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| CUBAN CONVERTIBLE PESOS |
Cuban Pesos and US dollars and all other convertible currencies from all countries are more freely circulating in Cuba.
National Bank of Cuba released PESO CONVERTIBLE as Cuba's official currency for both Foreigners and Cubans living and travelleing in Cuba.
CUBAN TRAVEL MONEY
Also the Cuban Central Bank (BCC) established the offical Cuban peso exchange rate for US dollars to Convertible Pesos will not have a 10 per cent tax.
The extra fee was applied to nationals and foreign visitors in all Cuban shopping dollar stores, Cuban hotels, bars, cafeterias, taxis, Cuban rent-a-car agencies and any other Cuban owned business that accepts cash payments in US dollars.
For many years toourist could not use american Dollars or any other foreign currency in Cuba. Visitors to Cuba could bring dollars a tax only to get hit with a 10% tax at the exchange for Cuban Convertible Pesos
This special fee or tax would not be applied to other currencies such as Euros, UK Pounds or Canadian Dollars. Cuban tourist would change them while in holidaying in Cuba with no tax to US dollar exchange.
So now, in Cuba , there are two different currencies:
Cuban Foreign Tourist: CUBAN CONVERTIBLE PESOS
For Cuban Citezens: CUBAN PESOS
1 Cuban Convertible Peso = 24 Cuban Pesos
Cuban Exchange RATES: Euros, Canadian dollars, Pounds, Swiss francs, and others for cuban convertible pesos.
FOREIGN Exchange Rates for those currencies are set in accordance to established daily currency exchange rates on the international market.
Cuban Pesos are required to take Cuban buses or guaguas or to buy vegetables and fruits at Cuban markets or to buy juice or a pizza in the streets.
There are places that accept only Pesos Convertibles and other places only cuban pesos.
Toourist can buy Cuban pesos convertibles at any airport, bank, Money Exchange Offices, called CADECA where these offices are all over Cuba.
Best place to exchange your money for Cuban Pesos is in the CADECAs or at any local bank.
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