Cuban peso south african rand exchange rate history (CUP ZAR) October 2023

Cuban peso south african rand history for October 2023. The highest quote for this month is 0.81888 (06/10/2023) and the lowest 0.80579 (09/10/2023). The difference between high and low is 1.6.

CUP ZAR average rate for October 2023 is 0.79365, the change between 01/10/2023 and 31/10/2023 is -0.01 %.

01 October 2023	1 CUP = 0.7863 ZAR
02 October 2023	1 CUP = 0.7859 ZAR
03 October 2023	1 CUP = 0.8010 ZAR
04 October 2023	1 CUP = 0.8047 ZAR
05 October 2023	1 CUP = 0.8068 ZAR
06 October 2023	1 CUP = 0.8160 ZAR
07 October 2023	1 CUP = 0.8040 ZAR
08 October 2023	1 CUP = 0.8038 ZAR
09 October 2023	1 CUP = 0.8111 ZAR
10 October 2023	1 CUP = 0.7986 ZAR
11 October 2023	1 CUP = 0.7922 ZAR
12 October 2023	1 CUP = 0.7846 ZAR
13 October 2023	1 CUP = 0.7931 ZAR
16 October 2023	1 CUP = 0.7911 ZAR
17 October 2023	1 CUP = 0.7830 ZAR
18 October 2023	1 CUP = 0.7850 ZAR
19 October 2023	1 CUP = 0.7914 ZAR
20 October 2023	1 CUP = 0.7929 ZAR
21 October 2023	1 CUP = 0.7867 ZAR
22 October 2023	1 CUP = 0.7910 ZAR
23 October 2023	1 CUP = 0.7928 ZAR
24 October 2023	1 CUP = 0.7909 ZAR
25 October 2023	1 CUP = 0.7929 ZAR
26 October 2023	1 CUP = 0.7979 ZAR
27 October 2023	1 CUP = 0.7897 ZAR
28 October 2023	1 CUP = 0.7859 ZAR
29 October 2023	1 CUP = 0.7859 ZAR
30 October 2023	1 CUP = 0.7846 ZAR
31 October 2023	1 CUP = 0.7863 ZAR

01/01/2021: End of Monetary Dualism

The Cuban government completed the currency unification process, eliminating the convertible peso (CUC) and establishing a single currency system with the Cuban peso (CUP).

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

20/12/2013: Currency Unification Implementation

The Cuban government officially started the process of currency unification, gradually phasing out the convertible peso (CUC) and improving monetary policy.

25/10/2011: Currency Unification Announced

The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

08/12/2004: Elimination of US Dollar Circulation

The Cuban government announced the withdrawal of the US dollar as legal tender and introduced the convertible peso (CUC) as a replacement.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

07/12/1994: Dollarization Decree

Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.

01/08/1994: Special Period

The Cuban economy faced a severe crisis due to the collapse of the Soviet Union, leading to currency devaluation and economic reforms.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

01/01/1961: Nationalization of Banks

The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.

Historic Cuban peso South African rand