20 Pesos

By 1991, Cuba's peso had been structurally isolated from hard currency for years, and the collapse of Soviet subsidies was already forcing the island into what Havana would officially call the "Special Period." Notes like this one were printed domestically in terms of function but manufactured abroad — the contract with China Banknote Printing and Minting Corporation reflected both the end of Soviet printing arrangements and the limited options available to a sanctioned economy.

Watermarking remains the sole listed security feature, a notably spare specification for the period. Cuban peso notes of this era saw genuine mass circulation under conditions of acute shortages, and heavily worn survivors are the rule rather than the exception.