Tonight’s selection comes from our southern neighbor we don’t speak to, CUBA. The note is a 1994 issue 1 ‘peso convertible’. A ‘peso convertible’ is a peso that can be converted to other foreign currencies. The Cuban peso normally used can not be exchanged; this is a dual currency system.

You can acquire ‘peso convertibles’ at the airport, banks and at the Money Exchange Offices, called CADECA. In addition, the exchange of US dollars to 'Peso convertibles' will not be more one-to-one, but 1 US dollar = 0.82 Peso convertible. However, the penalty of 10 % IS ONLY APPLIED TO US-dollars and NOT for any other foreign currencies such as Euros and Canadian dollars. Other currencies than US-dollars will be exchanged according to the daily exchange rate of the international currency market. taking into consideration the 8% of revaluation of the Cuban Peso Convertible.

(Front) J. Marti Monument at right and as watermark. (Back) Arms at center.

This is a special note to me as it was brought to me by my late brother who was on business in Cuba and always brought a note from any of his travels. This note is priceless. ENJOY!