10 Pesos

Cuba's decision to print its own security paper currency domestically — at the Impresos de Seguridad facility in Havana — was a direct consequence of the Special Period, the severe economic contraction that followed the collapse of Soviet subsidies after 1991. Contracting foreign printers became both a hard currency expense Cuba could not afford and a political liability the government was reluctant to accept.

The series ran across more than two decades with minimal redesign, which is itself notable: most issuing authorities refresh long-running series far more frequently. The watermark is the sole security feature listed for this type — modest by contemporary standards even at first issue in 1997.