The convertible peso (sometimes given as CUC$ and informally called a cuc or a chavito) was one of two official currencies in Cuba, the other being the Cuban peso.
It has been in limited use since 1994.
On 8 November 2004, the U.S. dollar was officially no longer accepted in Cuba (though unofficially it was). Its value was increased to US$1.08 in April 2005, but went back to US$1.00 on 15 March 2011.
On 22 October 2013, it was announced that the convertible peso would end, being gradually unified with the lower-value Cuban peso. On 10 December 2020, it was announced that the convertible peso will no longer be in effect, from 1 January 2021.
This article uses material from the Wikipedia Simple English article Cuban convertible peso, which is released under the Creative Commons Attribution-ShareAlike 3.0 license ("CC BY-SA 3.0"); additional terms may apply (view authors). Content is available under CC BY-SA 4.0 unless otherwise noted. Images, videos and audio are available under their respective licenses.
®Wikipedia is a registered trademark of the Wiki Foundation, Inc. Wiki Simple English (DUHOCTRUNGQUOC.VN) is an independent company and has no affiliation with Wiki Foundation.