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).
29/12/2014: 1 US Dollar = 3.891 Israeli Sheqel
The Israeli Sheqel (ILS) reaches a historical low against the US Dollar in the foreign exchange market.
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.
04/05/2008: Introduction of New Banknotes
New Israeli Sheqel (ILS) banknotes with enhanced security features were issued.
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.
01/09/1999: Introduction of Sheqel Coins
Israeli Sheqel (ILS) coins were introduced, replacing the agora as the subunit 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.
24/02/1985: Hyperinflation Crisis
Israel experiences hyperinflation, leading to the introduction of the new Israeli Sheqel (ILS).
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.
16/03/1960: Introduction of the New Sheqel
The old Israeli pound (ILP) was replaced by the new Israeli Sheqel (ILS) as the official currency.
24/02/1949: Introduction of the Israel Pound
The Israeli pound (ILP) was introduced as legal tender in Israel.
24/09/1948: Israeli Declaration of Independence
The Israeli pound (ILP) was introduced as the official currency of Israel.