The official exchange rate was pegged at 24 to $1 USD as of March, 2022. Most of the labor force is employed by the state. To author: On June 15 the Cuban government extended the date by which the CUC needed to be converted to CUP. In turn, this made possible the sales of rationed goods to the public who earned salaries in the order of CUP 500 a month (worth only US$20 at the cash exchange rate, but could buy as much as US$500 worth of imported rationed goods, should they be available). The situation on the ground changes quite regularly, but anything non-Govt is definitely foreign currency. One thing that I am sure of is that the hotel rate was usually a little higher than the bank rate (if you have a bank near you (dont forget your passport if you use the bank)). XE's free live currency conversion chart for Cuban Peso to US Dollar allows you to pair exchange rate history for up to 10 years. In 1969, aluminium 20 centavos were introduced, followed by aluminium 2 centavos and brass 1 peso in 1983. The exchange rate in Cuba is NOT skewed in favor of the Canadian Dollar. perhaps they will enjoy an upward swing in trade? We have dual Canadian/British citizenship. You are allowed to take home with you up to 5,000 CUP. The government in Cuba controls more than 90 percent of the country's economy, rationing worker's salaries in exchange for the free healthcare, education, and low cost transportation and housing. Is this correct or am understanding the conversion wrong? Three women who claim Cuba Gooding Jr. sexually abused them including one upset she never got her day in court when . But opting out of some of these cookies may affect your browsing experience. I am shocked that you did not include the Canadian dollar as a currency US travellers should take to Cuba. A visitor can acquire a MLC card and use it at any government establishment where goods and services are priced in MLC. A couple additional points. But now, the exchange rate difference is marginal, and it seems that the Cuban Government wants to catch up with the informal market. Pound is from 110-125 CUP. They are not transactional rates. Tools. Just to follow up on this, a recent customs regulation states that you can import/export CUP up to 2,000. So ready? In Varadero, the flea market accepted dollars, euros, and pesos to a lesser extent. From 2004 to 2020 a 10% penalty or tax was applied when changing U.S. dollars to CUCs, which can be avoided by exchanging other currencies in Cadecas. Here are some suggestions as to how you can do that. Perhaps, you will want to keep 25-50 CUP to buy the NAUTA card to. In 2017, the Banco Central de Cuba introduced bi-metallic 5 pesos coin (the difference is the denomination and composition (with a cupronickel ring and a brass center plug). in the amount of 200 USD, 500 USD, and 1,000 USD. But dont panic. That official exchange rate (scroll back up to remind yourself) of 24 CUP to the US$ was set in 1994. This is the Cuban government agency set up to help Tourists. Hi Michael, If you want to get cash, you can withdraw money from Cuban ATMs using either a debit card or a credit card. If you want to leave tips in CUP, how do you get CUPs? Can US debit cards be used in Cuban ATMs? Hello, thank you for this very helpful travel advice! It is easy to buy Cuban currency on the black market. You can exchange these currencies at official government exchanges or on the street. The convertible peso was also divided into 100 centavos. Thats why so many Cubans are eager to get into the tourism industry. Youll get a much better rate by exchanging money with a trusted person in Cuba than anywhere else. Customers of Venmo, PayPal and CashApp should not store their money for the long term with these apps because their . Hi The INTUR coins were demonetized on October 15, 2001[citation needed] and were replaced by convertible pesos (CUC). Hi Zla, The cookie is used to store the user consent for the cookies in the category "Other. Im not replying to Sandra, but cant see any other way of making a comment. I have been to Cuba many time, but with Covid wont be going till 2022. State companies were dis-incentivized from earning foreign exchange, but the public was incentivized to spend on subsidized imported goods. The withdrawal of CUC started on January 1st, 2021. Thanks! Xe Historical Currency Exchange Rates Chart, Jun 3, 2023, 07:42 UTC - Jun 3, 2023, 07:42 UTCCUP/USD close: 0 low: 0 high: 0. Take into consideration all the extras for which you'll need cash, such as non-included meals, taxies, souvenirs, and guide and driver tips. But the more i hear regarding the currency, the more my head hurts So roughly how many bars, restaurants in Old Havana accept credit cards? Since locals cannot deposit 1s in the bank, for payments and tips less than $5 it's better to use CUP. I suggest tipping at least one pound or one euro. Airport authorities will likely confiscate any amount over that limit. You would get around 0.73 CUC for 1 CAD. Although you can use CUPs in facilities at Cuba airports, we recommend you exchange your leftover Cuban pesos before checking in at the airport because: Perhaps, you will want to keep 25-50 CUP to buy the NAUTA card to get Cuban WiFi at the airport. Thanks. : Casaa, Bus, train, collective, I am guessing will want / prefer foreign currency or the MLC card? At the beginning of 2021, this parallel currency system, which often led to confusion, was fortunately abolished. The airports official exchange box told me, that you are not able to sell CUP even at the bank. The only currency that has an extra exchange fee is the US dollar. The bank wouldnt replace your card if you lost it. The Peso Notes: The Cuban currency notes are made up of $1, $3, $5, $10, $20, $50 and $100. You must use CUPs to cover most of your trip to Cuba costs. Cuba has a single currency again, the Cuban Government is taking steps to get foreign currency back into the official mechanisms of the country. You can change Canadian dollars, British pounds sterling, Japanese Yen, Swiss Francs, Euros, and Mexican pesos in Cuba. Sometimes, cruisers prefer to spend little time in Havana and visit Viales or Varadero, which are