The Cuban Convertible Peso, often abbreviated as CUC, was a currency used in Cuba from 1994 until its phased-out in 2021. It was designed to facilitate tourism and foreign trade, allowing visitors to exchange their currencies for local use. The CUC was pegged to the U.S. dollar, making it easier for tourists to understand its value. In 2021, the Cuban government announced the elimination of the CUC as part of a monetary reform aimed at simplifying the economy. This transition shifted the focus to the Cuban Peso (CUP), which is now the primary currency for everyday transactions in the country.