We have been planning our trip to Cuba for over 7 months now.
Any credit cards, debit cards and/or ATM cards that are issued in the United States are worthless and will not work in Cuba, so we had to make sure we enough cash on board to cover absolutely any expense that we may have for the next 2 months while we are there.
To exchange any currency in Cuba there is an automatic 3% fee. In addition, there is a 10% penalty for exchanging USD’s into Cuban Peso’s. So, $100 USD will only get us about 87 Cuban Peso’s.
I hate penalties and loosing money, so we stocked up on Euro’s when we were in Martinique. We will not encounter the 10% penalty when exchanging Euro’s.
There are 2 different types of currency in Cuba.
CUC, (also known as the Peso Convertible)
1.) The currency used by tourist
2.) Has Pictures of statues
3.) Feels more official
1.) The currency used by the locals.
2.) Has pictures of people
3.) Its usually more worn
The CUC is = to $1 USD
1 CUC is = to 25 CUP
Ok, are you confused yet?
We CAN convert our CUC to CUP to use for taxi rides, groceries or really anything local. But we can not exchange Euro’s or USD for CUP.
The best part about this whole currency thing is (sarcastic voice) …. most places don’t say whether the listed prices are CUC or CUP!!
Here’s a picture of the currency.
The 50 is really only worth $2.00 USD since it is a CUP.
The 20 is worth $20 USD and the 5 is worth $5 USD since they are CUC’s….
This should be fun to try to figure out!!