| The recent decision of Cuba’s Council of Ministers to re-establish a single currency system in the country has, first of all, a psychological aim with a clear political motivation: getting us used to the high retail prices we will be seeing when this one currency, most likely the Cuban Peso (the “CUP”, in bank jargon), becomes generalized.
In practice, however, it makes no difference whether one pays 500 Cuban Pesos (CUP) or 20 Convertible Pesos (CUC) for a pair of shoes. The self-employed, in fact, do not object to being paid in pesos. They even exchange the CUC for 24 pesos and, after some haggling, they may end up selling the article in question for a few less CUP so as to end the day with a good sale...............................................Full Article: Source
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