200 Pesos

Cuba printing its own high-denomination banknotes domestically is a relatively recent development — for much of the twentieth century, Cuban notes were produced abroad, including by the American Bank Note Company before the Revolution severed that relationship. Impresos de Seguridad, the state security printing facility in Havana, now handles the full series, though its output has historically been considered modest by international standards for security sophistication.

The 200 Peso denomination was introduced as Cuba's dual-currency system — the CUP alongside the convertible CUC — was already showing structural strain. The CUC was officially abolished in January 2021, collapsing the two-track system and immediately exposing the CUP to severe inflationary pressure. Notes from this series entered circulation into a worsening monetary environment.