18/01/2021: Suspension of Eco adoption
The Central Bank of the Comoros suspended the adoption of the Eco currency, retaining the Comorian Franc as the official currency.
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).
01/01/2019: Replacement of the Franc by the Eco
Comoros agreed to replace the Comorian Franc with the proposed Eco currency, along with other West African countries.
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.
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.
01/07/1997: Revaluation of the Comorian Franc
The Comorian Franc was revalued at a ratio of 1 new Franc to 75 old Francs, reducing the value of the currency.
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.
20/06/1994: Introduction of the New Comorian Franc
Comoros introduced a new series of banknotes and coins, replacing the old Comorian Franc.
01/01/1976: Establishment of the Central Bank of Comoros
The Central Bank of Comoros was established to manage the monetary policies and issue the Comorian Franc.
06/07/1975: Independence of Comoros
Comoros gained independence from France, but continued using the Comorian Franc as its currency.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.
01/01/1920: Introduction of the Comorian Franc
The Comorian Franc was introduced as the official currency of Comoros by the French colonial administration.