100 Pesos Convertibles

The "convertible peso" series launched in 1994 was Cuba's answer to a dual-currency economy made official — the CUC system legally separated tourist and hard-currency transactions from the ordinary peso circuit used by Cuban nationals. This note was never intended for general domestic circulation; it functioned within a parallel system designed to capture foreign exchange and redirect it through state channels, effectively pricing out the standard peso from any transaction involving imported goods or tourist services.

The FX prefix in the Pick reference signals its foreign exchange certificate classification, a category that sits awkwardly between banknote and scrip. By 2021, the Cuban government abolished the dual-currency system entirely, rendering the convertible peso obsolete at a stroke.