Cubans generally want EUROS or AMERICAN DOLLARS, so bring EUROS or DOLLARS in cash to pay for Casas, tourist services, restaurants, taxis and Cuban experiences with Experience the Real Cuba etc. Cubans will also accept POUND STERLING and some other hard currencies, but EUROS are their preferred currency.
WHY DO CUBANS WANT EUROS?
Cuban business owners favour EUROS over the Cuban Peso (CUP)
or also known as Moneda Nacional (MN) because they need EUROS when buying
supplies to run their businesses. They can not use CUP.
WHY DON’T CUBANS WANT CUP IN CUBA?
- CUP is a complicated currency and has very little use in Cuba.
- CUP is not the currency Cubans use when buying their supplies to run their business / household.
- CUP exchange rates vary extremely from one day to the next so Cubans lose out big time when exchanging CUP into EUROS.
- There are usually long queues at the bank or CADECA so it is a pain having to change CUP into EUROS .
- There are frequent power cuts in Cuba which means you could be in a queue waiting to exchange your money when suddenly you are told to go away and come back another day, can you imagine having to queue all over again!
SHOULD I EXCHANGE MY EUROS OR DOLLARS AT HAVANA AIRPORT?
NO DO NOT EXCHANGE ALL YOUR EUROS OR DOLLARS INTO CUP at Havana airport or whatever airport you arrive into in Cuba!!!!!
DO I NEED CUBAN PESOS IN CUBA?
Not really. If you didn't buy any CUP at the airport or you find you want to have some CUP by all means you can exchange some of your currency, but do not exchange ALL of your EUROS or DOLLARS.
After a few hours in Cuba you will soon realise that Cubans DO NOT WANT CUP and you will feel disappointed that you exchanged all your money at the airport.
CAN I EXCHANGE EUROS FOR CUP AFTER LEAVING THE AIRPORT?
Yes, if you run out of CUP and want to buy more, you can exchange your EUROS with your Casa Particular, the CADECA or the bank anywhere in Cuba. Your Casa will probably give you a better rate than the CADECA or the bank.
YOU DO NOT HAVE TO EXCHANGE ANY MONEY AT THE AIRPORT IN CUBA.
SHOULD I EXCHANGE MY EUROS OR DOLLARS AT THE AIRPORT IN CUBA?
My advice to you is after a long flight to Cuba, get into a taxi and go straight to your Casa Particular and start enjoying your holiday in Cuba. You do not need the headache of queuing for ages at the airport in Cuba, you can pay your taxi fare with EUROS or DOLLARS.
EXPERIENCE THE REAL CUBA – SUPPORTING CUBAN BUSINESSES