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Cuba Currency

Money

The official currency is the Cuban Peso (CUP), divided into 100 centavos, but the 'tourist' currency is the Peso Convertible (CUC), which replaces the US Dollar as currency in tourist related establishments like hotels, restaurants and so called 'dollar shops'. US Dollars are no longer accepted as payment, and a 10 percent commission or more is charged to exchange them, therefore the best currency to bring along is Euros, the British Pound or Canadian Dollars. The CUC is almost equal in value to the US Dollar. Some places only accept Cuban Pesos and others only Pesos Convertible (usually tourist related establishments). Money should only be changed at official exchange bureaux or banks to avoid scams confusing the two currencies. Visa and MasterCard are generally accepted only in major cities and hotels as long as they haven't been issued by a US bank; Diners Club has limited acceptance, and American Express is not accepted anywhere on the island. No US-issued credit or debit cards will work in ATMs, but those holding cards issued in other countries should be able to get pesos at most major tourist destinations.


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