Investopedia

Continue to Site »

CUP

Filed Under » ,
Dictionary Says

Definition of 'CUP'

The ISO 4217 currency code for the Cuban peso, one of two official Cuban currencies. The Cuban peso (CUP) is the national currency of Cuba and is used by Cuban nationals. The CUP's subunit is the centavo. CUP coins are minted in 1, 2, 5, 20, 40, $1 and $3 denominations. Banknotes are printed in $1, $3, $5, $10, $20, $50 and $100 denominations. The CUP is issued by the Central Bank of Cuba.
Investopedia Says

Investopedia explains 'CUP'

Cuba's other currency is the Cuban convertible peso, which is represented as CUC. The CUC is considered the "tourist dollar" because it is tied to the U.S. dollar and generally traded/used by Americans within the country. In November 2004, the American dollar ceased to be accepted by Cuban businesses. The country withdrew the dollar in retaliation for continued U.S. sanctions.

The currency market, also known as the foreign exchange market, is the largest financial market in the world.

Articles Of Interest

  1.

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.

  2. The Currency Board: Understanding The Government's Bank

    Currency board, central bank - what's the difference? Find out more about this little-known monetary authority.

  3. Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.

  4. What Are Central Banks?

    They print money, they control inflation, and much, much more. All you need to know about central banks is here.

  5. A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.

  6. The Yen Is Setting Up To Be An Attractive Long-Term Investment

    As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013?

  7. 3 Costly Spelling Errors

    History has proved that some spelling errors can cost companies and governments millions of dollars.

  8. The Most Counterfeit-Proof Currencies

    The IACA awards provide some of the best insight into the currencies that are proving the most difficult to fake.

  9. An Introduction To Complementary Currencies

    There are alternatives to national currencies. Discover complementary currencies and how they work.

  10. The Origins Of Common Currency Symbols

    Check out some of the world's most heavily traded currencies and their origins.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center