Olympic powerhouse in boxing

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Possible Answers:

CUBA.

Last seen on: NY Times Crossword 4 Aug 19, Sunday

Random information on the term “CUBA”:

The peso (ISO 4217 code: CUP, sometimes called the “national currency” or in Spanish moneda nacional) is one of two official currencies in use in Cuba, the other being the convertible peso (ISO 4217 code: CUC, often called “dollar” in the spoken language). There are currently 25 CUP per CUC.

Most Cuban state workers receive their wages in national pesos, but some receive a portion of their salary in convertible pesos. Shops that sell basic necessities such as groceries generally accept only national pesos whereas convertible pesos are much more commonplace in “dollar shops” which sell non-essential commodities and goods. The word “pesos” may refer to either currency.

Cuban convertible pesos are 25 times more valuable per face value. The hard (CUC) pesos are distinguishable from the national (CUP) ones, as CUC coins have an octagonal shape within the outer round rim. The only exception to this is the most common CUP coin, the 1 peso, also has this octagonal shape; while CUC currency shows monuments, and CUP bills have portraits.

CUBA on Wikipedia