nearby cities. In 1881, the peso was pegged to the US dollar at par. 1US = .87 CUC => minus 10% + 3% plus some other fees that are approx. Get a Cuba Travel and Medical Insurance Quote from Visitors Coverage here Alternatively, Civitatis Insurance is a great option for the required insurance for Cuba.You will need a Cuba Tourist Card to enter Cuba some airlines include these, if yours doesnt, buy one from EasyTouristCard now valid for 90 days.Book your Viazul Bus tickets herePre-book and prepay shared & private shuttles hereBook the best FREE Walking Tours in CubaReserve attractions, day trips, and activities in Cuba hereDownload and install a VPN BEFORE you travel to Cuba > discount coupon hereBook Accommodation in Cubas Casa Particular herePack these Items youre unlikely to find them in CubaA filter water bottleHand SanitiserSunscreenMosquito RepellentTravel / Power AdapterFirst Aid Kit. Bring cash to cover most of your expenses in Cuba. Do they have to give members warning before they bar you? By changing your foreign currency at an official Cadeca the government exchange houses. However, keep in mind that Cuba is still primarily a cash country. Exchange money with a trusted person in Cuba. All foreign exchange rates, including those set by the Cuban banks ATMs that you will use, are set by the Cuban government. All the best hotels will exchange your dollars for CUPs. Unfortunately, I dont think can exchange Cuban Pesos in other countries. export more than 5,000 CUP anyway. A satellite image of Hurricane Ian as it approached Cuba in September. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. I updated the article to clarify how to calculate how much CUC you will get when you buy them with foreign currency. Watch out for tourist card scams. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 15 vacations in Cuba, you will love it Senny. The only official currency in Cuba since January 1, 2021 is the CUP ( Cuban Pesos ). AllCUP notes or bills have the faces of famous leaders. If you are staying in a casa particular (which we seriously recommend), then they are unlikely to accept credit cards. You will incur an 8% bank fee when selling your USDs in cash to the Cuban Government, higher than the standard 2% for other foreign currencies. Because the US value has increased so much in the black market, some travel businesses may accept US dollars. The exchange rate that youll be offered will also depend on how much the person wants your dollars, pounds, or euros. Bilateral Economic Relations. I am traveling to Cuba from Ireland next week. You also have the option to opt-out of these cookies. If you cant take more then 2000cup home You cant exchange it at cadecas. The Cubans CAN use the Canadian loonies and twoonies . How co2 is dissolve in cold drink and why? I.e. Sarah's an avid reader and traveller and loves exploring the culture of Cuba through food, drinks, hiking trails and hidden corners. If you have an American ATM card it will not work in Cuba. Every single Cuban you meet wil lbe more than happy to help you out. I still have 6000cup who will change it back to Canadian dollars..the banks wont doit. Travel Money issued by Visa are accepted, although they are highly cumbersome. The Soviet Union's collapse in 1991 resulted in a Special Period of difficult economic adjustments for Cuba. Trip Cuba is an organization of Cuban agencies whose objectives are: If you are a travel agency or tour operator and you are looking forward to any assistance or collaboration to plan trips to Cuba, rely on our extensive experience. The digital currency is called MLC (moneda libremente convertible). Hi Coolshooz, We havent heard of any other fee charged by the official currency exchange offices in Cuba. Obituaries Acceso USA Cuba Amid confusion, Western Union says Cuban Americans can still send money to Cuba By Nora Gmez Torres Updated June 12, 2020 6:13 PM The Trump administration on. Using money in Cuba is indeed very confusing. You must use Cuban Pesos for most of your expenses in Cuba. If I am correct, it is best to take GBP and exchange this to to CUP, at the currency exchange, in the airport? I paid in usd. We are just pointing out the risks and the alternatives. Only Cuban residents can spend US dollars to buy from the so-called dollar shops. You cannot pay in MLC because this digital currency is reserved for Cuban residents. You will need your passport to acquire a prepaid card. Staying in airbnb properties. You should check with your bank BEFORE you travel and always have a backup plan. Im coming In December 2021.. Hi Mary, Article needs updating for the June 21, 2021 changes. Scan me! FILE - The Venmo app is displayed on an iPad on March 20, 2018, in Baltimore. The date on the top of the page was March 02, 2022. But thanks to an embargo by. Actually, according to a recent customs regulation, you can import and export sums of up to 2,000 CUP. These are the most widely accepted by locals therefore they can be used to pay directly to businesses or to exchange for CUP. Besides, the Cuban customs wouldnt have allowed you to bring your CUCs anyway. We dont feel that weve been ripped off at all, but we always take a few precautions. One way around this, if youre not comfortable carrying wads of cash around is to prebook and prepay for your activities, accommodation, and transport. Can I buy an MLC Card in Cuba as a foreigner? In Cuba, credit cards are only really used at high-end establishments or for buying and pre-booking activities before your arrival. If you take a state-owned taxi, you must pay in Cuban Pesos. Mohito in National hotel 150 CUP IN private 6euros plus 10% which they dont know how to count. For example, if you pay in CUC for a hotdog that costs 10 CUP, you will get back about 12-13 CUP. Any idea if this is legal? Period. Each vendor have a machine for payment. Other way you will be charged as you use US dollar converted to your currency(CAD, Euro). Tourists can buy prepaid cards to pay for goods and services at certain hotels, restaurants, and retail stores. Im heading over there in a couple of weeks. When you pay in CUC you should get back CUC. Table of contents What is