Catalog
10 Pesos Convertibles
| Issuer | Banco Nacional de Cuba |
|---|---|
| Year | 1994 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | The reverse is dominated by a large, full-colour rendition of the Cuban national coat of arms at centre, set within a tricolour guilloche background of red, yellow, and green. The inscription 'REPUBLICA DE CUBA' arches across the top in bold red lettering, while the numeral '10' and 'PESOS CONVERTIBLES' appear at upper right. A red five-pointed star is printed to the left, and a legal tender clause in small text occupies the lower right corner. |
| Reverse lettering | REPUBLICA DE CUBA 10 PESOS CONVERTIBLES ESTE BILLETE TIENE CURSO LEGAL Y FUERZA LIBERATORIA ILIMITADA. ES ADMITIDO EN PAGO DE LA OBLIGACION EN MONEDA LIBREMENTE CONVERTIBLE CONTRATADA O A COBRAR EN EL BANCO NACIONAL DE CUBA. |
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| Comments |
Cuba's peso convertible system was introduced in 1994 as a direct response to the severe economic crisis following the Soviet collapse — the so-called "Special Period." The convertible peso was pegged to the US dollar at par, creating a two-currency economy that formally divided the island's commercial life into dollar-accessible and peso-only tiers for over two decades.
Thomas De La Rue's involvement is notable given the US embargo; routing the contract through London was standard practice for Cuban currency production throughout this period. The series was eventually demonetized in 2021 when the dual-currency system was officially abolished.