CUC:HOLD PT.1

The Cuban Convertible Peso (CUC) is the newest member to the obsolete currency club and pictured above is a new Broken Banknote piece in development. This is an early stage of texture and currency application, that I usually show in video form. This represents a very raw look at the process and may be the way I document this particular BBN piece, going forward. Here we can see the currency interplay and texture up close and personal. Adulterated only in form through tearing and re-laying out, no color has been applied.

Wait ...
A somewhat controversial, dual monetary system was set up in Cuba in the 1990's to combat exchange rate disparity. The Convertible Peso or CUC was created and set to a 1:1 parity with the US Dollar. It was used primarily by tourists visiting the nation. This dual system of payment created many unforeseen outcomes, including a rise in intellectual property drain from institutions as workers in the service sector had greater access to more valuable pay than the government offered its political and scientific leaders, using the National Peso. In 2021, the Cuban government began currency unification, converting the CUC back to the national Cuban Peso. It was to be complete by June, but was extended until the end of the year.

How?
These have been very difficult to find. In truth, I have been working on this concept for a while, scouring the globe for actual circulated notes. 20 months ago, my friend Dan in Chicago got me started with several of his personal notes from his recent visit. The rest were sourced from private collectors and currency dealers in England over the last year or so. When they announced the unification process, the narrative and story finally fit the Broken Banknote ethos and it became time to create.

I will write more on the issues and troubles this dual system has caused and continue showing pictures of the work in progress in future posts. For now ...let's welcome the Cuban Convertible Peso to the global club of valueless paper currency.