the Cuban currency? What is the word that goes with a public officer of a town or township responsible for keeping the peace? However, youll want to be sure you have a backup of cash. However, you can tip in CADs. The Cuban Peso aka the CUP. MLCs are mostly reserved for Cuban residents. Some articles may contain affiliates links at no cost to you. CUCs were pegged at US$1 to the CUC but were exchanged with the public at a rate of 24 to buy and 25 to sell. A private walking tour? This is the Cuban centre of economics. We used to tip in dollar bills several years ago so are these still welcome or not? In this case, you would get 1.13 EUR for 1 CUC. They are very flexible, especially with tourists. Buy Cuban Pesos from the Cuban official currency money exchange CADECA, Take Less Cash to Cuba by Prebooking and PrePaying Online, Always know the exchange rate when changing money, Always count any change when paying for something, Always confirm a price upfront for goods or services, Be able to tell the difference between CUP and CUC. The Cuban economy was described as "dual-track", with the majority of citizens earning only CUPs and dependent on subsidized goods from ration stores, and with a minority earning much bigger salaries in CUCs and foreign exchange by catering to tourists. The hotel will sell you CUP, but not buy it back. Buy yours here there are a host of different options! Best Answer Copy Cuba 's official currency is the Cuban Peso. We updated the article to clarify your great points. Cuban ATMs dont accept debit/credit cards issued by American banks. We will be staying at the Ocean Vista Azul. I would change a minimal amount upon arrival then when checking in to my casa paticular check with the owner and they almost always would know a reliable money changer to get a better rate. Therefore, they will charge your credit card and exchange your home currency for Cuban Pesos at the official exchange rate. They say In most places you can divide the peso price by 80 to 100 and pay in dollars. Understanding Cuban Money March 7, 2023 | by Lucy Davies More than 2 years have passed since Cuba got rid of its dual currency system. SHARE A classic 1959 White Cadillac In Veradara, Cuba. Cuba is the largest island in the Caribbean Sea. 2. They can only change your money for the government rate. These were the last silver coins issued for circulation. So we are not allowed to bring Cuban money into Cuba, we have to get it exchanged when we arrive @ our resort correct? Viazul is purchase only by card these days (although you can always find an exception). I advised him to take american 1$ bills, a small amount of canadian 1$ and 2$ coins, and the rest of money in canadian 5$ bills. Credit cards are not accepted in many Cuban businesses, and you may find that the card machine isnt working unless you are staying in a high-end resort or visiting high-end restaurants. The Cubans are too polite to say theyre no good to them. There are ATMs in Cuba. ps. Im going in January and Im curious as I collect coins and bills from all over the world, and would like a couple for my collection. Credit cards wont work everywhere. The son of impoverished . Often, people roaming around will pitch you attractive offers. These currency charts use live mid-market rates, are easy to use, and are very reliable. You CANNOT exchange Irish or Scottish pound notes in Cuba. And we said that too in the article. Hi, wondering where is the best place to exchange CUP for foreign currency when leaving the island since the cadeca in the airport only buys but doesnt sell foreign currency. You cannot use CUC either because it was eliminated in 2021. 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 Castro government then introduced the socialist planned economy and pegged the peso to the Soviet ruble. I have US dollars. Hi, Larry! To answer your questions: Crista. Confused yet? About to head to Cuba in two weeks. You can reload the prepaid cards any time you need. If you are staying at a higher-end hotel then they will accept credit cards. We have been quoted taxi fares in US $? Check live rates, send money securely, set rate alerts, receive notifications and more. You will be fine with the Mexican Peso. The CUP is available in bills of 1, 3, 5, 10, 20, 50, 100, 200, 500, and 1000. Live tracking and notifications + flexible delivery and payment options. And coins can be a problem in some areas. You can buy them with foreign currency (but NOT US dollars) or with a foreign credit or debit card (but not cards issued by US banks). In January 2023: Before you board the plane to Cuba, make sure to check the updated Cuban currency exchange rate on CADECA and El Toque. This cycle came to an end in October 2004 when the government forbid payment in US dollars, leaving only the CUC as the official currency of payment until the recent transition permitting payment in CUP at some businesses. in US dollars? I will go back and carefully verify your advice with others that I know in Cuba to find out the actual situation with US dollars. We have a US bank account so did not have to exchange Canadian money into US as we just took it from the US account. What Is the Cuba Exchange Rate for Money Used in Cuba? Coins are to difficult to count and, because of their weight, too difficult to handle. Unfortunately, I dont think you can exchange AUD to CUC CADECA accepts only Canadian Dollar (CAD), US Dollar (USD), Swiss Franc (CHF), Euro (EUR), Pound Sterling (GBP), Japanese Yen (JPY), and Mexican Peso (MXN). Cubas currency changed in 2021 when the Cuban government finally ended the dual currency system that has been in place since 1994. Hi David, Travel protection benefits such as trip interruption and cancellation, baggage delay insurance, etc., are not required. Really useful information here. 28 Extraordinaria de 2022. 