Cuban convertible peso (historically)

E304996

The Cuban convertible peso was a former Cuban currency used mainly for tourism and certain domestic transactions, functioning as a hard-currency substitute until its elimination in the country’s monetary unification.

All labels observed (3)

How this entity was disambiguated

Statements (42)

Predicate Object
instanceOf Cuban currency
former currency
abolishedInContextOf Cuban monetary unification
category Currencies of Cuba
Former currencies
ceasedToCirculate 2021
coexistedWith Cuban peso
country Cuba
denominationForm banknotes
coins
exchangeabilityAfterAbolition limited time conversion into Cuban pesos
exchangeRateToCUPBeforeUnification 1 CUC = 24 CUP (official rate for population)
1 CUC = 25 CUP (cash transactions)
fixedExchangeRate 1 CUC = 1 USD
historicalPeriodOfUse early 21st century
late 20th century
introduced 1994
introducedAs domestic hard-currency substitute
ISO4217Code CUC
legalTenderIn Cuba
monetaryAuthority Central Bank of Cuba
monetarySystem dual-currency system in Cuba
monetaryUnificationPolicy Tarea Ordenamiento
officialName Cuban convertible peso (historically) self-linksurface differs
surface form: peso cubano convertible
peggedTo US dollar
surface form: United States dollar
primaryUse certain domestic transactions
tourism sector
transactions in hard-currency shops
replacedBy Cuban peso
role store of value for Cubans with access to hard currency
status abolished
subunit centavo
subunitToUnit 100 centavos
symbol $
CUC$
type fiat currency
usedBy Cuban state sector
foreign tourists in Cuba
usedIn dollar shops in Cuba
state-run tourist facilities
withdrawalAnnounced 2020
withdrawalEffective 2021

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Cuban peso peggedTo Cuban convertible peso (historically)
Almacenes Universales S.A. usesCurrency Cuban convertible peso (historically)
this entity surface form: Cuban convertible peso
Central Bank of Cuba currencyManaged Cuban convertible peso (historically)
this entity surface form: Cuban convertible peso
Cuban convertible peso (historically) officialName Cuban convertible peso (historically) self-linksurface differs
subject surface form: Cuban convertible peso
this entity surface form: peso cubano convertible