Mexican Peso to Cuban convertible peso

The Mexican peso (symbol: $, code: MXN, number: 484 ) is the currency of Mexico. It is divided into 100 centavos. The name "peso" was first used to denote Mexican money in 1863.

During the denomination of 1993 the old pesos were exchanged for new ones at a rate of 1000:1. The currency is accepted in the country on the par with the US dollar. To avoid any confusion, the symbol of the national currency is written as an S with one vertical trait, whilst the US dollar - with two. Symbol “ $” happened to be first used to denote the peso and not the USD.

The Cuban convertible peso (sign $, code CUC) is one of the two currencies used in Cuba. The name has become a reason for an unofficial name of the currency. It is often called cuc.

One peso can be exchanged for 100 centavos. The convertible peso has first been introduced in Cuba in 1994 to allow for an easier payment process for tourists and diplomats within the country. The introduction of the convertible peso as a second currency has led to an increase in fraud directed at foreign citizens. Since 2013, Cuba has started to gradually decrease the use of this currency, turning to the regular Cuban peso.