2023 Cuban Currency & Money in Cuba Guide [Update Jan 2023], Cuban Currency in 1993: Legalising the US Dollar, Cuban Currency in 1994 adding the convertible Cuban Peso CUC, Cuban Currency Changes in 2021 the removal of CUC. Money & Credit Cards in Cuba From now on, it is also possible to purchase prepaid cards to make purchases in the so-called dollar stores, where cash payments are not accepted. Thanks. Coins currently in common circulation are 5 and 20 centavos and 1, 3 and 5 pesos; 1 and 2 centavo coins are rarely seen (due to their tiny value) but are still valid. Good luck. You'll be paying an exchange fee to do so when U.S. Exchanging it on the black market, or with your Casa Particular Owner, or Taxi Driver. They also have pesos convertibles printed on them. Therefore it's important to check out the latest currency exchange rate for Australian Dollar to Cuban Peso before purchasing the Peso you require for your next trip from Australian Dollar to Peso Exchange Rate Today. My preference was always to get help from my host at the casa paticular some of them I would give money to and they would get it changed for me others would invite the person to the house and we did it there never have been cheated doing this. 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. [7] The secret to these dealings it to simply take your time and never be in a rush. This is a common, but not legal, practice. However, the 1905 banknotes were not issued (source: Pick's catalog) In 1934, the Government introduced silver certificates (certificados de plata) in denominations of 1, 5, 10, 20 and 50 pesos, followed by 100 pesos in 1936 and 500 and 1000 pesos in 1944. Foreign currencies (especially USD and EUR) are also widely used. They would receive 24 Cuban Pesos (CUPs) for each 1 CUC. At the time we last updated the article, the Cuban airports were only giving change in US dollars. It is important to mention that the exchange of U.S. dollars to Cuban pesos is NO longer subject to a 10% tax; as it was a measure repealed in July 2020. You legally werent allowed to take cuc out of cuba, so i doubt theyd have any allowances yur stuck with them. Euros and British Pounds are still the best currency to bring to Cuba, if you use the official channels to exchange the money for Cuban Pesos. Generally, the Cuban currency exchange rate is not likely to change often. Are still the best to take? Its best to confirm with your current credit card provider if they have experience with credit cards and Cuba. Hi Vanessa, (and its not just for the dollar, its for the Euro, GBP, and Canadian dollar too). We always use the VIP Lounge when travelling home from Cuba. My question regards sending money from Spain to adopted family in Havana. Hi !Never sure what is required!! Today there is a high level of foreign currency that is entering the country that is not being captured by the national financial system,. Just want an idea of how much money i will need to to change. 80 or 90 cup lets that waiter make a few bob for themselves, they have families to feed too. We can tell you that the Cuban currency system is d, to deal with as a traveler, which is one of the most, The Cuban Peso (Peso Cubano, moneda nacional or simply MN). In addition in 2020 Cuban banks stopped accepting US dollars from those trying to deposit them, citing US sanctions. Ive been there 3 times and thats what is preferred by Cubans and Canadian. When paying at private facilities, ask whats the best currency to pay with. I believe the cigar store is past the security area. There is no limit on the amount of cash you can withdraw. This is the biggest market for money changing in Cuba. The currency scam can go one of two ways: 1) you receive forged currency in exchange for your (legitimate) money; or 2) you get change in CUC, instead of CUP. So, if I read your article correctly, in section 4, there had been a 10% tax on conversions from US$ to CUCs but that has been eliminated as of July 2020. These cookies track visitors across websites and collect information to provide customized ads. The value of the Cuban convertible peso (CUC) was US $ 1.00. As a US traveler, the exchange rate for US dollars to Pounds or EUROs is currently .81 and .92 respectively. (this is a cut/paste) The eight series of notes were dated 1934, 1936, 1936A, 1938, 1943, 1945, 1948, and 1949 and ranged from one peso to 100 pesos. I plan to return to Cuba before the end of the year. Just to follow up on this. Its also subject to the lowest exchange fee of 2% (the US dollar is subject to an 8% exchange fee). You cannot buy Cuban Pesos outside of Cuba. However, you shouldnt expect US dollars to be accepted everywhere. Demand for hard currency drove a black market in currency exchange, with US$1 being worth around 100 CUP by January 2022. Tipping is entirely optional in Cuba, but recommended. They sell it with a smile. In the capital city of Havana, over 1 million housing units are . As of April 2023, US dollars can now be deposited into Cuban bank accounts. I hope you have an amazing stay in Cuba! I had that issue a few times. Hi Mary, [16] In 1891, the Treasury issued notes for 5, 10, 20, 50, 100 and 200 pesos. Honestly, use your best judgement but my experience is no-one is going to go through your pockets so if you have a few coins and bills its not going to be a big deal. Anyone resident or visitor with a MLC card, or a Visa/Mastercard debit/credit card not affiliated to a US bank, can spend in these stores. USDs are useless in Cuba because they are not accepted at any tourist facility. They can also be exchanged in the informal markets (black market) usually at a rate much higher. Has anyone stayed at the so/ paseo del prado la habana before? Remember that you must sell your USDs because they are not accepted for buying products or services at any state-owned facility (airports, car rental offices, etc.). They provide the following services: The ATMs (Automatic Teller Machines) should work in Cuba for Visa, Mastercard, and American International Service (AIS). Thank you! Bring plenty of cash. That being said, it is true that there may be long lines at some of the official exchange offices (CADECA), which you can find at hotels, airports, some banks, and at the cruise terminal. You have to wait until you arrive to buy Cuban currency. EUR and USD are the most useful currencies. (CUC is still a no-no). In fact a taxi driver gave me a better price on cdn$ than used. Still, the government defines the wages of the Cuban employees at the resorts. