Tags: Currency.
The convertible peso (sometimes given as CUC$) (informally called a cuc’ or chavito’) is one of two official currencies in Cuba the other being the peso. It has been in limited use since 1994 when it was treated as equivalent to the U.S. dollar: its value was officially US$1.00. On 8 November 2004 the U.S. dollar ceased to be accepted in Cuban retail outlets leaving the convertible peso as the only currency in circulation in many Cuban businesses.