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).
30/06/2015: Demonetization of old Guinean franc banknotes
The old series of Guinean franc banknotes, denominated in 'Syli,' ceased to be legal tender, and only the new franc banknotes remained in circulation.
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.
26/09/2012: Introduction of new Guinean franc coins
New coins denominated in the Guinean franc were introduced, replacing the previously used Guinean syli coins.
25/10/2011: Currency Unification Announced
The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.
30/06/2010: Revaluation of the Guinean franc
The Guinean franc underwent a revaluation, with 1 new franc being equivalent to 10,000 old francs.
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.
30/06/1997: Introduction of new Guinean franc
A new series of Guinean franc banknotes, denominated in 'Syli,' was introduced as a replacement for the previous 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.
30/11/1985: Devaluation of the Guinean franc
The Guinean franc was devalued by 50%, leading to an economic crisis and high inflation.
31/05/1971: Redenomination of the Guinean franc
The Guinean franc underwent a redenomination, with 1 new franc being equivalent to 10 old francs.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.
01/10/1959: Introduction of Guinean franc
The Guinean franc was introduced as the official currency of Guinea following its independence from France.