Cuba - No more dual-currency system Jan. 1

Old Dec 30th, 2020, 11:54 AM
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Cuba - No more dual-currency system Jan. 1

The Economist magazine is reporting that Cuba will do away with the CUC convertible peso at the start of 2021.
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Old Sep 22nd, 2023, 07:26 PM
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As an update to this old post, the CUC convertible peso faded away slowly to extinction and now the only official currency is The Cuban peso also known as moneda nacional (CUP).
Currently CDN, U.S. dollar and Euros are useable and sought after foreign currencies in Cuba for trade and non-gov't establishment use.
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Old Sep 22nd, 2023, 08:20 PM
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Indeed, CUC is no more. And the CUP can be hard to navigate for newbies. One thing everyone should know: the legal exchange rate is a lot lower than the exchange rate on the street. Don't hesitate to ask for more information!
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Old Sep 25th, 2023, 04:38 AM
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Here is the site that shows what the current "informal" rate is for the CUP against the USD, Euro and the MLC.

If you want to get the informal rate, go through a Cuban friend, your Casa Particular owner, your hotel receptionist etc. Try not to give your money to someone who will go and get your CUPs after you give them your money. You will probably not get the current informal rate but if you get close you are doing good. Be cautious going this route.

Oops, I can't post the link until I get 10 posts but just Google eltoque and you should be able to find it.Click on EN at the top right of the page to get the English version.
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Old Sep 25th, 2023, 11:26 PM
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Thanks Drgdrg!
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Old Sep 29th, 2023, 07:09 PM
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Thanks
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Old Oct 20th, 2023, 08:11 AM
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I'm actually grateful for this as a traveler, but I wonder how this will affect residents?
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Old Oct 20th, 2023, 04:42 PM
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For me, life was easier with the CUC. It was on par with the U.S. dollar and now one needs to do all sorts of arithmetics in the head when doing a transaction. Not sure if the locals care one way or another. They just want adequate funds in any currency.
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