If you think that Cuba, as it is an 3rd world island lost in the caribbean, it is cheap? WRONG !
There are many things that you should know about the cuban currency.
You have probably heard that in Cuba there is a special money for tourists and an other one for the cubans. Well, it is a little bit more complicated than that!
– In this article, we will talk about- :
To start, Cuba government has 2 different currencies:
- The CUP (Cuban Peso) : Available in bills of 1, 2, 3, 5, 10, 20, 50 and 100. 250, 500 and 1000.
- The CUC (Cuban Convertible Peso) : Available in bills of 1, 2, 3, 5, 10, 20, 50 and 100. Take in account that if you want to use the 50 and 100 one, you should have your password with you. Always! it is a lot of money for them.
1 CUC = 25 CUP
1 CUC = 1 $
1 CUC = 0.88 €
IMPORTANT: Always check the bill, to be sure that you are not giving a 10 CUC instead of a 10 CUP. You recognize it because in the CUP, there is always a face on it, whereas in the CUC there is a monument.
As a tourist, you will use mostly use the CUC, but not only! For advice, to pay the rent, the transportation, the medecine and the touristic restaurants, you will use the CUC. But to buy fruits, vegetables, things in the typical cuban shops or in the streets, etc. you will be able to pay also in CUP. This is why, it is very important to change your money in BOTH currencies.
To make it clear, tourists and cubans CAN use the CUC and the CUP. Just be aware of not giving 25 CUP instead of 25 CUP (25 CUC is 625 CUP!)
First, you have to change it in the Cuban airport. In fact, you also can change a large amount in it, the equivalence is the same everywhere. (remember, you are not in a capitalist country!)
You will have to wait to arrive to Cuba to change it because it is impossible to change it outside of Cuba. Also, think about changing from cuban currency to your money before leaving the island.
- The best and official place to change the money is in a CADECA :
These are Exchange Offices that will always have change for the CHF, EUR, GBP, JPY, MXN, USD. Then, you can change it in the hotels, ports and airports for the CAD, CHF, EUR, GBP, JPY, MXN, USD
- You can also change it in the BANKS, but is wont always be sure 100% that they will have the currency.
IMPORTANT: Changing $ USD cash into CUC incurs a 10% fee. You won’t be able to take off money if your bank is American.
This is it! You are ready for your trip If you have any other questions about anything else, don’t hesitate to CONTACT US.