How has the decline in tourism due to the pandemic affected Cuba's foreign exchange reserves?

Jan 1, 2021 ... Rewind. Why does Cuba have two currencies? The Cuban peso, known as the CUP, was created as the island's currency by the first president of the ... Jan 2, 2025 ... You should absolutely bring US dollars to Cuba, even if you are not traveling from the US. This is because you will pay for most of your ... The national currency in Cuba is the Cuban Peso (CUP). One Cuban Peso is equivalent to 100 cents. There are bills of 1, 3, 5, 10, 10, 20, 20, 50, 100, 200, 500 ... ... currency, below is a list of countries and their respective currency formats. ... Croatia (comma used officially, but both forms are in use elsewhere); Cuba ... Feb 26, 2025 ... The currency doesn't exist as cash and its value is pegged with the US dollar. It's used mainly by Cubans with special magnetic cards. Jan 30, 2018 ... Cuba has two currencies: you'll hear these referred to as the local currency, or Cuban Peso, and the Cuban Convertible Currency, or Cuban currency for tourists. Jan 14, 2021 ... Cuba removed from circulation the convertible peso (CUC); only the CUP and USD will remain. · Cubans can exchange their convertible pesos (CUCs) ... Oct 7, 2020 ... Second is the so-called Convertible Peso (CUC), whose value is pegged to the US dollar, and is generally used to pay for more luxury items. Oct 8, 2024 ... The Cuban government has, for years, fixed the Cuban peso to the U.S. dollar. This creates a schism between the official rate and the rate that ... Apr 27, 2024 ... Cubans have to grapple with yet another hurdle while navigating an ... currencies circulate, including a virtual currency, MLC, created in 2019.