Cuba 1 Peso 2003 - Pick 122

Jose Marti and his birth house

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The peso (ISO 4217 code: CUP, sometimes called the "national peso") is one of two official currencies in use in Cuba, the other being the convertible peso (CUC). It is subdivided into 100 centavos.

Dollars are sometimes referred to colloquially as “pesos” and convertible pesos as “dollars”; which currency is meant should be understood from the context. To add to the confusion, “pesos” may refer to both moneda nacional and convertible pesos even in cases where (to the tourists, at least) it is not obvious which currency is being used. Cuban state workers receive a portion of their wages in convertible pesos, the rest in the normal pesos. Shops selling basics, like fruit and vegetables, generally only accept the normal peso, while “dollar shops” sell the rest.