Cuban peso encourage hard currency to enter the economy. The US dollar became the currency used to purchase some non-essential goods and services, such as cosmetics, and even staple kinds of food and drink. In 1994, the convertible peso was introduced at a par with the dollar. On November 8, 2004, the Cuban government withdrew the US dollar from circulation, citing the need to retaliate against further US sanctions. In 1897 and 1898, pesos were issued by revolutionary forces promoting independence. In 1915, cupro-nickel 1, 2 and 5 centavos, silver 10, 20 and 40 centavos and 1 peso, and gold 1, 2,
Portuguese Timorese escudo banknotes, below) may have been due to the exchange rate from the previous currency. The 10 and 30 centavos were struck in bronze, the 60 centavos and 1 escudo in cupro-nickel, and the 3 and 6 escudos in silver. In 1964, a silver 10 escudos was introduced, followed, in 1970, by more conventional denominations of 20 and 50 centavos, 1, 2½, 5 and 10 escudos. The 20 and 50 centavos and 1 escudo were struck in bronze, with the higher denominations struck in cupro-nickel. The first banknotes, dated 1959, were in denominations of 30, 60, 100 and 500 escudos. In