One currency: the Cuban peso (CUP)
Cuba now has a single official currency, the Cuban peso (CUP), divided into 100 centavos. The old two-currency system is gone: the convertible peso (CUC), long used by tourists, was abolished on 1 January 2021. Today everyone — locals and visitors alike — uses the CUP. Note that it is a closed currency, so you cannot buy or sell it outside Cuba.
Exchange rates and the “informal” rate
The government sets an official rate (recently around 120 CUP to the US dollar), but for years an unofficial “street” rate offered far more pesos per dollar or euro, and many visitors used it to stretch their budget. The gap has narrowed more recently, but rates shift constantly — check the current situation just before you travel.
Bring cash — and not US dollars if you can help it
Cuba is very much a cash economy, so plan to carry enough for your trip. Euros, Canadian dollars and British pounds are the easiest to exchange; US dollars can be harder to use and have at times carried extra penalties, so other currencies are usually a better bet. Change money at official *cadeca* bureaus, banks or hotels, and keep your receipts.
MLC cards and digital money
Some state-run stores sell goods only in “MLC” (Moneda Libremente Convertible), a digital hard-currency system where 1 MLC equals 1 US dollar. Foreign visitors can top up an MLC card with a non-US bank card or cash, though for most short trips, cash pesos will cover everything you need.
Important: US cards do not work
Because of the long-standing US embargo, credit and debit cards issued by American banks do not work anywhere in Cuba, and neither do many cards linked to US financial systems. If you are travelling from the United States, this is critical: bring all the cash you will need. US citizens should also check the current OFAC travel rules, as ordinary tourism remains restricted.
FAQ
What currency should I bring to Cuba?
Cash in euros, Canadian dollars or British pounds is easiest to exchange. Avoid relying on cards, especially US-issued ones, which do not work.
Can I use my credit card in Cuba?
Only non-US cards work, and only in limited places (some hotels and larger stores). Never count on cards — Cuba runs on cash.
Is the CUC still used?
No. The convertible peso (CUC) was withdrawn in 2021. The only currency now is the Cuban peso (CUP).
