Currency & Related Matters

Money can be changed in Cuba at either of two official institutions: Banks and Casas de Cambio (CADECA or exchange booths), both of which are found throughout the country. It is important to use these institutions whether you are exchanging foreign currency for the Cuban Convertible Peso (CUC or peso convertible) or CUCs for Cuban Pesos (CUP, moneda nacional or just plain peso).

In November 2004, Cuban authorities took US Dollars – and all other foreign or “convertible” currencies – out of circulation in Cuba. All these foreign currencies, however, including US Dollars, are still accepted within the country as currencies of exchange for CUCs (Cuban Convertible Pesos) at banks and CADECA (Casas de Cambio or official exchange booths).

Cuba is just like most countries: upon arrival or soon thereafter, you exchange your foreign currency into local currency. In Cuba, there are two currencies, pesos convertibles (Cuban Convertible Pesos, designated as CUC and sometimes called divisas) and the Cuban peso, also called moneda nacional (national currency, designated as CUP). Many Cubans refer to both as pesos and both are often denoted by $, the dollar sign.

Yes. If you’re bringing credit cards, make sure they’re payable against banks that do business with Cuba. Usually your bank or credit card server can provide this information in response to a direct question. Cuba won’t accept credit cards paid against US banks as, to date, the US banks don’t pay.

The CUC (peso convertible) is not tradable on the international market, so it’s difficult to get information on exact exchange rates. However, there are some ways to get approximate rates on Internet.