As Diplomatic Thaw Settles In, Currency Crisis Looms In Cuba

April 11, 2015 10:08 PM

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For 20 years, Cuba has had two types of money in circulation - the national peso and the convertible peso, or CUC. The value of the CUC is pegged to the U.S. dollar, making it 25 times more valuable than the national peso.

PATRICK SYMMES: People are paid in the low-value national peso, but most things that you need in life are only available in government-run stores that accept the CUCs.

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