Counterfeit Currency – Not Just in the Movies

I had a run-in with counterfeit currency today. Every time I have paid for something in Peru, I have had my offered banknotes scrutinized: held up to the light and bent in several ways before they have been accepted. Now I know why. People will tell you how dangerous Lima is, including people you converse … Continue reading Counterfeit Currency – Not Just in the Movies

Two Currencies? CUCs and CUPs

Cuba works in 2 currencies, the CUP (moneda nacional, or cuban peso) and the CUC (convertible peso). Locals receive their salaries predominantly in CUPs, and use this currency to buy day-to-day goods. CUCs are used by tourists, and are 25x the value of a CUP. Like most stuff in Cuba, there is a rationale behind … Continue reading Two Currencies? CUCs and CUPs