January 17, 2007

Don’t get scammed when converting currency in Cuba

Can you tell the different between convertible and non-convertible pesos in Cuba?

The Cuban Convertible Peso (CUC) is the unit of currency used by travelers and is separate from the regular peso. How can you tell the difference? Look for the words “peso convertibles” on the front or back of the bill.

You can only convert your currency once you arrive, but don’t take your US dollars! According to various government advice sources they are no longer accepted as payment, and there is a 10% commission to exchange them. Other foreign currencies, including the Euro and the Canadian dollar, can be exchanged without the commission.

A note of caution: Government advice recommends only converting your cash at reliable and recognized facilities, and stick to denominations of less than 100 (which are commonly counterfeit).

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