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Numismatic Change? / Reinaldo Escobar

March 20, 2014 in Bank Notes, Coins, Collecting, Currency, News, Numismatica, Numismatics, Paper Money, World Coins

By: Reinaldo Escobar. March 19, 2014 in Desde Aquí / English (http://desdeaquifromhere.wordpress.com/)

The much discussed Cuban dual monetary system, which has distorted the economy for more than twenty years, seems to be facing its final days. Among the few reports that have been released, it appears it will be the CUP–the Cuban or national peso–that will survive, and the CUC–or Cuban Convertible Peso that will cease to circulate.

In addition to the actual value of each of these currencies, they differ in that the differ in that if the CUP has a photo of a historical figure, the CUC has a sculpture of the same personage. Also on security issues, CUC far exceeds its alter ego.

The question we ask ourselves is whether there will be a change in the real value of money we earn as wages. How many hours will one have to work once the money is unified to buy a pound of spaghetti, a quart of oil or a beer?

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