Cuban convertible peso in Panamanian Balboa

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

PAB Panamanian Balboa

Country of application:
Panama

Coin denominations in circulation:
1 and 5 centesimos, 0.1, 0.25, 0.5, and 1 balboa.

Denominations of banknotes in circulation:
-

History reference:
The Balboa is the currency of the Republic of Panama. Panama money got its name from the Spanish conquistador Vasco Nunez de Balboa, the first European to cross the Isthmus of Panama from the Atlanti...c to the Pacific coast. With the independence of Panama in 1904, it became necessary to introduce a new currency to replace the Colombian peso. The balboa became such a currency. Until 1934, it was relatively independent and had a certain gold content (1.5048 g of pure gold), later a firm 1:1 ratio with the US dollar was established, which has been maintained to this day.