Central Bank of Cuba Issues New High-Denomination Bills

The Central Bank of Cuba (CBC) will put into circulation high-denomination banknotes from next February 1st with  valueS of 200, 500 and 1000 Cuban pesos (CUP), as reported by Granma newspaper.

The measure aims to facilitate CUP operations carried out in the stores that sell in convertible pesos (CUC) noted the information.

The Vice President of the Central Bank of Cuba, Francisco Mayobre, recalled that in recent months the use of CUP has seen an increase in the usage of the CUP in the stores that sell in CUC.

‘That, of course, involves manipulating a larger amount of money, not only for individuals but also for businesses and transport operators,’ said the manager and assured that with these new bills this problem decreases.

The director of Issuance and Values of the CBC, Ariel Torres, explained that the size, format and location of the elements of identification and security of the new banknotes are similar to those of the currently circulating.

Among the new security features the official said that a variant of the security thread is introduced, easily identifiable owing to a windowed design, and where the denomination can be seen.