The Cuban Peso (CUP) is the official currency of Cuba. It is used primarily by the local population for everyday transactions and is often referred to as the "national peso." The currency has been in circulation since 1857 and is issued by the Central Bank of Cuba. In recent years, the Cuban economy has undergone changes, including the unification of its dual currency system, which previously included the Cuban Convertible Peso (CUC). The CUP is now the sole legal tender, reflecting efforts to simplify the economy and improve financial stability in Cuba.