Cuban peso

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/cuban-peso

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the legal framework?Established by Cuban Law on October 29, 1914
2. What is the dual currency era?1994-2020: Co-circulation of CUP and CUC (Cuban convertible peso)
3. Why did Cuba have two kinds of money before 2021?From 1994 to 2020, Cuba used the Cuban convertible peso (CUC) and the Cuban peso (CUP). The CUC was worth about the same as a U.S. dollar, while the CUP was worth less, so people had different buying power.
4. How did the Cuban peso change after the 1959 revolution?After the revolution, Cuba stopped keeping the peso equal to the U.S. dollar and started a new economic plan. The money was managed differently to fit a socialist system.

ISO 4217: An international standard that defines currency codes, like CUP for the Cuban peso.
Socialist Planned Economy: An economic system where the state centrally plans production, distribution, and pricing.
Informal Market: An unofficial market where goods and currency are traded outside government regulation and pricing.