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,
Global silver trade from the 16th to 18th centuries to coins in the early period of the Ming Dynasty. The Ming paper currency eventually failed due to self-imposed inflation along with an inability to stop the production of counterfeit bills. The Ming attempted to produce copper coins as a new form of currency, but production was inconsistent. Hence silver became of high value because it was a valid currency that could be processed abroad. The bimetallic ratio of silver to gold was about two to one, which meant that European and Japanese merchants made a large amount of profit. In the 1640s, the bimetallic ratios in China converged with