1 Peso

Cuba introduced this brass-plated steel peso in 1992 as a cost-cutting measure following the collapse of Soviet subsidies, which had been propping up the island's economy to the tune of roughly $4–6 billion annually. The loss of that support triggered the "Special Period in Time of Peace" — a government euphemism for severe austerity — and the coinage system was quietly debased as part of broader monetary contraction.

The dual-currency system that ran alongside this issue, separating CUP from the convertible CUC peso, was formally abolished in January 2021.