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. For more details about how tipping works in Cuba, did you check our tipping guide? You cant also bring CUPs to Cuba. The currency code for Convertible Pesos is CUC, and the currency symbol is $. I love Cuba, the music, the culture and the old cars. There is an article from the Cuban Central Bank answering the most frequently asked questions. Furthermore, the government also set different exchange rates for different enterprises (e.g. Where i trust people to exchange money for me. While I do agree that the intricacies of the Cuban system can be somewhat complicated, there are some basic facts that are easy for everyone to comprehend. Thanks for sharing your experience, Melva. My advice is: The cars rides are very expensive to take for a. Tour. Added to this Cubans are STILL paid in CUP, in Cuban Peso, which can be used to pay for food and basic items, but nothing else. You will have to pay in CAD. As mentioned above, in 1953, silver 25 and 50 centavos commemorative coins were also issued. Click Here and Sign Up! Yes. Regarding Tropicana, I dont think that that price is accurate. Hi, does the Exchange rate from the example picture CADECA EUR (sell) 1.13256 means, that I get 113,256 CUC for 100 EUR? The currency symbol is . [19] The three-peso note was introduced in 1983. If my math is correct, given the above exchange rates, one would want to use EUROs over Pounds before arriving in Cuba. And we used ATMs throughout Cuba with only one problem a card that stopped working, so we used another one. We are coming to Cuba in Jan 2022and are confused about the currency so can we bring Canadian coin and bills for tipping and spending. I exchanged $70 initially when we first arrived and received 1:100 rate. Power outages and blackouts might also affect your ability to pay by credit card. You can use Western Union to send money to Cuba. The Cuban Peso (CUP) is now the only official cuban currency. You can also use Duales, which gets great reviews. Which country agreed to give up its claims to the Oregon territory in the Adams-onis treaty? Exchange done in Cuba: Buying a drink at a bar? What effects accomplishments did Francisco have. Thanks for your comment. This MLC can be used to pay for items in the stores where imported goods, like foreign medications, imported foods, etc) with the new bank cards. Does this mean you cant go to a bank in the US and exchange money for Cuban currency before your trip? One person will tell you that Euros are preferred in Santiago and US Dollars in Havana. What US citizens cannot do is spending money at certain state-owned companies that are controlled by the Cuban security services and the military. Going to Veradero Why not write a simple guide detailing how to change money safely? Im pretty sure I can buy them with my Canadian cash credit card. Debit cards can be used in the same way as credit cards in Cuba. I am a little confused by this response: US Dollars can still NOT (as of January 2023) be deposited in Cuban bank accounts. Currency How can you pay in Cuba? Good article, on our way to Cuba for the umpteenth time and just double checking current currency regs. The most usual ones are Visa and Mastercard. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. This has easily been the best thing about Cuban currencies i have read and ive been doing research for what feels like hours! > You can, AllCUC notes or bills have monuments on them. So if I still have cuc I can tip with them at the resort? The good prices surprisingly are in big government hotels like Inglaterra or Nacional and they have prices in CUP . Some resorts are managed by foreign hotel chains (such as Meli) and the government just owns the property. Do you have to get CUP change from vendors in CUC transactions or is there another way? It depends on what and where you are buying things. Over 70 million downloads worldwide. As of the end of November 2022, you can NOT sell CUP back to your home currency anywhere at all. You can use your home currency only when paying for a rental car, tipping, and past the security checkpoint at airports. Notes should be clean, without tears or creases. We have heard positive things about usingEnvirodineroto send money to Cuba. Travel Health Insurance Travel medical insurance is an entry requirement for Cuba, so you cant skip it. However, if you fail to exchange your US dollars in the informal market (which exposes you to currency scams), you wont be able to use them anywhere in the country. Need to know when a currency hits a specific rate? The last US produced coin was the 1961 five centavo piece.[14]. Hi Claudette, There is no entry fee to Cuba. Have a wonderful stay in Cuba! Yes, private business owners and locals will gladly accept your US dollars. If your credit card is NOT issued by an American bank, it should work. I will be traveling to Cuba at the end of this month and my travel agent offers an exchange in advance it seems like i am still dinged for the conversion, but a little better than what i would get if i do the exchanges myself in Cuba. Now, with the elimination of the CUC and new exchange rate of 24 pesos to $1 USD, the State will have to spend 5,256 pesos (24 x 219) to import that ton of corn. As we said, we still think that its better to bring Euros. While technically described as a devaluation from the official 1 CUP/USD used in government and state business books, for the public it was viewed as state enterprises merely catching up to the reality of 24 CUP/USD that had always existed in the private sector. Sure Ill add some more content in, but in the meantime Expect private businesses (i.e. Travelers can get travel health insurance for Cuba viaInsubuy. Access to your funds outside of Cuba may not be possible so bring more than you expect to spend, just in case. (note this doesnt work for US bank-issued cards). Hi Jason, The monetary situation in Cuba is quite complex. If you expect to receive CUP in a transaction and dont see a face on the bill, you will get CUC instead! However if not, I can always pay via card at the hotel. Not all-inclusive hotels