Article
The Heads and Tails of Monetary Duality
Cuba Counterpoints: Public Scholarship about a Changing Cuba
(2016)
Abstract
For over two decades economic activity in Cuba has been formally bifurcated by restricting the access to and uses of two currencies – the Cuban Peso and the Cuban Convertible Peso (formerly also the US Dollar). These dual currency separations were instituted to protect state socialism from the politico-economic “shocks” of foreign direct investment during the Special Period as well as to safeguard the Cuban population from the adverse cultural and moral ramifications of market-oriented tourism initiatives. Since last year however, a process to eliminate the dual currency system has been put into motion, leading to the eventual death of the (in)famous Cuban Convertible Peso (CUC). Here, I take a look at currency iconography and its significance in understanding the political and symbolic sensibilities of the dual economy, as well as its long awaited demise.
Disciplines
Publication Date
2016
Citation Information
Mrinalini Tankha. "The Heads and Tails of Monetary Duality" Cuba Counterpoints: Public Scholarship about a Changing Cuba (2016) Available at: http://works.bepress.com/mrinalini-tankha/3/