The Cuban Peso is the official currency of Cuba, abbreviated as CUP in forex markets. Cuba previously operated a dual currency system with the Cuban Convertible Peso (CUC) alongside the CUP, but unified to a single currency in 2021. Due to Cuba's economic restrictions, the CUP is not freely traded on international forex markets and is subject to government-controlled exchange rates.
Example
“After Cuba unified its dual currency system in 2021, the Cuban Peso (CUP) became the sole official currency, and the previously used Cuban Convertible Peso (CUC) was phased out at a government-set exchange rate.”