What is Cuban convertible peso?
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.<ref>{{cite web|url= https://www.bbc.com/news/world-latin-america-24627620|title= Cuba to scrap two-currency system in latest reform|publisher= BBC News|date= 12 October 2013|access-date= 22 October 2013}}</ref> On 10 December 2020, it was announced that the convertible peso will no longer be in effect, from 1 January 2021. ==References== {{reflist}} [[Category:Currency of North America]] [[Category:Cuba]] {{North-America-stub}}