Three-peso notes were added in 1983. (The import/export of CUC is still forbidden). I will update the article accordingly to include that fact. The Cubans are too polite to say they’re no good to them. We also write about our passion for Cuba, from in-depth travel guides to myth-busting articles. Cubans who have saved CUCs are having a hard time getting currency exchanged and are taking losses to get rid of what will soon be entirely useless paper. of currencies other than USD. Still, the government defines the wages of the Cuban employees at the resorts. The scam is more about receiving CUP instead of CUC when exchanging your foreign currency. I’m really excited. The INTUR coins were demonetized on October 15, 2001 and were replaced by convertible pesos (CUC). Banknotes currently in circulation are 1, 3, 5, 10, 20, 50, 100, 200, 500, and 1000 pesos. Hi Kerrl, We always use the VIP Lounge when travelling home from Cuba. It meant that for international exchange purposes 1 CUC = 1 USD, but converting American money into Cuba money would have incurred a 10% fee on top of the current exchange rate. No worries, Alberto. (CUC is still a no-no). Denominations above 100 pesos were not continued. Often, people willing to make unofficial exchanges will pitch you on attractive offers: instead of the official rate of about 87 CUC for 100 USD, they’re willing to give you 100 CUC or even more. This type of bank account is new in Cuba and there still is some confusion about how to use it. In November 2015, they announced that their customers would be able to use their MasterCards in Cuba. Hi Lee, Purchase items at the airport, using foreign currency only (except for a Nauta card which can be purchased in CUC) and get only receive US dollars back as change? – The card can be used in “dollar stores” (home appliances and spare parts for cars) and to pay for bank services. complete guide on how to travel to Cuba from the US. You will have to pay in CAD. However, I would assume that you cannot use CUC because you are not allowed to pass CUC through the security checkpoint. Some resorts are managed by foreign hotel chains (such as Meliá) and the government just owns the property. The Cuban Convertible Peso is the currency of Cuba. Typically, local vendors in CUP use an informal exchange rate of 1 CUC = 22-23 CUP (the official exchange rate is 1 CUC = 25 CUP). Brace yourself: the use of CUC at shops and restaurants inside Cuba airports, including Havana Airport, was recently banned. Either way, I hope you enjoyed the article! I’m pretty sure I can buy them with my Canadian cash credit card. As a first-time traveler to Cuba, you probably have a lot of questions about the Cuban currency: What’s the deal with Cuba’s two currencies? In 1993, during the period of economic austerity known as the Special Period, the US dollar was made legal tender to encourage hard currency to enter the economy. Right off the bat, we can tell you that the Cuban currency system is super complicated to deal with as a traveler. [13] 200-, 500-, and 1000-peso notes were (re-)introduced in 2015. [14], Since 2011, and still valid at 2020, the official rate is 1:24 to exchange CUC cash for CUP and 25:1 the reverse. The Cuban Convertible Peso (CUC) is one of Cuba’s two official currencies and the one most frequently used by visitors. Regarding Tropicana, I don’t think that that price is accurate. At each CADECA office, you will notice a TV screen displaying the daily exchange rates, like this: Now, pay good attention because here is where things may get a little crazy. Going to Veradero I’m going to offer to buy all the loonies and twoonies on the bus so new tourists won’t use them for tips. Hi Nancy, Below, you'll find Cuban Convertible Peso rates and a currency converter. The 0.87 CUC that you get for 1 USD is already discounting the 10% currency exchange fee + 3% bank fee. You can certainly do transactions in CUP. You should always have the lower denomination bills to hand. I know there is a ban on the export of CUC, but what about bringing home small amounts of change in CUP? There are currently 25 CUP per CUC. That will make it all easier, right? Hello, Hello, thank you for this very helpful travel advice! Unless they were issued by a U.S. bank or a subsidiary of a U.S. bank. Will i be ok to enter the country with these CUC bills? What is the Best Currency to Bring to Cuba? Travelers will receive CUC’s at the rate of US $1 : CUC .83. [10] In 1891, the Treasury issued notes for 5, 10, 20, 50, 100 and 200 pesos. Hi jopar00, All the best hotels will exchange your dollars for CUPs. [citation needed], one of two official currencies in use in Cuba, along with the convertible peso, Banco Nacional de Cuba (National Bank of Cuba), Banco Central de Cuba (Central Bank of Cuba), source: Banco Central Cuba, Granma, February 27, 2002, Central banks and currencies of the Caribbean, Cuba new 200-, 500-, and 1,000-peso notes to be issued 01.02.2015, Cuba new 200-, 500-, and 1,000-peso notes confirmed, "The Story Behind the 1897 Cuban Peso and the 1898 Peso", "Central Bank announcement 12 March 2011", Japanese government-issued Philippine Peso, South Georgia and the South Sandwich Islands, Coordination of United Revolutionary Organizations, Cuban Revolutionary Armed Forces (MINFAR), Committees for the Defense of the Revolution, https://en.wikipedia.org/w/index.php?title=Cuban_peso&oldid=983398606, 1857 establishments in the Spanish Empire, Articles containing Spanish-language text, Articles with unsourced statements from November 2019, Articles with unsourced statements from April 2019, Articles with German-language sources (de), Creative Commons Attribution-ShareAlike License, $1, $3, $5, $10, $20, $50, $100, $200, $500, Conference between Antonio Maceo and Spanish General A. Martinez Campos at Mangos de Baragua (1878), Banana harvest and fieldwork ("Development of Agriculture"), This page was last edited on 14 October 2020, at 01:02.

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