 to 2020 the Cuban peso co-circulated with the Cuban convertible peso (ISO 4217 code "CUC"; colloquially pronounced "kook" in contrast to the CUP, often pronounced "koop"), which was convertible to and fixed against the U.S. dollar, and which was generally available to the public at a rate of US$1 = CUC 1 = CUP 25. State enterprises under the socialist planned economy, though, were entitled to exchange CUPs into CUCs and U.S. dollars at the official, subsidized rate of US$1 = CUC 1 = CUP 1, within prescribed limits.
From 1 January 2021 Cuba implemented the so-called "Day Zero" of monetary unification which abolished the Cuban convertible peso as well as the 1 CUP/USD rate for state enterprises. Henceforth the Cuban Peso became the only legal tender in Cuba, CUCs were converted at the rate of 24 CUP/CUC, and a single official exchange rate of 24 CUP/USD became applicable for both public and private transactions. However, demand for hard currency made these exchange rates unavailable in the informal market.
With currencyconverts.com, you can convert Cuban Peso ($CU) to any other foreign currency. To convert a certain amount of Cuban Peso, use the currency converter. This page provides free online information about currency conversion or exchange rates for world fiat currencies. The exchange rate for Cuban Peso is calculated from the mid-market real price and updates daily. Usually, people search for the CUP exchange rate before business travel to Cuba or during a trip to other countries, and want to check the rate of Cuban Peso in local money. On this page, you can convert Cuban Peso to main foreign currencies, get fast access to the most commonly used amounts of CUP, or alternatively calculate any amount of Cuban Peso in other fiat money.