The official currency is the Cuban peso. In Cuba, all purchases and services are paid for in Convertible Cuban Pesos (CUC) so travelers can exchange their currency for Convertible Cuban Pesos (CUC).

The tourist currency is basically the Convertible Cuban Peso (1 convertible peso = 1.08 U.S. dollar).

Convertible Cuban Pesos can be exchanged at a rate of 1 convertible peso = 1 American Dollar.

As you can see there is a 10% tax when exchanging U.S. dollars in cash for Convertible Cuban Pesos (CUC). 

Canadian dollars, euros, pounds sterling or Swiss francs are not subject to tax.

Financial transactions are carried out in euros, Canadian dollars, British pounds and Swiss francs. Cuba´s National Bank fixes the CUC exchange rate for all currencies.

The euro circulates freely in Varadero, Jardines del Rey, Playa Santa Lucia, Playa Covarrubias, Cayo Largo del Sur and in northern Holguín.  You can check the CUC exchange rate against other currencies on the website of Banco Central de Cuba. http://www.bc.gov.cu

Exchange Places: hotels, airports, banks, and exchange houses (CADECA S.A.)

The following credit cards are accepted: Cabal, Transcard, Visa, MasterCard International, Access, Bancomer International Eurocard, Banamex, Dinners Club International, JCB and Carnet, provided they have not been issued US banks or their subsidiaries, means of payment for domestic use issued by   Banco Financiero Internacional (BFI), Banco de Crédito y Comercio,  Banco  Metropolitano, Banco Popular de Ahorro and  BICSA (RED cards).

For more information contact the Tourism Bureaus or the Tourist Information Centers. http://www.cubatravel.cu / www.infotur.cu