Cuban convertible peso in Nigerian Naira

CUC Cuban convertible peso

Country of application:
Cuba

Coin denominations in circulation:
5, 10, 25, 50 centavos, 1 Cuban Convertible Peso.

Denominations of banknotes in circulation:
1, 3, 5, 10, 20, 50, 100 Cuban Convertible Pesos.

History reference:
On October 23, 2013, a message was published by the Council of Ministers of Cuba on agreeing on a schedule for the implementation of measures to unify the countrys monetary circulation, providing for... a gradual transition from a system of two currencies to a single Cuban currency[1]. On January 1, 2021, a large-scale reform was launched in the republic to abolish the dual monetary system, announced in December 2020 by Cuban President Miguel Mario Diaz-Canel.[2] From the beginning of 2021, Cuba began to withdraw convertible pesos from circulation, giving citizens 180 days to exchange savings in banks for Cuban pesos at a rate of 1:24

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.