Question: Re Cuba’s new exchange rate: (1) will a US $100 bill receive CUC 90? (2) What will a US $100 Travelers Cheque receive? (3) Are other foreign currencies besides the US$ subject to any penalty beyond the ongoing exchange rate?
Answer: Under Cuba’s new exchange rates, which went into effect on March 14, 2011, the 10 percent fee for buying CUCs with U.S. dollars in cash remains in place. For example, the exchange rate for today (March 22nd) is US $1.03360 to buy CUC 1. This means that for US $100 you will receive just under CUC 90.
For Travelers Cheques, there is an approximately 14% commission charge on top of the normal exchange rate.
Foreign currencies besides the US dollar are not subject to any additional charge beyond the ongoing exchange rate.
For information on websites for Cuban banks where you can obtain up-to-date exchange rates, please consult the reply to the question: How have the new exchange rates (March 14, 2011) affected the Pound Sterling?