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).
01/10/2019: New Generation Banknotes
Kenya introduced a new series of banknotes with enhanced security features and design elements to fight illicit financial activities.
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.
01/07/2010: Introduction of New Currency Denominations
Kenya introduced new currency denominations, including the 1000 shilling note, to combat money laundering and illegal financial activities.
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.
07/12/1994: Dollarization Decree
Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.
14/09/1994: Transition to New Currency
Kenya introduced a new design of banknotes and coins to counter counterfeiting and promote national identity.
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.
01/07/1985: Second Devaluation of the Shilling
The Kenyan shilling was further devalued by 30% as part of economic reforms and structural adjustments.
14/09/1980: Devaluation of the Shilling
The Kenyan shilling was devalued by 30% as part of an austerity measure to address the country's economic challenges.
14/06/1969: Decimalization of the Shilling
Kenya decimalized its currency, dividing the shilling into 100 cents for easier transactions and financial calculations.
14/06/1966: Introduction of the Kenyan Shilling
The Kenyan shilling was introduced as the official currency of Kenya replacing the East African shilling as a result of Kenya's independence from British colonial rule.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.