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).
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.
20/05/2007: Kuwaiti Dinar Redenominated
The Kuwaiti Dinar underwent a redenomination, with the introduction of new banknotes and removal of three zeros from the currency.
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.
20/03/2003: US Invasion of Iraq
The United States and its allies invaded Iraq, leading to a period of uncertainty and affecting the value of the Kuwaiti Dinar.
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.
25/03/1991: Kuwait Liberated
Coalition forces led by the United States liberated Kuwait from Iraqi occupation, restoring stability to the country and its currency.
02/08/1990: Iraqi Invasion of Kuwait
Iraqi forces invaded Kuwait, leading to the Gulf War and causing a significant decline in the value of the Kuwaiti Dinar.
16/09/1980: Iraq-Iran War Begins
The Iraq-Iran War started, leading to economic instability in the region and affecting the value of the Kuwaiti Dinar.
20/10/1975: Kuwait Dinar Pegged to Special Drawing Rights (SDR)
Kuwait pegged its currency to a basket of international currencies known as Special Drawing Rights (SDR) instead of the US Dollar.
02/01/1961: Kuwaiti Dinar Introduced
The Kuwaiti Dinar (KWD) was officially introduced as the currency of Kuwait, replacing the Gulf Rupee.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.