Cuban peso


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Related to Cuban peso: Cuban convertible peso
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Noun1.Cuban peso - the basic unit of money in Cuba; equal to 100 centavos
centavo - a fractional monetary unit of several countries: El Salvador and Sao Tome and Principe and Brazil and Argentina and Bolivia and Colombia and Cuba and the Dominican Republic and Ecuador and El Salvador and Guatemala and Honduras and Mexico and Nicaragua and Peru and the Philippines and Portugal
Cuban monetary unit - monetary unit in Cuba
Translations
kubanischer Peso
References in periodicals archive ?
the Cuban peso, or CUP, and the convertible peso, or CUC), and the creation of wholesale markets where nonstate producers (e.
TOP TIP Cuba has two currencies - the convertible peso (CUC) and the Cuban peso (CUP).
Whereas, one Cuban CUC is worth one American dollar, one Cuban peso currently is worth 3.
Currencies highlighted by this initiative are the Cuban Convertible Peso or CUC and the Cuban Peso or CUP (national currency) whose exchange rate varies from 1 CUC to 24 CUP for the population and 1 to 1 in the entrepreneurial sector.
The still-to-be-established date will end the simultaneous circulation of two currencies (the Cuban peso and the convertible peso) and is a measure that, according to the communist government, has been considered necessary for two decades to make the economy more efficient.
Stephen Hart contemplates Cuban santeria from the complexities of a double economy and points out the existence of a third, "supernatural economy" that intersects with the "money economy," itself bifurcated between the Cuban peso economy and the more lucrative CUC/tourist economy and its "peso convertible" (worth 24 Cuban pesos).
In this system, most Cubans are paid in the Cuban peso, or CUP.
In his first speech as president in February 2008, Raul promised to make the government smaller and more efficient, to review the potential revaluation of the Cuban peso, and to eliminate excessive bans and regulations that curb productivity.
What it is likely to accomplish is the further flight from the Cuban peso into convertible currencies such as North American dollars and European euros.
While the message of no major political change was clear, Raul indicated at least one economic change was being contemplated: revaluation of the Cuban peso, the national currency.
Cuba even uses a dual currency: for tourists, the convertible peso, which matches the dollar, and for its citizens, the Cuban peso, at about 24 pesos to the dollar.