Cuban Currency Question

[msn123]

Have started to think about the logistics of exchanging currency in Cuba. Is it worth it to get Euros or Canadian dollars so you don't get hit with the 10% penalty for using US dollars....plus what I seem to be seeing as a 3% conversion charge. I assume no matter what currency you pay the 3%?

 

We have a number of private tours schedules so the $$$ add up. Thanks in advance for the input and advice.

[LHT28]

Reading on the Cuba forum I think all currencies get hit with the 3%

USD incur an additional 10%

I guess you have to work out the exchange rates for E or CAD & see if would be worth exchanging USD to either of those

 

See you soon

[ronrick1943]

I believe it's not worth the extra time because bank will charge you an ex-chance rate--but if you have any left over from another trip take those along. I purchase extra for a Lisbon trip and plan to set some aside for Cuba.

[newbie60]

I believe it's not worth the extra time because bank will charge you an ex-chance rate--but if you have any left over from another trip take those along. I purchase extra for a Lisbon trip and plan to set some aside for Cuba.

 

In our case, we ran the numbers to compare getting Euros before leaving home vs using USD. We came out just a bit ahead on the exchange rate by using Euros. And, since we leave for Europe in a few weeks, all leftover cash will be used then. The exchange booths right in the terminal are very efficient -- be sure to ask for some small bills as you will want those for tipping.

[Paulchili]

In our case, we ran the numbers to compare getting Euros before leaving home vs using USD. We came out just a bit ahead on the exchange rate by using Euros. And, since we leave for Europe in a few weeks, all leftover cash will be used then. The exchange booths right in the terminal are very efficient -- be sure to ask for some small bills as you will want those for tipping.

 

Do they still use 2 different currencies in Cuba - one for foreigners and one for locals?

[Joanzzzz]

Do they still use 2 different currencies in Cuba - one for foreigners and one for locals?

Yes they do. Tourists will use the CUC, Cuban Convertible Peso. And yes, the US dollar rate is 10% vs a lower rate for other currencies.

[LHT28]

Do they still use 2 different currencies in Cuba - one for foreigners and one for locals?

Yes

 

CUC for tourist (one with statues on them)

CUP for locals (ones with people on them)

[Paulchili]

Yes

 

CUC for tourist (one with statues on them)

CUP for locals (ones with people on them)

 

Reminds me of the old days in China when they did the same thing until they decided that a single currency will work just fine :)

[LHT28]

Reminds me of the old days in China when they did the same thing until they decided that a single currency will work just fine :)

it would be nice but I think the value between CUC & CUP are very different

 

 

When we went way back in the 90's they accepted USD in Varadaro area but there were not a lot of shops to spend money in other than the hotel complexes

[bitob]

There was a plan to do away with the 10% exchange fee. Has not happened. We took euro and we were better off than those who took usd

 

 

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