what is the official currency of cuba?

According to the Central Bank, they can also be used in retail stores. Thank you for passing on the information. If you want to buy CUC with Canadian Dollar (CAD), Swiss Franc (CHF), Japanese Yen (JPY), or Mexican Peso (MXN), you will have to divide the amount of money you have in those currencies by the exchange rate listed on the Compra/Buy column. In 1981, cupro-nickel 5, 10, 25 and 50 centavos and 1 peso were introduced, followed in 1988 by aluminium 1, 5, 10, 25 and 50 centavos. Can we tip Maids Bartender and services in Canadian$. In 1993, during the period of economic austerity known as the Special Period, the US dollar was made legal tender to encourage hard currency to enter the economy. Keep this guide handy during your stay in Cuba–together, we’ll make sure you have a great trip! I don’t believe that your trip to Cuba will be canceled due to the situation in Venezuela. (CUC is still a no-no). We recommend that you bring a mixture of USD in small bills in addition to larger bills. However, the national currency, the Cuban peso, is much less valuable. Hi Janice, For example, if you want to convert 100 CAD to CUC, here is the math: 100/1.36524  ≈ 73.25. – It’s the owner of the bank account in USD associated with the magnetic card who sets the card’s amount and usage limits. For example, the formula to exchange 100 EUR to CUC would be 100*1.07194 = 107.194. No problem. Thanks for your informative site! It is located in the Northern Caribbean, and Havana is the country's largest city as well as its capital. Actually, you can get CUPs in CADECA too. Nope. – You can deposit money into the bank account in 4 ways: Is there a big currency exchange fee if coming from Mexico? Actually, you reminded me that coins in non-USD currencies are not accepted in airport facilities. Transfers from non-US banks. I’ll exchange $CAN for CUC at the airport but I want to buy some cigars at the airport to have while I’m there. 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. If your credit card is NOT issued by an American bank, it should work. I’m pretty sure I can buy them with my Canadian cash credit card. Travelers will receive CUC’s at the rate of US $1 : CUC .83. Really useful information here. Your guide will be able to provide you with more details when you arrive. Is it better to exchange currency at the airport or our resort where will we get a better rate? We haven’t heard of any other fee charged by the official currency exchange offices in Cuba. ST41587. Employees of the Cuban state and of state enterprises are paid their basic salary in CUP, with some paid a performance-dependent bonus in CUC. The CUC is available in bills of 1, 2, 3, 5, 10, 20, 50 and 100. Is there a fee to enter or leave the country? Does this mean you can’t go to a bank in the US and exchange money for Cuban currency before your trip? As of today, the NAUTA booth (called Information) at the airport accepts only CUC. Cuba’s government has said it will respect the peso’s current rate with the public for a time to allow residents to change their convertible pesos for pesos and do so automatically for convertible peso bank accounts. Just trying to budget, to include additional currency conversion costs. Please note that CUC$1 comes in both a coin and paper money configuration. Denominations above 100 pesos were not continued. In 1905, the National Bank of Cuba (Banco Nacional de Cuba) issued notes for 1, 2, 5 and 50 pesos. Economists have long argued that the one-to-one official exchange rate – as well as the different rate of the convertible peso and various exceptions by sector – have stymied exports and encouraged imports because a dollar earned is accounted for as a peso and vice versa, making it difficult to decipher if a company is profitable. My flight arrives in midnight. In fact, you would get only 0.73 CUC for 1 CAD. A week earlier, the number of new infections dropped to an average of 21 per day. Authorities will also unify Cuba’s two currencies, keeping the peso but eliminating the convertible peso, Reuters said. Hi Lee, 1. Hope you have a wonderful experience in Cuba! I updated the article to clarify how to calculate how much CUC you will get when you buy them with foreign currency. It will never be one on one … It is between 10 and up,” he said. As an example, this will be like paying 5 USD for something that is only worth 0.20 USD. State shops and markets selling basic foods continue to accept only CUP. Believe it or not, you are not allowed to take a single dime in CUC out of Cuba. 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 still valid. In the case of buying CUC with CAD, you have to divide your amount of CAD by the exchange rate shown in the Compra/Buy column. The airport or my hotel ??? However, only Cubans can buy from these stores by getting a dollar-denominated card from a Cuban bank. In 1949, the Banco Nacional de Cuba resumed paper money production, introducing notes in denominations of 1, 5, 10 and 20 pesos that year, followed by notes in denominations of 50, 100, 500, 1000 and 10,000 pesos in 1950. Banknotes currently in circulation are 1, 3, 5, 10, 20, 50, 100, 200, 500, and 1000 pesos. I have been over 20 times in Cuba A cab ? Nevertheless, he believes it is the right one. As mentioned above, in 1953, silver 25 and 50 centavos commemorative coins were also issued. 1US = .87 CUC => minus 10% + 3% plus some other fees that are approx. My question is, what currency would we use to purchase the VIP Lounge if we are not allowed to bring CUC’s once you pass through security / customs. Does it help? The prevailing government rate can fluctuate and is currently US $1 : CUC .83 – .86). Unfortunately, I don’t 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). You would get 1.07 CUC for 1 EUR (“Buy” column). My son in law is Portuguese and communicates very well in Spanish which has always endeared him to the locals, they certainly do appreciate the communication. 2. Recently, it has become more valuable and fluctuated between 23 and 25 pesos to the US dollar.

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