Cuba Introduces New Banknotes Honoring Women Amid Ongoing Inflation

Cuba is rolling out two new high-denomination banknotes this week to ease cash transactions as the country continues to grapple with persistent inflation and economic hardship.

According to the Central Bank of Cuba, the new 2,000 and 5,000 Cuban peso notes officially enter circulation on Wednesday after being previewed on the government website Cubadebate.

The move is aimed at helping Cubans who have grown accustomed to carrying large bundles of cash due to rising prices. The new notes, valued at roughly four and ten US dollars respectively, are expected to reduce the physical volume of bills needed for everyday purchases.

Both banknotes feature prominent Cuban women.

The 2,000-peso note, printed in violet and pink tones, bears the image of Mariana Grajales, a key figure in Cuba’s independence struggle and mother of several independence heroes.

The 5,000-peso note, designed in blue, features Celia Sánchez, a guerrilla fighter and close collaborator of former President Fidel Castro.

Officials say the introduction of the new denominations will “facilitate cash transactions, respond to the real needs of an economy that demands large amounts of cash, reduce the costs of cash logistics, and improve operational efficiency during the current period of inflation.”

Until now, the highest denomination in circulation was the 1,000-peso note. However, rising inflation over the past two decades has significantly eroded purchasing power, making larger denominations necessary.