Cuban Peso in West African Franc

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.

XOF West African Franc

Country of application:
Benin, Burkina Faso, Cote dIvoire, Guinea-Bissau, Mali, Niger, Senegal, Togo

Coin denominations in circulation:
1, 5, 10, 25, 50, 100, 200, 250, 500 CFA francs.

Denominations of banknotes in circulation:
500, 1000, 2000, 5000, 10,000 CFA francs.

History reference:
The CFA franc was introduced as the single currency of the French territories of West and Central Africa on December 26, 1945. By this time, the Franc Zone (an alliance created on the basis of former... French colonies) existed for about four years and was considered a voluntary association of participating countries. At first, the common currency was the French franc, but after the adoption of a decree in 1945, the CFA franc was introduced into circulation. The currency ratio was as follows: 1 CFA franc = 1.70 French francs. On November 20, 1963, Togo officially joined the Monetary Union. Mauritania leaves the Monetary Union in 1973. In the middle of 1984, Mali returned to the union. On January 10, 1994, after lengthy meetings, an agreement was reached in Dakar on the transformation of the West African Monetary Union into the West African Economic and Monetary Union, to which, on May 2, 1997, the Republic of Guinea-Bissau joined, replacing the significantly depreciated peso in circulation on its territory Guinea-Bissau to CFA franc BCEAO.