Currency & Payments

The official national currency in Cuba is the Cuban peso (CUP), which is equal to 100 cents. Circulating notes: 1, 3, 5, 10, 20, 50 y 100 peso bills. Coins: 1, 5 y 20 centavos, as well as 1 and 3 pesos.
Also circulating in the country is the Convertible Peso (CUC) , used in commercial entities and institutions operating in hard currency..

Forms of Payment :

As of November 8, 2004, pursuant to Resolution No. 80/2004 of the Central Bank of Cuba, payments in cash to Cuban entities that sell goods or services in freely convertible currency shall be made only in Convertible Pesos. This measure is universal, both for the local population and foreign visitors, and applies to shops, hotels, restaurants, bars, cafes, taxis, rental cars and any and other entities that demands to be paid in freely convertible currency..

Since March 14, 2011, in keeping with Agreement No. 30/11 of the Monetary Policy Committee of the Central Bank of Cuba, the official exchange rate of the Convertible Peso against the US dollar is set at 1 x 1 throughout the national territory, maintaining the profit margins applied to foreign exchange operations. The 10% tax applied to those who wish to purchase Convertible Pesos with US dollars in cash is still in effect.

Other currencies currently accepted in Cuba are: euro, Canadian dollar, British pound, Swiss franc, Japanese yen, Mexican pesos and Venezuelan bolivar and will exchanged for Convertible Pesos tax free, using as reference the exchange rate with regards to the Convertible Peso.

Money exchange service is available in airports, hotels, banks and exchange houses (CADECA).

Transactions carried out with credit cards with funds in USD accepted in Cuba, (Visa and MasterCard not issued by US banks) WILL NOT be subject to a 10% tax. Debit cards are not accepted.

All transactions carried out with credit cards are subject to a 3% tax.

in Havana, Convertible Pesos (CUC) can be drawn from ATM machines with Visa cards. There are ATM machines in the Parque Central Hotel, Meliá Cohiba Hotel, Hotel Nacional and the Miramar Trade Center. In Varadero, there are Visa ATM machine in Plaza America and in banks

Visa and MasterCard, not issued by US banks can be used to draw Convertible Pesos (CUC) or US dollars in banks, hotels and money exchange houses (CADECA).

Cuban pesos (CUP) may be used for the purchase of a limited number of products and services in certain local shopping centers, agricultural markets, cinemas and other businesses not directly linked to international tourism or away from the main tourist destinations The peso exchange rate in relation to Cuban convertible peso is 25 / 1 (purchase) and 24 / 1 (sale).

Foreign visitors can use money exchange services available in the international airports to exchange convertibles pesos (CUC) for US dollars or other currencies accepted in the country. Visitors are advised to exchange their CUCs whilst in Cuba, since they will not be able to do so once they leave the country.

The use and circulation of euro in tourist facilities in Varadero, Cayo Santa Maria, Cayo Guillermo, Cayo Coco, Cayo Largo del Sur, Playa Santa Lucia (Camaguey), Playa Covarrubias (Las Tunas) and in the northern coast of Holguín (playas Guardalavaca, Esmeralda and Pesquero) is allowed.