Currency Policy: All payments must be made with pesos convertible (CUC). While in Cuba, you can easily exchange Euros, Canadian dollars, British pounds or Swiss francs for CUC. A "3 Step" process is required to ascertain how much money you need to purchase CUC.

Example:
1) $100 CUC - Determine amount of CUC
2) $112 USD - Convert to USD (multiply by 1.12)
3) Convert $112 USD to your funds CUC CURRENCY CONVERTER

Important: With the mandatory bank fees, $1.00 CUC = $1.12 USD (approx).

Euros: Accepted in the tourist areas of: Varadero, the Jardines del Rey Archipelago, Holguin, Santa Lucia Beach, in Camaguey, Covarrubias Beach, in Las Tunas, and Cayo Largo del Sur.

Non-US Currency: Simply exchange your Canadian dollars, Euros, Swiss Francs, or British pounds to CUC at the airport, exchange desk or hotel to CUCs (rates may vary slightly). When departing Cuba, you can convert back to the currency of your choice, but there are fees for each tranaction.

Non-US Credit Cards: You can obtain CUCs by requesting a cash advance when providing your non-US credit card.

US Visitors : Before arrival we recommend purchasing Canadian dollars, Euros, Swiss Francs or British pounds for exchange. USD are accepted but a 10% penalty will apply.

The 10% penalty was made necessary by the US pressure on international banks as reported by AP on Oct 25, 2005:

"The measure was tied to the U.S. Federal Reserve's decision in May to fine Switzerland's largest bank, UBS AG, US$100 million for allegedly sending American dollars to Cuba, Libya, Iran and the former Yugoslavia in violation of U.S. sanctions against those countries. UBS agreed to pay the fine without admitting the allegations."

Procedure: Currency exchange desks are set up in airports near the luggage carousel. In Havana's Jose Marti Airport, there is also an exchange counter in the public reception area and a bank on the 2nd floor. Throughout Cuba, any bank and most CADECA exchange counters will convert these four currencies.

When departing Cuba, you can exchange most of your CUCs prior to arriving at the airport as occasionally, your currency of choice may not be available. Remember to keep enough money for minor purchases and your departure tax of $25 per person.

Advice: Don't think of both currencies as pesos. Consider and call the convertible peso a "dollar" and the Cuban peso a "peso". Cubans call the tourist dollar a "chavito" and the Cuban peso "moneda nacional" or MN. In reality, very few tourists to Cuba will even encounter Cuban pesos. If you travel off the beaten track or are familiar with Cuba, you may indeed run into pesos. Admittedly, the use of the "$" sign for both pesos and dollars can occasionally be confusing. I've paid one dollar for an orange juice in Old Havana and one peso (1 nickel) for orange juice in the country. Both would be marked as $1 (CUC should have 2 vertical lines, while the peso only has 1). However, if in doubt, it's advisable to ask whether the price is dollars or pesos.

Page updated: 23 January 2007