are directly managed by the government. You can, but its preferable to tip in your home currency since CUCs are going away at the end of 2021. The Cuban Peso (Peso Cubano, moneda nacional or simply MN) is used by both residents and visitors alike. Check with your credit card company before your arrival whether they have limitations on use in Cuba. Thank you so much for this! Greetings from Luxembourg/Europe, my tips for people from the USA: change your dollars to euros, I understand the currency exchange in this article. That will make the most followed Twitter accounts, like Musk's, more influential. So which is it? A Cuban representative was on-site in Washington DC to consult and approve designs. The value of the Cuban Peso against the USD depends on to whom you sell your US dollars. Avoid exchanging money at these private facilities or with street vendors. Are GBP or EUR coins acceptable as tips, since 5 note is too much? Travelers should exchange their USDs with people they trust. 24.02 5693 Cuban Pesos. Before 1857, Spanish and Spanish colonial reales circulated in Cuba. Other areas outside of the airport were not an issue. The currency that is preferred will depend on where you are in the country and if youre exchanging informally with your casa particular owner or taxi driver, their personal circumstances. Got questions about the Cuban Currency? Actually, according to a recent customs resolution, you can export and import up to 2,000 CUP. 1 euro=about 110-120 cup. Required fields are marked *. The Cuban Central Bank recommends using https://www.enviodinero.es/en If I bring Canadian money do I still need to convert to CucS ? Hello if you can not use cuc in the airport should we use Canadian money to buy something (ex drink, lunch) or a Canadian credit card? How is it possible for mantle rock to flow? Hi Robert, Will i be ok to enter the country with these CUC bills? See: https://www.cibercuba.com/noticias/2021-06-15-u1-e199370-s27061-gobierno-cuba-extienden-180-dias-plazo-canje-cuc-sucursales. 4.5/5, 2.2k . You want to tip or pay a small amount you give the canadian coins. However, we suggest you bring cash in both EUROS and US Dollars. 1. The currency symbol of the Cuban money is. I have some at home maybe 150 cuc what do you recommend I do. Im really surprised that Tour Republic is giving advice to not bring US Dollars at all. You cant pay for goods in these stores, called MLC stores, with Cuban Pesos. (Euro is more popular, simply as it is more widely used. The scam is more about receiving CUP instead of CUC when exchanging your foreign currency. I think thats likely to change in the next months because, as you pointed out, it does not make any sense. However, you cannot use US dollars in Cuba at any government-owned facility. Youd be amazed how many times Ive had someone tell me that they felt they were scammed when theyd assumed the price was in Cuban pesos and it turned out to be in dollars. But going to the newly built tourist section between the The Beatles Bar and Jasone Park, its Pesos. also, would there be any issue trying to buy CUC with CAD without a canadian passport, only a US passport? Cuban money is not traded internationally and is known as a closed currency. Hi Benita, This is for informational purposes only. So, plan on paying for most of your expenses with hard currency! Check the full list here. Avoid counting out large amounts of cash in public. Just looking for your thoughts on the terms below. One thing that I noticed at the Havana airport is they would not take any US currency that had any tears or writing on it. Our currency rankings show that the most popular Cuban Peso exchange rate is the CUP to USD rate. In 1962, cupro-nickel 20 and 40 centavos were introduced, followed, in 1963, by aluminium 1 and 5 centavos. The new rate is available from banks, bureaux de change, and hotels in exchange for hard currency. Hi Ilia, HELLO MY FELLOW CUBANS MY NAME IS HASHIM, I AM VERY FASCINATED AND REALLY LIKE HISPANICS, MEXICAN, LATINO, CHICANO, PUERTO RICANS MY REASON WHY I AM LEAVING THIS COMMENT TO ASK CAN I EXCHANGE A 20 DOLLAR CUBAN BILL AT THE CADECA AIRPORT IN CUBA FOR US 20 DOLLAR BILL. The US dollar was legal tender in Cuba from 1993 until 2004. MORE INFORMATION INOUR DISCLAIMER. The only serious answer to this is one that both works and one that has cash inside it. Be aware of this and bargine for prices they will always try get impossible. For everything else we paid cash. Theres always a solution. Hi Nancy, One thing if I wait until I get to the resort to exchange money how can I tip the bus driver and bell hop. Its now extended until end of the year. Thanks for sharing your experience, Sandra! The currency code for Cuban Pesos is CUP. You still have to spend a whole day in Havana! Only take out what you need each day. Cuba's coronavirus pandemic-ravaged economy shrank by 11 percent in 2020, the island's economy minister said, the sharpest contraction since the collapse of the Soviet Union in the early 1990s. I dont really want to carry this much cash around. However, its likely that you will do most transactions in CUC. For the first time since the breakup of the Soviet Union, Russia is taking an intense interest in Cuba as Moscow has become increasingly isolated over its invasion of Ukraine.Top Russian officials have flocked to the island nation this year, starting in March with Nikolai Patrushev, Moscow's secretary of the Security Council, alongside the executive director of state oil company Rosneft, Igor . We also use third-party cookies that help us analyze and understand how you use this website. This cookie is set by GDPR Cookie Consent plugin. By clicking Accept, you consent to the use of ALL the cookies. The official currency in Cuba is the Cuban Peso (CUP). We have heard about some travelers who hid the CUCs and passed them through customs. Everyone has a different experience. You can only pay with MLC, which Cubans can only pay with by loading up their MLC cards with foreign currencies, like Euros, Canadian Dollars, or British pounds. I would argue the best currency to bring to Cuba is the Canadian dollar. I would just say your taxi