CUC stands for Cuban Convertible Peso, a currency that was used in Cuba alongside the Cuban Peso. Introduced in 2004, the CUC was primarily aimed at tourists and foreign investors, allowing them to conduct transactions in a currency that was pegged to the U.S. dollar. In 2021, the Cuban government announced the elimination of the CUC as part of a monetary reform, transitioning back to a single currency system using the Cuban Peso. This change aimed to simplify the economy and improve financial stability in Cuba.