Money, Budget, and Shopping for Cuba

Money

CUP and CUC

Cuba’s unique feature is its dual currency system: the Cuban Peso (CUP) and the Convertible Peso (CUC), also called chavito.

The Cuban Peso is reserved for locals, while the CUC is for tourists—a system in place since 2004, when Cuba effectively stopped accepting the US dollar by imposing heavy exchange fees. However, some essentials (hygiene products, certain clothing) and services (restaurants, hotels, fuel) are still priced in CUC, making them expensive for Cubans given their salaries. For tourists, nearly everything is payable in CUC.

Note that in late 2013, Raúl Castro’s government announced plans to end this dual-currency system, which is unique in the world.

Cuban Peso (CUP)

Currency: Cuban peso (100 centavos)

Banknotes: 1, 3, 5, 10, 20, 50, and 100 CUP.

Coins: 1, 5, and 20 centavos + 1 and 3 CUP.

Exchange:

Convertible Peso (CUC)

Currency: convertible peso (100 centavos)

Banknotes: 1, 3, 5, 10, 20, 50, and 100 CUC.

Coins: 1, 5, 10, 25, and 50 centavos + 1 and 5 CUC.

Exchange:

Exchange

You can easily exchange money at airports, major banks, and exchange bureaus (Cadeca) across the country. You can also exchange between Cuban Pesos and Convertible Pesos if needed. Avoid street exchanges—while sometimes offered, they’re illegal and risky, as you might receive CUP instead of CUC.

ATMs are scarce and mostly found in major cities, so plan ahead if you’re venturing beyond tourist hubs.

Specifics

For years, the fixed exchange rate has been 1 CUC = 1 US $ = 22.5 CUP. However, the exchange rates for the euro, Canadian dollar, and other currencies fluctuate based on the market.

Which currency to bring

The US dollar is still unwelcome in Cuba, with a 10% surcharge on exchanges—unlike other currencies. US-issued credit cards (or those from US-affiliated banks) were banned for decades but have been usable again since 2015.

Instead, bring euros or Canadian dollars. These currencies are often accepted directly in tourist zones or all-inclusive hotels.

Payment methods

Card payments and cash in foreign currencies are accepted in tourist areas. However, always carry Convertible Pesos (CUC) and a small amount of Cuban Pesos (CUP) for local markets or small purchases. Avoid large bills to simplify change.

Upon return

Avoid leaving Cuba with CUP or CUC—they can’t be exchanged outside the country, and the CUC has no legal value abroad.

Avoiding mistakes

On the ground, pay attention to what you’re paying and in which currency. Key points:

The Cuban Peso (CUP) is for locals; the Convertible Peso (CUC) is for visitors.

Don’t confuse CUP and CUC—the exchange rate is roughly 22.5 in favor of the CUC.

For tourists, very few things are payable in CUP—just small items or food in local markets.

The $ symbol is used for both CUP and CUC.

Budget

Contrary to expectations—and despite the local standard of living—Cuba isn’t necessarily a budget-friendly destination for independent travelers. Tourists and locals pay different prices for the same goods or services. That said, it’s still far cheaper than many other islands in the region, especially English-speaking ones.

For those not staying in all-inclusive resorts (where spending differs), budget around 35 €–50/day for two people traveling "locally"—staying in casas and using Viazul buses. For more freedom and activities like diving, aim for at least 45 €/day. In the low season, prices for accommodations, restaurants, and rentals (which cater to tourists) are generally lower.

All-inclusive resorts, while often cheap upfront, can quickly inflate your budget with on-site extras and add-ons—many of which are as expensive as (or pricier than) in Europe or North America.

What can be expensive

Long stays in beach resorts.

Hotel-organized excursions and their extras.

Car rentals.

What can be affordable

Eating local.

Casas particulares compared to hotels.

Price ranges

Private room (double): options range from 16 €–28 for casas particulares.

Mid-range hotel (double): around 25 €.

Local restaurant meal: 5 €–10 in paladares (or under 2 €–3 in "popular restaurants").

Tourist restaurant meal: 10 €–15.

Budget car rental: 55 €–60 (insurance included).

100 km by bus: around 4 € with Viazul buses.

100 km by train: 2 €–3/100 km ("tourist rate").

Urban taxi: roughly 2 €–5 for an average city trip.

Urban bus:

Bargaining and tips

Bargaining

More than outright haggling, negotiation here is about paying a "normal" price—or close to it, since tourists always pay a bit more. If no price is listed, ask and negotiate if needed, ideally after checking the going rate. For taxis, agree on the fare before departing. In the low season, you can also negotiate (slightly) for accommodations.

Tips

Given Cuba’s low wages, tips are welcome—though not mandatory. Plan small change (0.5–1 CUC max) for minor services or around 10% for restaurant bills. Always double-check your change.

Tips (and gifts) in all-inclusive resorts

Shopping and souvenirs

What to bring back

Cigars: A Cuban staple—buy from official, specialized shops, not street vendors. Customs checks the origin and seals of cigars at departure (keep receipts).

Guayabera: Traditional Cuban shirts, often worn for celebrations.

Rum: Cuban rum is among the best in the Caribbean, with prices varying by quality.