3 Pesos

Cuba's three-peso denomination has always been politically loaded — it is the denomination traditionally associated with Che Guevara's image, a connection the Castro government maintained deliberately across multiple series. This 2004–2006 printing, produced domestically by Impresos de Seguridad, is notable precisely because Cuba had the in-house capacity to print its own currency by this point, something many comparable economies in the region lacked.

Watermark-only security on a note from this period reflects the limitations of the domestic facility rather than any policy choice about note security.