CUC meaning in Regional ?

The convertible peso (sometimes given as CUC$ and informally called a cuc or a chavito) was one of two official currencies in Cuba, the other being the Cuban peso. It had 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 was to be scrapped. On 10 December 2020, it was announced that monetary unification would take effect from 1 January 2021. Since that date, the CUC is no longer accepted in many Cuban businesses; it could only be exchanged in banks or CADECAs (casas de cambios), or used in certain shops, for a six-month period. On 15 June 2021, it was announced that the CUC would remain exchangeable in banks for a further six months but that no shops would accept them from 1 July.