How to change money in Cuba

If you have to travel to Cuba in the coming days or weeks, you should know that the currency exchange system has changed a lot in recent months. In this article we are going to offer you updated information on what are the best exchange conditions and how you should proceed if you want to change money before or during your trip to Cuba.

Cuba has two currencies

In Cuba circulate two currencies, the Convertible Peso (CUC) also called "chavito" and the CUBAN PESO (CUP). The CUC is equivalent to the US dollar. However, the change of dollars to CUC is taxed in Cuba with 10%. The change from the CUC to the Euro, for example, is around 1.40 CUC for each Euro. The change from CUC to CUP is for a CUC give 24 Cuban pesos.

Change in Cuba or in your country

The best thing is to change to Euros in your country and bring Euros to Cuba. In addition, the Euro does not have a commission as if it has a 10% dollar:

  • The CUBAN PESO (CUP) is only used to pay in cinemas or outdoor markets (agros). You can buy very cheap tropical fruits, vegetables, etc.
  • The foreigner has to pay almost everything in CUC, for example, in supermarkets, similar to westerners, is paid in convertible pesos (CUC).

Conclusion for 100 euros you should give, more or less: 135 cuc approximately and for every 100 US dollars you should give (including commissions and 10% tax): 86 cuc

Pay with a card in Cuba

Only VISA cards work at ATMs. Mastercard cards are not used to withdraw cash, only to pay in supermarkets and some establishments. Travel checks are not exchanged.

Where to change money in Cuba

Change some money to CUC before leaving the airport, airport and hotel exchange rates are not very good, which changes little money at the airport, only for the first expenses. Demand that they give you small bills in CUC, of ​​1, 5, 10 and 20, (also to pay the taxi driver). Always change in CADECA (official exchange houses) or in Banks. Do not change on the street.

Better not bring dollars to Cuba

We suggest you bring some cash, since there are not many places where you can pay with credit cards and debit cards do not work. You can only withdraw money in cash with VISA cards, and this in some hotels, banks and CADECA, always ask about costs before withdrawing cash. The US dollars (tickets in good condition) can be exchanged in the country, but there is a 10% tax on the transaction, so we advise you to bring your money in Japanese yen, Canadian dollars, sterling pounds, Swiss francs, Mexican pesos or euros.