Owais Crawford
Cuban currency can be confusing, especially for tourists. Until 2021, there were two official currencies in Cuba: the Cuban Peso (CUP) and the Cuban Convertible Peso (CUC). In 2021, the Cuban government removed the CUC, making the CUP the sole national currency. As a result, CUC bills are now worthless and cannot be purchased outside of Cuba. While US dollars are in high demand in Cuba and can be exchanged unofficially, it is recommended to bring Euros or Canadian dollars to exchange for Cuban Pesos at a better rate. Additionally, it is advised to avoid exchanging money at the airport or official money exchange locations, as the rates are often lower. Instead, it is suggested to speak with your accommodation host or refer to other locals for advice on where to exchange currency.
| Characteristics | Values |
|---|---|
| Can I purchase CUC (Cuban Convertible Peso) in Miami Airport? | No, CUC is a closed currency and cannot be bought outside of Cuba. |
| Current Cuban Currency | Cuban Peso (CUP) |
| Can I purchase CUP in Miami Airport? | No, CUP is only available in Cuba. |
| Currency to bring to Cuba | Euros or U.S. Dollars are recommended. |
| Exchanging currency in Cuba | Use state-run offices (CADECAs) or official banks. |
| Exchange rate for USD to CUP | 1 USD = 1 CUP |
| Exchange fee for USD to CUP | 13% (3% conversion fee + 10% tax) |
| Unofficial exchange rate for USD to CUP | 1 USD = 1.20 CUP |
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What You'll Learn
CUC is a closed currency and cannot be purchased outside Cuba
The Cuban Convertible Peso (CUC) is a closed currency and cannot be purchased outside of Cuba. As a tourist, you will not be able to get Cuban pesos anywhere before you arrive in Cuba. This means that you will have to wait until you get to Cuba to exchange your money.
In 2021, the Cuban government reformed its dual currency system, removing the CUC. Now, the Cuban Peso (CUP), also called Moneda Nacional, is the only national currency in Cuba. As a result, CUC bills are now worthless.
While you cannot exchange your money for Cuban pesos at Miami Airport, you can buy a Cuban tourist card at Miami International Airport at the check-in counter with American Airlines and Delta Airlines.
Upon arrival in Cuba, you can exchange your foreign currency for Cuban pesos at Havana Airport and other international airports, in exchange offices in Cuban cities (casa de cambio), or at official banks. However, it is recommended that you avoid exchanging money at the airport or at CADECA official money exchange locations as you will get a lower exchange rate. Instead, it is suggested that you speak with your accommodation host and ask where you can exchange your money.
It is important to note that US credit and debit cards do not work in Cuba, so you should bring cash and exchange it once you arrive.
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US dollars are in high demand in Cuba
The Cuban Convertible Peso (CUC) is a closed currency and cannot be bought outside of Cuba. This means that you cannot purchase CUC at Miami Airport. You will have to wait until you arrive in Cuba to change your money.
In 2019, the Cuban government opened "dollar stores" where Cubans could purchase items, mostly home appliances, at a discount by paying in foreign currency. This move, along with the expected end of the CUC as part of currency unification plans, means that vendors may now gladly accept USD. However, it is still recommended to have some CUC when visiting Cuba, as it is accepted everywhere, while USD may be subject to a 13% exchange tax.
The Cuban peso (CUP) is the sole national currency in Cuba. However, due to the high demand for foreign currency, most Cubans would be glad to accept Euros or USD. It is recommended to bring cash in these currencies to Cuba and exchange money with an unofficial money changer, as doing so at the airport or official money exchange locations will result in a lower exchange rate.
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Cuban currency has both formal and informal exchange rates
Cuban currency has undergone several changes in recent years. Since 1994, Cuba had two official currencies: the Cuban peso (CUP), also known as the moneda nacional, and the Cuban convertible peso (CUC), which was convertible to and fixed against the US dollar. The Cuban peso was historically used for most transactions by the majority of citizens, while the CUC was used in the tourism industry and earned by a minority of citizens through their work in that sector.
On 1 January 2021, Cuba implemented "Day Zero" of monetary unification, making the Cuban peso the only legal tender in Cuba. CUCs were converted at a rate of 24 CUP/CUC, and a single official exchange rate of 24 CUP/USD became applicable for both public and private transactions. However, demand for hard currency made these exchange rates unavailable in the informal market.
The Cuban government has attempted to rein in the dual exchange rate, but informal money changers continue to operate, offering more favourable exchange rates than the official rate. For example, at the time of writing, the informal exchange rate is around $1 USD = 265+ CUP, more than double the official rate. As a result, travellers are advised to bring cash in hard currencies such as Euros or US dollars and exchange them in the informal market to get a better rate. It is not recommended to exchange money at the airport or official money exchange locations, as the rates are less favourable. Instead, travellers should ask their accommodation hosts for recommendations on where to exchange money.
It is worth noting that Cuban state employees were previously paid with basic salaries in CUPs and performance-based bonuses in CUCs. The complicated system of exchange rates and subsidies created a "dual-track" economy, with the majority of citizens earning only CUPs and a minority earning higher salaries in CUCs and foreign exchange. The transition to a single currency has been challenging for locals, as the value of their money has decreased significantly.
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Cuban pesos can be extracted from ATMs with a foreign debit/credit card
Cuban currency can be confusing, with the situation changing often. As of 2025, the Cuban Peso (CUP) is the only official currency in Cuba, having replaced the Cuban Convertible Peso (CUC) in 2021.
It is recommended that you only use Cuban ATMs in an emergency, as the rate you get is the official government rate. You will get a better value if you pay for things in Cuban pesos, and it is generally cheaper to pay in cash. It is also possible to exchange cash at an informal exchange spot, which will give you a better rate than the official money changers.
It is not possible to buy Cuban pesos outside of Cuba, so you will have to wait until you arrive to obtain local currency.
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US credit and debit cards do not work in Cuba
The Cuban Convertible Peso (CUC) is a closed currency and cannot be bought outside of Cuba. Therefore, you will not be able to purchase CUC at Miami Airport.
The Cuban peso (CUP) is the sole national currency in Cuba. It is important to note that the CUC bills are now worthless. You can exchange foreign currency at Cadeca money exchange locations, but it is not recommended due to the poor exchange rate. Instead, it is advised to change money with an unofficial money changer, as you will get a much better rate.
It is worth noting that credit and debit cards are accepted in some shops, businesses, hotels, and restaurants in Cuba, particularly in tourist areas. Major card companies such as Visa, Mastercard, and American Express are generally always accepted. However, there may be additional fees and charges for using credit and debit cards in Cuba, so it is important to check with your card provider before travelling.
To avoid any issues, it is recommended to bring enough cash to cover your expenses and to be cautious of scams or counterfeit money when exchanging currency.
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Frequently asked questions
No, CUC is a closed currency and cannot be bought outside of Cuba.
The Cuban Peso (CUP) is the only national currency that is valid in Cuba.
It is not recommended to exchange money at the airport as you will get a lower exchange rate.
You can exchange your money at Havana airport, other international airports, exchange offices in Cuban cities, or at your accommodation.
It is recommended to bring Euros or US Dollars to Cuba and exchange them for CUP at authorized banks, official currency exchange houses, or hotels.
