Cuban Convertible Peso (CUC) Profile
Currency name:
Cuban convertible peso CUC converter to world currencies »
Currency code:
Currency symbol:
CUC$
Subunit:
1/100, centavo convertible (symbol: ¢ or c)
Coins freq used:
CUC$1, 1¢, 5¢, 10¢, 25¢, 50¢
Coins rarely used:
CUC$5
Banknotes freq used:
CUC$1, CUC$3, CUC$5, CUC$10, CUC$20, CUC$50, CUC$100
Banknotes rarely used:
Central bank:
Central Bank of Cuba (www.bc.gov.cu)
Currency users:
Currency notes:
Nickname: chavito
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Currency user map:
Users:
The Cuban Convertible Peso (CUC) is a currency used in Cuba primarily for international transactions and by tourists. It is also known as the "dollar" in Cuba due to its close value to the US dollar.
While it is used for certain transactions, the regular currency used by Cuban citizens is the Cuban Peso (CUP).
History:
The Cuban Convertible Peso was introduced in 1994 as a response to the economic crisis faced by Cuba after the collapse of the Soviet Union.
The CUC was initially pegged to the US dollar at a 1:1 exchange rate, but in 2011, a 10% surcharge was imposed on USD exchanges, making the exchange rate 1 CUC = 1.10 USD.
Coins and Banknotes:
The Cuban Convertible Peso is subdivided into 100 centavos, although centavos coins are not commonly used in practice.
Coins:
Coins currently in circulation are 1, 5, 10, 25, and 50 centavos, as well as 1 CUC.
Banknotes:
The most commonly used banknotes are 1, 3, 5, 10, 20, 50, and 100 CUC.
Each banknote typically features important historical figures, landmarks, and symbols of Cuba.