What currency should I take-What currency to use

Cuba's national currency is the Peso (Cuban Peso)

Cuban Peso

It’s the legal currency of the Republic of Cuba and each Peso is divided into 100 cents. It is used by most citizens of the country for their everyday transactions.

Convertible Peso (CUC)

This is the currency officially used by tourists during their stay in CUBA. Once abroad, the Convertible Peso has no exchange value.

Payment options

Only convertible pesos are accepted. Payments made in establishments operating in free convertible currency in Cuba will be made in Convertible Pesos, although Euros are increasingly accepted in authorized tourist resorts such as Varadero, Jardines del Rey, North of Holguin, Santa Lucia Beach, Covarrubias Beach and Cayo Largo del Sur.

More information on convertible pesos and Euros

Currency exchange

The currency exchange is performed both in bank offices and Money Exchange Offices, better known as Cadecas. The exchange rate is fixed every day by the National Bank of Cuba. The actual exchange is not always applied daily at the Cadecas, although the difference is often minimal.

CADECAS are spread throughout the country and has offices in most large hotels.

Do not confuse the hotel CADECA with the hotel reception Cadeca. They are different entities, although both will exchange your money. The hotel reception may provide exchange services, but an extra charge of about 3% is applied to all transactions.

You may well encounter people offering informal exchange in the street. While rates may seem favorable, unless you’re familiar with the size and design of current Cuban banknotes, it’s a service probably best avoided.

What currency should I bring

The most favorable currencies to carry are the:

  • British Pound
  • Canadian Dollar
  • Euros

Try and stay updated with current exchange rates before you arrive and take into account not only the rate, but also the charged fees for exchanging your our currency on arrival.

The Dollar

The exchange of dollars for CUC is 10% penalized (October 2014)

The Euro

Establishments on the island are more and more accepting of Euros as payment for products and services, especially in hotels, restaurants etc. Some years ago, it was just in the most touristic areas such as Varadero, which allowed payment in Euros and now seems to have spread across the country. Yes, we must take into account the exchange rate applied to each transaction, which is usually lower than the one published, and in some cases, a penalty may be applied to the exchange rate.