Cuban Peso in Chinese Yuan Renminbi

CUP Cuban Peso

Country of application:
Cuba

Coin denominations in circulation:
20 centavos, 1, 3, 5 Cuban pesos.

Denominations of banknotes in circulation:
1, 3, 5, 10, 20, 50, 100, 200, 500 Cuban pesos.

History reference:
The Cuban peso (sign $MN, code CUP) is the national currency of Cuba, used in conjunction with the convertible peso. The first issue of the currency took place in 1857. Prior to this, the country use...d to pay for the Spanish real. In tourism, the country still uses another currency - the convertible Cuban peso. However, recently it has become possible to pay with US dollars in shops and hotels. The government plans to completely remove the convertible currency and leave only the CUP.

CNY Chinese Yuan Renminbi

Country of application:
PRC

Coin denominations in circulation:
1 yuan, 5, 2 and 1 jiao.

Denominations of banknotes in circulation:
100, 50, 20, 10, 5, 2 (rare) and 1 yuan, as well as 5, 2 and 1 jiao.

History reference:
The Chinese Yuan is the official currency of the Peoples Republic of China. Until the beginning of the 20th century, in China, for large-scale settlements, they used silver ingots - lyans. Small purc...hases were made using bronze round coins with a square hole in the center - qian, which Europeans call "keshi". Silver yuan began to be made in 1835. The use of silver coins and silver liang was banned in China in 1935. Instead, a boom in paper money began to grow - fabi. A certain easing in monetary policy occurred only in 2005, when the Chinese authorities carried out a revaluation of the yuan, raising its value by 2%. By 2008, the yuan appreciated by more than 20% to 6.82 yuan per US dollar. Nevertheless, even today, the PRC continues to enjoy certain foreign trade advantages, which are based on the undervalued exchange rate of the national currency.