Cuban Money and Legally authorized money exchange
On the island you will find two different Cuban currencies, the peso convertible (CUC) and the peso cubano (CUP). The peso convertible(CUC) will be the currency you will use the most, mainly hotels, restaurants, bars, shops, supermarkets, taxis, rental cars, ect.
It will also be the currency you use to pay the owners of the lodging being stayed at. The CUC is equivalent to the American dollar. Currency rates fluctuate according to the dollar.
The Cuban Peso (CUP) is only used to pay a limited amount of products and services in places like movie theaters, commercial centers and other establishment directly related to international tourism.
The typical Cuban market is open air and found all over the island.
You will be able to buy fruit, vegetables, pork and other exclusive products at reasonable prices.
For 1 CUC you will receive 24 pesos cubanos(CUP). Credit cards like visa and MasterCard are only accepted if they are not from North American Banks.
Always change your money in CADECA (casas de cambio), or in banks. These tend to have better exchange rates. You will also be able to change money in airports and in hotels.
Automatic teller machines will allow you to take out CUC with visa cards. Teller machines can be found in many banks and some hotels.
We recommend you deposit any extra Cuban currency back into your account before you leave because you will not be able to exchange once out of the country.
In continuation, we offer you the following link where you may consult up to date exchange rates and inform yourself on what foreign currencies may be deposited and changed on the Island: http://www.bc.gob.cu/Espanol/tipo_cambio_METROPOLITANO.asp