The peso is a monetary unit mainly used in former Spanish colonial countries. Some countries once used the peso as the name of their national currency, but due to inflation and other reasons, the peso has been abandoned. However, in these countries, the word peso is still often used when talking about commodity prices in daily life.

Cuba has two monetary systems, one is convertible peso and the other is Cuban peso. Convertible pesos are similar to foreign exchange certificates and are now linked to the US dollar. The Cuban peso is the legal tender of Cuba and is issued by the Central Bank of Cuba, namely the National Bank of Cuba.

1914165438+17 October, the Cuban peso was pegged to the US dollar, which was equivalent to the US dollar. Since 196 1, the Cuban peso has been pegged to the pound. The Cuban peso is no longer pegged to the pound. On June 1978, the Cuban peso began to float. Since the 1980s, the Cuban peso has been changing with the ups and downs of the US dollar. At the end of 1980, the Cuban peso exchange rate was 1 USD 0.7045, and at the end of 1 USD 0.797.