2019-08-16 Fri

Cuba, officially the Republic of Cuba, is a country comprising the island of Cuba as well as Isla de la Juventud and several minor archipelagos. Cuba is located in the northern Caribbean where the Caribbean Sea, Gulf of Mexico and the Atlantic Ocean meet.

Culturally, Cuba is considered part of Latin America. It is a multi-ethnic country whose people, culture and customs derive from diverse origins, including the aboriginal Taino and Ciboney peoples, the long period of Spanish colonialism, the introduction of African slaves and a close relationship with the Soviet Union in the Cold War.

Cuba has a dual currency system, whereby most wages and prices are set in Cuban pesos (CUP), while the tourist economy operates with Convertible pesos (CUC), set at par with the US dollar. Under the Spanish Administration, the Banco Espanol de la Habana introduced Cuba's first issue of banknotes in 1857 in denominations of 50, 100, 300, 500 and 1,000 dollars.

Today we are discussing a 1 Peso banknote issued in 1995. The obverse depicts a portrait of Jose Marti is left with the denominational value in centre. The reverse has a scene of Fidel Castro with rebel soldiers entering Havana on 8th of January 1959.

Image Courtesy: http://www.argcollectibles.com/