There is only one currency in Cuba: the Cuban peso (CUP). So you will need to exchange currency when you arrive on the island.
The value of the Cuban peso varies according to the value of the US dollar. Likewise, the value with other currencies may fluctuate; For example, at the beginning of 2024, 1USD was equivalent to 290 CUP.
If you are a tourist and need to exchange currency, we recommend that you do so in CUP, the currency used by the country. You can exchange your money at official exchange houses or at banks. It is important to remember that not all stores, restaurants or hotels accept foreign credit cards. Therefore, it is advisable to carry enough cash for your daily needs.
It is advisable to have CUP to make day-to-day payments, such as restaurants, buses or buses within cities, street food stalls, ice cream parlors or basic stores that only accept pesos. It is suggested to bring low denomination bills (€5, €10 and €20) for daily expenses; many establishments do not have change for large bills.
In some cases, local stores will offer you to exchange Euro or USD currency for CUP at a better exchange rate than the official exchange houses. However, it is advisable to make these types of changes with people you trust (such as the private house where you are staying, a regular taxi driver, etc.) and never do it with strangers.
Finally, it is difficult to calculate exactly how much money to exchange at the beginning of the trip. If you have CUP left over at the end of your adventure in Cuba, it is recommended that you change them before arriving at the airport. Exchange offices at international airports do not exchange CUP in exchange for foreign currencies.