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5 Pesos Convertibles
| Issuer | Banco Nacional de Cuba |
|---|---|
| Year | 1994 |
| Type | Standard circulation banknote |
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| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | At left, the coat of arms of the Banco Nacional de Cuba; at right of centre, a vignette of the Monument to Antonio Maceo in Havana. The issuer name runs along the upper left margin, with the face value numeral at centre and denomination text below. The year 1994 and the monument name appear as inscriptions within the design. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | REPUBLICA DE CUBA 5 PESOS CONVERTIBLES 5 ESTE BILLETE TIENE CURSO LEGAL Y FUERZA LIBERATORIA ILIMITADA DE ACUERDO CON LA LEY PARA EL PAGO DE TODA OBLIGACION EN MONEDA LIBREMENTE CONVERTIBLE Y CONTRAIDA O A CUMPLIR EN EL TERRITORIO NACIONAL Y CONSTITUYE UNA OBLIGACIÓN DEL ESTADO CUBANO (Translation: Republic of Cuba 5 Pesos Convertibles 5 This note is legal tender and of unlimited liberating force according to the law for the payment of all obligations in freely convertible currency, contracted or to be fulfilled in the national territory, and constitutes an obligation of the Cuban State.) |
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| Comments |
Cuba's "convertible peso" system was formalized in the early 1990s as the Soviet subsidies collapsed and the government needed a mechanism to capture hard currency circulating on the black market. These notes were pegged to the US dollar and usable only in the dollar-store network — the tiendas de recaudación de divisas — effectively creating a two-tier monetary system that ran parallel to the regular peso economy for over two decades.
Thomas De La Rue's involvement is notable given the US embargo's reach; Cuba routinely sourced printing from European firms throughout this period. The watermark security is minimal by De La Rue's own standards, reflecting a short-anticipated lifespan for the series.