Cuban convertible peso

The convertible peso (sometimes given as CUC$ and informally called a cuc or a chavito) is one of two official currencies in Cuba, the other being the Cuban peso. It has been in limited use since 1994, when its value was pegged 1:1 to the United States dollar. On 22 October 2013, it was announced that the currency is to be scrapped, with it being gradually unified with the lower-value Cuban peso.

Cuban convertible peso

The convertible peso (sometimes given as CUC$ and informally called a cuc or a chavito) is one of two official currencies in Cuba, the other being the Cuban peso. It has been in limited use since 1994, when its value was pegged 1:1 to the United States dollar. On 22 October 2013, it was announced that the currency is to be scrapped, with it being gradually unified with the lower-value Cuban peso.