driver from the airport will happily, if not insist on any hard currency Select a currency CUP - Cuban Peso Cuban Peso Stats Cuban Peso Profile I think you are right, lets rewrite it similar as you suggest :), since the CUC and CUP both are Cuban official currencies since 2004. Thats why I do not recommend to exchange money with street vendors, despite their better exchange rates. But Cuba always has a fluid situation. GBP and CAD are often accepted, but may not be accepted in all restaurants, casas, taxis etc. Thanks for your informative site! Between 1988 and 1989, the National Institute of Tourism (Instituto Nacional de Turismo, "INTUR") issued "Visitors' Coinage" for use by tourists. Confirm the currency that youre paying in as well. 1. also, if i am staying a an all inclusive resort, then why would i need to tip anyone. What was the date of sameul de champlians marriage? Only Cuban residents are allowed to spend US dollars at dollar stores. We recommend that you check with your bank before you come to Cuba and have a back-up plan for obtaining cash in Cuba in case your credit card does not end up working. Tks, this info is very important & interesting, I will be visiting in June 2019 for 8 days. Their 40 dollar meal, yes listed in US dollars, cost them 200 Canadian. Actually, you can get CUPs in CADECA too. It was on August 4th that the Cuban Central Bank devalued the Cuban Peso, the CUP, and brought it into line with the rates you could get on the black market. The Cuban government also legalized the use of the US dollar alongside the Cuban peso (CUP) in 1993 to help with stabilization following the collapse of the Soviet Union. The economy of Cuba is a mixed command economy dominated by state-run enterprises. Can you pay a driver in USD to take you to an exchange as soon as you arrive? Cuban Tourist Card If your Cuban Tourist Card (a.k.a Cuban Tourist Visa) isnt bundled into your airline ticket or travel package, buy it only through EasyTouristCard. We are looking forward to are trip. (Iron them, it works!). And thats why, in a nutshell, theres so much that youll read about why Cubans want paying in foreign currency. I am going to Cuba tomorrow so I will report back. No worries, Alberto. The casa particular owners that I keep in touch with from prior trips all tell me to bring US dollars. Here we go. The currency symbol of the Cuban money is $. This banknote series is the only valid currency after the 2021 monetary unification when the convertible peso was retired. In 1994, coins were introduced in denominations of 5, 10, 25, and 50 centavos and 1 peso in nickel-plated steel. I think that 100 CUP is more than enough for one person but again, I just dont know what is your schedule in Cuba . They not only deliver cash to your recipients door, but theyll also recharge AIS cards too. Could you please let us know where did you go where you couldnt use Cuban Pesos? I imagine I may be spending around 1000 CUCs. Most people there dont trust the CUP, remember the CUC was deemed worthless, therefore they lost their mattress savings. You cannot buy Cuban currency outside of Cuba. Euros: 1.07 Euro to 1 CUC; US Dollars: 1 USD to 1 CUC (plus 13% exchange fee); Canadian Dollars: 1.30 CAD to 1 CUC; Mexican Pesos: 20 MXN to 1 CUC; British Pounds: 1.25 GBP to 1 CUC; Swiss Francs: 1.02 CHF to 1 CUC; Japanese Yen: 112 JPY to 1 CUC; Are US Dollars Accepted in Cuba? They will also be able to assist if you have problems with your credit or debit card being declined. We just rewrote the relevant section to clarify that this is not a blanket recommendation. Youve never been there. The unofficial exchange rate of the informal market, about six to seven times higher than the official exchange rate. Also, and this is a very Cuban phenomena, if you find yourself in a scenario where foreign cash is not accepted (such as a state-run hotel), simply ask any Cuban in the vicinity to help you out and they will, especially if they can make some money on it. Why is love of god often equated with love of fellow men? Last time the US administration imposed travel restrictions to Cuba, it didnt affect people who had already booked their trip. There is too great advantage in changing money at the informal rate to ignore it. Check with your provider before traveling. And so it was important to be able to tell if the notes you were being passed were CUP or CUC. The exchange rate at Cuban airports is the same as that of resorts. The US Dollar has an additional 10% fee. At each CADECA office, you will also see a TV screen or printed sign displaying the daily exchange rates. For example, non-covered services or products in all-inclusive resorts are charged in Cuban Pesos, but you can only pay with a credit card! The Cuban peso (in Spanish peso cubano, ISO 4217 code: CUP) also known as moneda nacional, is the official currency of Cuba. ATMs are scattered. Dont forget that it is mandatory to have medical travel insurance for Cuba if you dont have it on arrival and youre asked for it, youll have to buy a policy before youll be allowed in the country! And now its, well, still complicated, but a lot easier. 1 Pound should get 1.30 CUC. I was hoping to ask a couple of questions: 1. Apart from once on our first trip to Cuba when my card stopped working. Here are some suggestions of how not to get scammed (and this holds for ANYWHERE in the world). Cubans will accept US dollars for payment. Cuban currency is getting a lot easier to understand, but, likely, the changes from a dual currency situation to a single one will cause a few issues before they settle down. You do NOT need to be a relative of the person that youre sending money to either. Or want to know more about the currency in Cuba and we havent answered your questions? However, taking the double decker bus will only accept $5 USD in cash (not sure if theyll accept 5 Euros though) or pay by Canadian credit card and be charged $7.50 CAD. (Sigh, yes, why does it have to be this complicated?). The current USD to CUC exchange rate is USD $ 1 = CUC .87. This article used to be SO complicated. Either way, I hope you enjoyed the article! Your notes wont be useless CUC, but