Cuba Currency: Your Cash Guide for a Week

Planning a trip to Cuba from Canada and wondering what currency to bring for cash? It’s a common question, and getting it right can make your travel experience much smoother. This guide will walk you through the essential details of Cuban currency and help you estimate how much cash you might need for a week-long adventure.

Understanding Cuban Currency

Cuba has a unique and sometimes complex monetary system. For many years, there were two currencies: the Cuban Convertible Peso (CUC) and the Cuban Peso (CUP). However, as of January 1, 2021, Cuba unified its currency, phasing out the CUC. The sole official currency is now the Cuban Peso (CUP), often referred to simply as the ‘peso’.

Canadian Dollars to Cuban Pesos

While you can no longer use CUC, you’ll still need to exchange your Canadian Dollars (CAD) for CUP upon arrival. It’s generally advisable to bring clean, newer Canadian bills, preferably in $20, $50, and $100 denominations, as these are easier to exchange.

Where to Exchange Your Money

You have a few options for exchanging your CAD to CUP in Cuba:

• CADECAS (Exchange Houses): These are government-run exchange bureaus found in airports, tourist areas, and major cities. They offer official exchange rates.
• Banks: Similar to CADECAS, banks also provide currency exchange services.
• Hotels: Many hotels will exchange currency, but their rates might be slightly less favorable than official exchange houses or banks.

How Much Cash for a Week in Cuba?

Estimating the exact amount of cash to bring for a week in Cuba depends heavily on your travel style and planned activities. However, a good rule of thumb for a comfortable mid-range trip is to budget around $75 to $150 CAD per person per day. This is a general guideline, and you can adjust it based on your needs.

Factors Influencing Your Cash Needs

Consider these points when determining your budget:

1. Accommodation: Are you staying in casas particulares (private homestays), eco-lodges, or all-inclusive resorts? Casas particulares are generally more affordable and require cash payment.
2. Dining: Eating at paladares (private restaurants) or local ‘cybers’ (small, inexpensive eateries) will cost less than dining in tourist-oriented establishments.
3. Activities and Excursions: Entrance fees to museums, historical sites, national parks, and organized tours will add to your daily expenses.
4. Souvenirs and Shopping: If you plan to buy local crafts, rum, cigars, or other items, factor this into your budget.
5. Transportation: While intercity buses are relatively inexpensive, taxi fares can add up, especially for longer distances.
6. Tips: Tipping is appreciated in many service industries.

Example Daily Breakdown (Mid-Range Traveler)

• Accommodation (Casa Particular): 20-30 CUP per night (this is a rough estimate, prices vary)
• Food: 20-40 CUP per day (for breakfast, lunch, and dinner at local spots)
• Activities/Entrance Fees: 15-30 CUP per day
• Miscellaneous (Water, Snacks, Small Souvenirs): 10-20 CUP per day

Adding these up, you can see how a budget of 65-120 CUP per day is a reasonable starting point, before any larger purchases or significant excursions. Remember to convert this to your Canadian Dollar equivalent based on the current exchange rate.

Important Considerations for Bringing Cash

Here are some crucial tips regarding cash for your Cuba trip:

Bringing Canadian Dollars

As mentioned, bring newer, clean Canadian bills in various denominations. Avoid bringing coins, as they are not exchangeable.

Avoid US Dollars

It’s highly recommended to avoid bringing US Dollars. Historically, there was a surcharge when exchanging USD, and while the currency unification has changed things, it’s still generally easier and more cost-effective to bring CAD or Euros.

Accessing Funds While There

While cash is king, it’s wise to have a backup. Credit and debit cards issued by US banks are not accepted in Cuba. Some Canadian credit cards may work, but it’s not guaranteed. Always check with your bank before you travel. You can often find ATMs in larger cities, but they can be unreliable, and withdrawal limits can be low. Therefore, carrying sufficient cash is essential.

Exchanging Money Back

It’s often difficult to exchange leftover Cuban Pesos back into foreign currency outside of Cuba. Try to spend as much of your CUP as possible before you leave. You can exchange small amounts at the airport before your departure, but the rates may not be favourable.

Final Thoughts on Cuban Currency

Navigating the currency situation in Cuba requires a bit of planning. By bringing Canadian Dollars and understanding the exchange process, you can ensure you have the necessary funds for your week-long trip. Remember that cash is the primary mode of transaction, so budgeting wisely and carrying sufficient amounts will contribute to a stress-free and enjoyable Cuban experience.

Ready to plan your Cuban adventure? Start by packing your bags and getting your Canadian Dollars ready for exchange!