CHW to CUC

CHW - WIR Franc (CHW)
CUC - Cuban Convertible Peso (CUC)
1 CHW1 CUC

Currency conversion rates from CHW to CUC

CHWCUC
1 CHW1 CUC
5 CHW5 CUC
10 CHW10 CUC
20 CHW20 CUC
50 CHW50 CUC
100 CHW100 CUC
250 CHW250 CUC
500 CHW500 CUC
1000 CHW1000 CUC
2000 CHW2000 CUC
5000 CHW5000 CUC
10000 CHW10000 CUC
CUCCHW
1 CUC1 CHW
5 CUC5 CHW
10 CUC10 CHW
20 CUC20 CHW
50 CUC50 CHW
100 CUC100 CHW
250 CUC250 CHW
500 CUC500 CHW
1000 CUC1000 CHW
2000 CUC2000 CHW
5000 CUC5000 CHW
10000 CUC10000 CHW

CHW - ()

More information about CHW - ()


CUC - Cuban Convertible Peso (CUC$)

Cuban Convertible Peso

The Cuban Convertible Peso (CUC) is one of two currencies used in Cuba. The other currency is simply called the Cuban Peso and has been in limited use since 1994. Retail stores and other businesses mainly use the Cuban Convertible Peso. The Convertible Peso can only be exchanged in Cuba itself. It is pegged to the US Dollar at par. The Convertible Peso is rated as the strongest Peso currency, as well as the 10th highest currency worldwide.

The Cuban Convertible Peso is the currency in Cuba (CU, CUB). The exchange rate for the Cuban Convertible Peso was last updated on Today from The International Monetary Fund. The CUC conversion factor has 6 significant digits.

Economy

  • Cuba’s economy is run by the state and seen as a planned economy.
  • The majority of the labor force works for the government. The unemployment rate is 1.7%.
  • Services account for 74% of the total GDP.
  • Top industries are tobacco, petroleum, steel, cement, pharmaceuticals, construction, nickel, agricultural machines, and sugar.
  • Export products are tobacco, shellfish, coffee, citrus, and medical products.
  • Import products are chemicals, equipment and machinery, food, and petroleum.
  • Cuba recently started attracting world-class pharmaceutical and biotechnology industries.
  • 80% of Cuba’s food is imported.
  • Tourism is growing rapidly, however the retail sector in Cuba is poorly run.
  • The Netherlands is the largest importer of Cuban products.

History

  • In 1994, the Cuban Convertible Peso was introduced alongside the existing Cuban Peso.
  • Until 2004, Cuba used the Peso (CUP) for non-luxury items and staples; the Convertible Peso and the US Dollar were used mainly in the tourism trade and for luxury items.
  • In 2004, the USD was take off the market due to sanctions. A 10% tax was charged for converting USDs to convertible pesos. This tax does not apply to any other currency.
  • In 2011, Cuba pegged the Convertible Peso to the USD at par.

More information about CUC - Cuban Convertible Peso (CUC$)