The currency of Cuba is the Cuban peso. Historically, the country had two official currencies: the Cuban peso (CUP) and the Cuban convertible peso (CUC), which was pegged to the U.S. dollar. However, the government phased out the CUC in 2021, re-establishing the CUP as the sole legal tender. The Cuban peso has faced significant devaluation due to economic challenges, inflation, and a long-standing U.S. embargo. Despite these difficulties, the currency is used for all domestic transactions in Cuba, and understanding its value is essential for anyone engaging in trade or travel within the country.