The CUP and The CUC
Local citizens are paid most of their wages in CUP and pay everyday expenses in CUP. Tourists use the CUP only for staple and non-luxury products.
For accounting purposes, the public sector uses an exchange rate 1 CUP to 1 CUC. However, for the rest of the population, the exchange rate is that applied by the Cuban banks and Cadecas (exchange bureaux). From 18 March 2005, the rate is 1:25 when exchanging CUC for CUP and 24:1 when going from CUP to CUC.
| Current CUP exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD CNY |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD CNY |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD CNY |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD CNY |
| From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD CNY |
Read more about this topic: Cuban Peso
Famous quotes containing the word cup:
“Sunday morning may be cheery enough, with its extra cup of coffee and litter of Sunday newspapers, but there is always hanging over it the ominous threat of 3 P.M., when the sun gets around to the back windows and life stops dead in its tracks.”
—Robert Benchley (1889–1945)