Banco Central de Cuba denied last week the unification of its two currencies, the peso cubano (CUP) and the peso convertible (CUC). Pesos convertibles are, as their name indicates, equal in value to U.S. dollars and convertible to hard currency, at least in theory. In fact recent announcements in the social media offer U.S. dollars in brand new notes at CUC1.60.
The CUP/CUC unification has been discussed in the last 10 years.
Source: noticias bancarias.com
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