instead genuine CUP and no risk of pick pockets or robbery. So, dont overly rely on using credit cards. Actually, you reminded me that coins in non-USD currencies are not accepted in airport facilities. You cannot use CUPs past the security checkpoint. The Cuban Convertible Peso was introduced to take out all foreign currencies from circulation, and offer an alternative that is. There are a couple of issues, though. For all other countries, you should ask your bank before travel as to whether there are restrictions on using it in Cuba. Im stuck with US dollars. Do not change your dosh at a cadeca or airport. Thanks for the shout out! How would you travel outside the city? Skip to Content. CADECA offices are located in airports, cruise ports, and shopping centers. While the government issues the OFFICIAL rates for exchange youll find that the street rate still may differ, even with the changes that the Cuban government brought in in August 2022. Do they even have ATMs in Cuba? Thanks so much. Euros (EUR) and US Dollars (USD) are the best currencies to bring to Cuba in the areas where our tours visit. Dont forget that you will need your passport to change money. You may be charged a bank commission fee that can cost anywhere between 3 to 12% per transaction. Just search for cadeca. Essential Items to Pack Bring the essential travel necessities that you may not be able to get in Cuba: Find Accommodations Find hotels or casas particulares (private accommodations) on Skyscanner, which lists thousands of accommodations available in Cuba. Thank you very much! They will not have a change to give you back, anyway, and if they will it will be in coins. Any left over CUC can be converted back into EURO at the airport before we leave? Youll find plenty of offers from the taxi or colectivo drivers, looking for hard currency, to those standing around waiting by ATMs and Banks. In 1994 the Cuban convertible peso (CUC) was introduced at par with the US dollar and circulated alongside it. You CANNOT tip with a loonie or twonie. You can often stumble upon opportunities to sell your currency outside CADECA offices and local shops. I also added new facts about the Cuban currency after the latest ban on CUC at Cuban airports. Everybody will take an american dollar. Casas and hostels are safe since they have a reputation to uphold and youre a paying client. I am planning rent a car but after read this information I could not find any clarification regarding the payment at the gas station with a rented car. Brass 1 and 5 centavos were issued in 1943, and with copper nickel composition sporadically from 1915 to 1958. These cookies ensure basic functionalities and security features of the website, anonymously. Use the links on this page to understand more about the local currency in Cuba, currency symbol, notes and more. Necessary cookies are absolutely essential for the website to function properly. We always advise against exchanging your money on the street. Heading to Santa Maria in a week, 1st time there but 3rd to the island. My question is, what currency would we use to purchase the VIP Lounge if we are not allowed to bring CUCs once you pass through security / customs. What is the Best Currency to Bring to Cuba? And so if you dont want to be scammed in this way (as CUC are no longer legal tender), then youll need to be able to tell the difference between them. Bringing US dollars to Cuba is now useless. Canadian Dollar (CAD), which is convenient for the many. We will update this article shortly. What is the difference between Population and sample? Hi Brittany, While this can catch a visitor off guard if they dont know what to expect, the currency system is much easier to navigate if you know a few key pieces of information: So, what do you think? Also, how easy is it to hire a driver for a day in Havana? You can post an ad on popular Cuban online marketplaces such as Revolico. You can certainly do transactions in CUP. We are going to Cuba next month and thought it would be good to take Pounds rather than CDN $. Is that the best thing to do? Would you happen to know if I can change Australian dollars as Im being hit twice changing first to Canadian then to Cuban Thus, a travel money belt may be handy to protect your money and small valuables while walking the streets of Cuba. Just consider two things: You can also exchange the following foreign currencies in Cuba: You can get Cuban Pesos from CADECA, hotels, banks, hosts and friends, online marketplaces like Revolico, and street vendors. They can be used at some government-owned facilities. Unfortunately, you are not allowed to bring CUC into Cuba. They should take credit card if its not issued by a US bank. The exchange rate for locals and visitors, about five times higher than the official exchange rate. Tourists would use CUC and Cubans would be paid in CUP and most goods of any use (apart from the rationed food items) were only available in CUC. Enjoy your trip to Cuba, Alberto! Can you use US dollars in Cuba? Due to the skyrocketing prices of foreign currencies in the informal market, the Cuban government began buying them at about the same prices in 2022. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. Thanks for the heads up! The best place to check the current exchange rates that will apply to you as a traveler is CADECAs website. Ok, skip ahead, but sometimes a little history is important so you can understand why we are where we are about Cuba, dollars, and foreign currency and why its often particularly confusing. Some ATM machines and banking facilities may not be offering the new exchange rate of 120CUP:1USD. You CANNOT exchange Australian Dollars or Hong Kong Dollars in Cuba. We are staying at Iberostar Selection Ensenachos Will the resort bus wait for guests to exchange currency if the lines are so long? British Pounds (GBP) has the highest official exchange rate but may not be as in demand by local businesses. Just ask about the exchange rate beforehand since most restaurants will lowball you (obv still better than official rate). He paid in Cuban Pesos at the gas station.

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