Exchange 1 CAD to CUC - 1 Canadian Dollar to Cuban Convertible Peso
The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents (¢). Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French. Accounting for approximately 2% of all global reserves, the Canadian dollar is the fifth most held reserve currency in the world, behind the U.S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, and the stability of the country's legal and political systems.
The convertible peso (sometimes given as CUC$ and informally called a cuc or a chavito) is one of two official currencies in Cuba, the other being the Cuban peso. It has been in limited use since 1994, when its value was pegged 1:1 to the United States dollar. On 8 November 2004, the U.S. dollar ceased to be accepted in Cuban retail outlets and left the convertible peso as the only currency in circulation in many Cuban businesses. Officially exchangeable only within the country, its value was increased to US$1.08 in April 2005, but reverted to US$1.00 on 15 March 2011. The convertible peso is, by the pegged rate, the twelfth-highest-valued currency unit in the world and the highest-valued "peso" unit. On 22 October 2013, it was announced that the currency is to be scrapped, with it being gradually unified with the lower-value Cuban peso, though as of August 2018, that unification has not been achieved, nor has any target date been officially announced.
1 Canadian Dollar to Cuban Convertible Peso exchange rates chart
1 CAD to CUC Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.
1 Canadian Dollar to Cuban Convertible Peso Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.
Following a mixed week for the Canadian Dollar, the British Pound to Canadian Dollar (GBP/CAD) exchange rate plunged on Monday as investors reacted to a surge in oil prices, as well as some concerning Brexit speculation