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The Cuban Peso is the official currency of Cuba and it’s exchange rate with US Dollars has been in flux for most of its history. The CUP to USD conversion rates have been highest at periods of economic difficulty, however, since the 1990s there has been a steady decline in cup to dollar exchange rates. This blog post will discuss cup to usd exchange rates over time and what factors may be influencing them so that you can make an educated decision about which currency would work best for your business!
The peak CUP to USD rate ever seen was from 1993-1994, but this again coincided with an economically difficult time for Cuba following the Soviet Union’s collapse.
In addition to being influenced by periods of economic hardship, CUP to USD exchange rates can also be impacted by macroeconomic factors that affect both countries’ economies such as interest rates and trade balances between them.
When visiting Cuba, you should be aware that the Cuban Peso does not have a fixed rate with the US Dollar like most currencies do; instead, they are pegged to each other at an exchange rate that fluctuates depending on market conditions.
This means that when your vacation is over and you want to convert back home currency into dollars so that you can pay off credit card debt or make payments for rent/mortgage, there will be very likely be some fluctuations in what ratio of CUP to USD works best for you!
When in Cuba, the easiest currencies to exchange for Cuban Pesos are:
- USD US Dollars
- CAD Canadian Dollars
- EUR Euros
- GBP British Pounds Sterling
Locally, the Cuban Peso $MN is also known as Moneda Nacional and it’s issued by The Central Bank of Cuba.
Exchange Rates to American Dollars ( USD – $ ) from
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