Convert United States Dollar to Cuban Peso
Please provide values below to convert United States Dollar [USD] to Cuban Peso [CUP], or Convert Cuban Peso to United States Dollar.
How to Convert United States Dollar to Cuban Peso
1 USD = 0.0416666666666667 CUP
Example: convert 15 USD to CUP:
15 USD = 15 × 0.0416666666666667 CUP = 0.625 CUP
United States Dollar to Cuban Peso Conversion Table
| United States Dollar | Cuban Peso |
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United States Dollar
The United States Dollar (USD) is the official currency of the United States of America, used as a standard unit of monetary value and exchange.
History/Origin
The USD was established in 1792 with the Coinage Act, replacing the Continental Congress's Continental Currency. It has since become one of the world's dominant reserve currencies, influenced by the economic growth of the U.S. and global financial markets.
Current Use
The USD is widely used domestically and internationally for trade, investment, and as a reserve currency. It is the most traded currency in the foreign exchange market and is used as the standard currency in many international transactions.
Cuban Peso
The Cuban Peso (CUP) is the official currency of Cuba, used for everyday transactions within the country.
History/Origin
The Cuban Peso has been the official currency of Cuba since 1960, replacing the Cuban peso convertible (CUC) as the primary currency after the monetary reforms. It has undergone various changes in value and design over the years, reflecting Cuba's economic policies and relations.
Current Use
Today, the Cuban Peso is used mainly for domestic transactions, while the CUC is used for tourism and foreign trade. The CUP remains an essential part of Cuba's monetary system, with recent reforms aiming to unify the currency system.