What is the right currency for paying in Cuba!?

Currency in Cuba

Since November 8th, 2004, the PESO CONVERTIBLE has replaced the US-Dollar as currency for cash payment in Cuba.  
The PESO CONVERTIBLE (CUC) can be obtained without problems in all exchange offices, banks or hotel receptions. In banks and exchange offices, you can also get PESOS with your credit card (credit cards or travellers cheques of American banks are not accepted)

The exchange rate corresponds to the international exchange rate of the US Dollar at a ratio of 1:1.

Below, you can find all important information:

What is the PESO CONVERTIBLE valid for? 
The PESO CONVERTIBLE is the currency for payment in cash, for the Cuban population as well as for foreigners, in shops, hotels, restaurants, bars, cafes, cabs, car rental and every other enterprise. 

What is the exchange rate for the PESO CONVERTIBLE?
The exchange rate corresponds to the international exchange rate of the US Dollar at a ratio of 1:1, this means 1 CUC = 1 US-$.

Is the possession of US Dollars allowed?
The import and possession of US Dollars continues to be permitted. When exchanging US Dollars into Peso Convertibles there is however an exchange charge of 10%.

Exchange of Euro, Canadian Dollars, Pound Sterling and Swiss Franc without additional tax. Also payment with accepted credit cards or traveller cheques without additional tax. 

Where to change foreign currency for PESO CONVERTIBLE?
Exchange in: 
Exchange offices - Euro, Canadian Dollars, Pound Sterling and Swiss Franc. 

Branch Banks – above named foreign currencies and US-Dollars with a minimum of 10 $. 

Hotels with exchange office - above named foreign currencies.

In exclusive shops and authorised enterprises - US-Dollars with a minimum of 10$. 

Foreigners are allowed to exchange PESO CONVERTIBLE for foreign currencies by departure. 

Is it also possible to pay with Euro?
At the vacation resorts, that accept Euro for payment, you can still pay in cash with Euro. (Reservations for Varadero, Cayo Largo, Jardines del Rey, St. Lucia, Playa Covarrubias and the beaches of Holguín.)

Cuba Tourist Office 
Frankfurt, Germany, 27.10.2004

Information:

ACTIVE REISEN
Brunowstraße 5
D-13507 Berlin

Telefon: +49 15734530058
E-Mail: info@cuba4travel.com