Cuban peso south african rand exchange rate history (CUP ZAR) February 2024

Cuban peso south african rand history for February 2024. The highest quote for this month is 0.80662 (26/02/2024) and the lowest 0.80318 (24/02/2024). The difference between high and low is 0.43.

CUP ZAR average rate for February 2024 is 0.79131, the change between 01/02/2024 and 29/02/2024 is -3.47 %.

01 February 2024	1 CUP = 0.7778 ZAR
02 February 2024	1 CUP = 0.7747 ZAR
03 February 2024	1 CUP = 0.7875 ZAR
04 February 2024	1 CUP = 0.7868 ZAR
05 February 2024	1 CUP = 0.7805 ZAR
06 February 2024	1 CUP = 0.7937 ZAR
07 February 2024	1 CUP = 0.7844 ZAR
08 February 2024	1 CUP = 0.7883 ZAR
09 February 2024	1 CUP = 0.7907 ZAR
10 February 2024	1 CUP = 0.7925 ZAR
11 February 2024	1 CUP = 0.7934 ZAR
12 February 2024	1 CUP = 0.7923 ZAR
13 February 2024	1 CUP = 0.7885 ZAR
14 February 2024	1 CUP = 0.7958 ZAR
15 February 2024	1 CUP = 0.7938 ZAR
16 February 2024	1 CUP = 0.7904 ZAR
17 February 2024	1 CUP = 0.7851 ZAR
18 February 2024	1 CUP = 0.7851 ZAR
19 February 2024	1 CUP = 0.7852 ZAR
20 February 2024	1 CUP = 0.7902 ZAR
21 February 2024	1 CUP = 0.7886 ZAR
22 February 2024	1 CUP = 0.7883 ZAR
23 February 2024	1 CUP = 0.7986 ZAR
24 February 2024	1 CUP = 0.8032 ZAR
25 February 2024	1 CUP = 0.8044 ZAR
26 February 2024	1 CUP = 0.8060 ZAR
27 February 2024	1 CUP = 0.8016 ZAR
28 February 2024	1 CUP = 0.7957 ZAR
29 February 2024	1 CUP = 0.8048 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