Currency of Cuba, or What should a tourist take with him?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Cuba is a country that attracts tourists with its unusual atmosphere. The currency of Cuba and the financial system of the country are also not like the others. We propose to consider this issue in more detail.

Republic of Cuba - Liberty Island

The State of Cuba is more than 1600 islands located in the Caribbean Sea, between North and South America.

On the main island there are about three hundred beaches that stretch along the entire length of the coastline of Cuba. And this is about 1250 kilometers.

It's good to be a tourist here both in winter and in summer - the temperature is favorable for year-round recreation. For example, from November to April, the air warms up to +28-32⁰С, and water - up to +25⁰С. From April to October, the temperature rises to +37⁰С, and water - up to +28^{0С. Sunny weather prevails throughout the year.}

As for the cultural program, Cuba has places to go and things to see. The most famous sights are the Capitol of Havana, the historical center of the capital of Cuba - Old Havana, the Cathedral of St. Christopher in Cienaga Square, the Hemingway House Museum, the Colon Cemetery, the La Fuerza fortress, the Malecon embankment,Grand Theater of Havana and more.

What is the currency in Cuba?

This question is always relevant for any tourist. The national currency of Cuba is the Cuban peso, which is equal to one hundred cents.

As for the denomination, there are the following varieties:

• peso banknotes: 1, 3, 5, 10, 20, 50;
• peso coins: 1 and 3;
• coin cents: 1, 2, 5, 20 and 40.

Also in the country there is a special kind of peso - convertible. It equates to the dollar at a rate of 1:0, 9 and was created specifically for tourists. A convertible peso is distinguished from a regular peso by the inscription "convertible". Convertible pesos can be used to pay for purchases of goods, taxis, transport, departure tax.

Tourists can pay with US dollars only in some large hotels and restaurants. But there is always a chance that they will refuse to accept the currency.

Currency of Cuba and its exchange

In Cuba, you can exchange money in banks, exchange offices and in many hotels. As a result of the exchange of any currency, a tax of 8% is charged.

When exchanging US dollars, a commission is provided, the amount of which is 10% of the exchange amount. This fee is waived when converting another currency.

As a result of the exchange, instead of the euro, British pounds, Canadian dollars, Swiss francs, you can get a convertible peso.

Cuban Bank Hours: 8:30 am (some from 9:00 am) to 3:00 pm (sometimes until 3:30 pm or 4:00 pm), with a breakfor lunch from 12:00 to 13:00 on weekdays, from 8:30 to 10:30 on Saturday. Other exchange offices are mostly open around the clock.

Financial tips for tourists

Maybe these financial tips will help make your vacation in Cuba unforgettable:

• although the currency of Cuba and the peso, it is better for a tourist to exchange money for convertible pesos;
• you can use VISA, EUROCARD and other credit cards, except AMERICAN EXPRESS;
• cards and traveler's checks issued by an American bank are not accepted in the country;
• better to carry euros, British pounds, Canadian dollars or Swiss francs than US dollars;
• Cuban pesos are quite convenient to pay in places far from the center (for example, in the outback you can eat inexpensively but tasty and pay with pesos);
• there are constantly long queues at exchange offices, so it's better to immediately change part of the money for pesos;
• There is a 11.24% tax on all credit card transactions;
• There are no restrictions on the import and export of currency, only if the amount is indicated in the customs declaration, and when exporting, you must also have a check from a bank or exchange office, which confirms the legality of receiving the currency;
• the exchange rate is the same in almost all exchange offices, at the state level.