Cuban Currency (CUC) Explained
Cuban Convertible Pesos (CUC)
Cuban Pesos (National Money)
US Dollars (USD)
Exchanging internacional currency for CUC
Current CUC Exchange Rates
Travelers Cheques
Credit Cards
Debit Cards
Transcard/Duales - Prepaid Debit
                      Card & Remittances
Emergency Cash Advances in Cuba
Cuban Convertible Pesos (CUC)
    What is CUC: As a visitor to Cuba, the Cuban Convertible Peso (CUC) is the currency which you will most widely use while in Cuban territory. CUC is not an international currency, but is valued (neutral rate) at 1.08 against the US Dollar. Buying/selling rates in Cuban financial institutions make the actual value for all non-commercial transactions and exchanges closer to 1.12 USD.
    Denominations: Multicolored bills: $1, $3, $5, $10, $20, $50, $100. Coins: $0.01 (rarely circulated), $0.05, $0.10, $0.25, $0.50, $1.00.
Cuban Pesos (National Money)
    CUP or MN: Cuban Pesos may be acquired at CADECA exchange counters, presently at a value of $24 CUP to $1 CUC. As a short-term visitor to Cuba, you will probably have very little use for Cuban Pesos, and the common custom among Cubans is to accept CUC directly for a value almost equivalent to the established CADECA CUP/MN rate.
    Denominations: Multicolored bills: $1, $3 (Che Guevara bill), $5, $10, $20, $50, $100. Coins: $0.05, $0.20, $1.00, $3.00 (Che Guevara coin).
US Dollars (USD)
    US currency no longer circulates in Cuba. As an international currency, it is accepted for exchange for CUC in financial institutions, but with a 10% penalty on top of the ~ 1.12 banking exchange rate (CUC-USD). To avoid the penalty, it is recommended to exchange your USD for any other internationally-accepted currency (such as Canadian Dollars, Euros, Swiss Francs, etc.) prior to arrival in Cuba.
Exchanging internacional $ for CUC   Top of Page
    What funds can you exchange for CUC: International cash currencies (divisas) accepted for exchange to CUC in Cuba:
      CAD (Canadian Dollars)
    CHF (Swiss Francs)
    DKK (Denmark Kroner)
    EUR (Euros)
    GBP (United Kingdom Pounds)
    JPY (Japan Yen)
    MXN (Mexican Peso)
    NOK (Norway Kroner)
    SEK (Sweden Krona)
    USD (United States Dollars)
    Best rates: CADECA exchange counters (banks & hotels have less favourable buying/selling rates) Where else can you exchange funds: Banks (BFI, Banco Metropolitano), and most hotel reception desks (usually at the least favorable rates).
Current Exchange Rates   Top of Page
    Note that the international CUC exchange rate varies depending on the establishment where the exchange takes place. We’ve been told that the airport Cadecas and some at higher-end hotels (with exchange rates displayed on a back-lit sign) have higher rates for exchanging foreign currency than at normal Cadeca counters or banking facilities, since they serve a captive audience with fewer lineups. However, to at least give you a general idea of current rates in Cuba, here's a currency calculator you can try.
        Travelers Cheques   Top of Page
          Travelers cheques are accepted in many banks (BFI/Banco Financiero Internacional or BM/Banco Metropolitano) and hotels (typically more so in larger cities) in Cuba. For US travelers, American Express Travelers Cheques are accepted at the BFI and BM and are exempt from the 10% surcharge penalty which is imposed for exchanging US cash. The exchange surcharge for travelers cheques ranges from 3 to 6%. BFI's present exchange rate is $100USD = $86.22CUC. Banco Metropolitano does not accept travelers cheques at any Havana branches. Those which are reported to have the most success are Thomas Cook and Visa, although in general travelers cheques are reputed to cause difficulty for the traveler in Cuba due limitations in where they can be negotiated, no possibility of replacing them in Cuba in the event of loss, and the exchange rates applied when cashing them in.
        Credit Cards   Top of Page
          Visa and Mastercard issued by non-US or non US-affiliated banks are widely accepted in Cuba. In installations which accept credit cards for purchases, the rate at which your card will be processed (CUC prices are converted to USD for processing) is 1.1124. Cash advance rates at participating CADECA exchange counters are processed at a rate of 1.1192. Cash advances are available also in some banks or ATM machines (providing you have a PIN # for your credit card). We are told that if using the ATM machines, only Visa will work.
        Debit Cards   Top of Page
          The system used for debit cards in Cuba is CABAL, incompatible with North America's Interac. Debit cards from some other countries in Europe, Australia, New Zealand and Latin America may function in Cuba. While bank machines are available in some major urban centers, we generally do not recommend relying on use of your bank card for monetary needs while traveling in Cuba.
        Transcard/Duales   Top of Page
          For prepaid debit cards or international remittances, please visit Transcard and Duales. You can use the cards in many establishments for meals, hotel bills, car rentals, cash advances at any BFI bank or CADECA change counter in Cuba. Many Cubans living abroad also use the cards as a means of forwarding remittances to family members in Cuba. They are also a safe and convenient solution for US travelers to Cuba who are otherwise unable to use credit cards.
        Emergency Cash Advances in Cuba   Top of Page
          We offer an exclusive cash advance service to our clients in Cuba. Should you require additional cash while in Cuba, our Canadian office can process your credit card for the amount you will require to be advanced in Havana, plus a 10% service fee. Cash advances are administered by our representatives in Havana upon confirmation of successful processing of your credit card in our Canadian office. Card presentation required, 24 hrs notice may be required..
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