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3 Pesos

Issuer Banco Nacional de Cuba
Year 1995
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Printer Impresos de Seguridad, Havana, Cuba
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Obverse description Intaglio portrait vignette of Ernesto 'Che' Guevara at left, his name inscribed beneath; the face value is expressed in both numeral and text at centre, while the issuer title arches across the top of the note. The coat of arms of the Banco Nacional de Cuba is positioned at upper right, and the note is executed predominantly in red with serial numbers printed in dark blue.
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Protection type Watermark
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Comments

Cuba's shift to domestic banknote production was a quiet but deliberate policy move. The Impresos de Seguridad facility in Havana had been producing notes since the late 1980s, reducing dependence on foreign printers — a practical necessity given the intensifying U.S. embargo and the post-Soviet economic collapse that had decimated state revenues by the mid-1990s. This note comes from that austerity period, the so-called "Special Period," when fuel shortages halted much of Cuba's industrial output and physical cash demand simultaneously spiked and contracted in strange ways.

The watermark is the sole security feature — a notably sparse specification for a mid-decade issue.

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