Catalog
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| Issuer | Banco Nacional de Cuba |
|---|---|
| Year | 1994 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | BANCO NACIONAL DE CUBA CUBA 20 VEINTE PESOS pesos convertibles GARANTIZADO ÍNTEGRAMENTE POR VALORES INTERNACIONALES DE LIBRE CONVERTIBILIDAD, SU CANJE POR DIVISAS PUEDE EFECTUARSE EN LOS ESTABLECIMIENTOS AUTORIZADOS Y SE CONVIERTE EN EL BANCO NACIONAL DE CUBA PRESIDENTE DEL BANCO AÑO 1994 |
| Reverse description | The reverse presents the Cuban coat of arms at centre, rendered in full heraldic detail with the royal palm, rising sun, key, and blue-and-white striped shield, encircled by oak and laurel branches with a Phrygian cap at the apex and a five-pointed star to the left. The header inscription REPUBLICA DE CUBA appears across the top in red, with the denomination 20 and PESOS CONVERTIBLES in the upper right. A legal tender clause in small text runs along the lower portion of the note against a light guilloche underprint. |
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| Comments |
Cuba's peso convertible system, introduced in the early 1990s as the Soviet subsidy model collapsed, created a parallel currency intended for dollar-equivalent transactions — effectively a two-tier monetary structure that persisted until the unification of 2021. This note was part of that original convertible peso issue, printed by De La Rue in London at a time when the Cuban state had neither the hard currency reserves nor the printing infrastructure to produce credible high-denomination paper domestically.
The FX prefix in the Pick reference designates foreign exchange certificates — a category that sits awkwardly between currency and scrip. Surviving examples in circulation grades are common; unissued remainders slightly less so.