Convertable peso vs cuban peso??

Question

I'm traveling to Cuba soon, and I'm confused about the two types of currency - the convertible peso and the regular peso.

Which one do I need? Or do I need different ones for different things?

Also, I'm Canadian, and I've read something about not being able to exchange pesos in Canada...what's up with that? Is it true?

I hear that some people have scams to tourists who don't know the difference between the pesos...

Thanks for any help and advice!

Answer 1

wow, they preffer dollars?
theperson who wrote that needs to stop listening to the media...
anyway there is no diference....is like you live in france and you have the franc and the euro...you can use both.
The convertible peso is worth just a little more.

besides that is nothing diferent....and yes you can exchange any type of curentcy in the world in the bank.Just make sure the bank is located in both countries.

Answer 2

Cuban Peso

Answer 3

Hi,
First place DO NOT use US dollar , they will accept it but charge you an extra 10% exchange duty.
There are two currency systems in Cuba. The first is called Peso Convertible and this is the currency for foreigners, tourists. For the moment , very roughly 1 Candian dollar equals 1 CUC (Peso onvertible ) The second currency system is called Peso Nacional or Peso Cubano and this money system is for the internal Cuban market and use. For example the Cuban wages are paid in Peso Nacional and they can buy groceries and clothing in certain shops and pay withj this lower valuated money . The value ration is 1 to 24 . One peso convertible (tourist money) equals 24 peso nacional. In the hotels,resorts,restaurants everything is counted in peso convertible. But for example if you go with a Cuban friend to a museum or an event the Cuban wil pay in peso nacional and the tourist in peso convertible , in fact the tourist will pay 24 times more than the Cuban but take in account that the average Cuban salary is 15-20 US$ a month, for him the price is adapted to his purchasing power. Easy to understand this can result in confusion for a foreigner. Watch out to only exchange in official places,a bank or Cadeca (= state exchange agency) and each time check the banknotes, a common trick in bars and restaurants to mix up the two types of banknotes. The best is to first take a good look at the difference between the banknotes. So you only need the peso convertible, they will not accept any other from you.
For more details read go to :
http://www.havana-guide.com click at the navigation bar under MONEY.
hope this helps.
vic

Answer 4

You cannot obtain Cuban money outside Cuba, as your Canadian you just take your Canadian dollars with you and when you get to your hotel there will be a little bank in the reception area were you can change your Canadian dollars into Convertible peso's and you will not get ripped off either, Convertible peso's are for tourists and the Cuban peso is for the Cubans, you won't be able to obtain any Cuban peso's just the Convertible peso's, do not take American dollars as they do not accept them no matter what people tell you, we met lots of lovely Canadian in Cuba while we were there last year and were going to be meeting up with two of them at Easter, have a fabulous time, Cuba is brilliant.

Answer 5

This Site Might Help You.

RE:
Convertable peso vs cuban peso??
I'm traveling to Cuba soon, and I'm confused about the two types of currency - the convertible peso and the regular peso.

Which one do I need? Or do I need different ones for different things?

Also, I'm Canadian, and I've read something about not being able to exchange pesos...

Answer 6

The Convertible peso CUC is the one you will use as a tourist , it has no value outside Cuba. You can change your Canadian dollars into Convertible Pesos upon arrival either at the airport or your resort. If you change your dollars at either you won't have any worries about being scammed. Before you leave for home it's best to use them up or save them for your next visit, You won't be able to change them back to Canadian in Canada. The standard Cuban peso is used by Cubans. You won't need them at all in fact I don't believe it's even legal for tourists to use them, although I may be wrong on that. Enjoy Cuba, it'swonderful. Below is a site to convert your dollars.

Answer 7

Hi, first of all; all you need to bring is Canadian currency to use in Cuba because you are a Canadian citizen, what they do in Cuba is converting the amount of Canadian dollars into the convertible pesos which have the same value as the American dollar in the international market and this currency is only good for using in Cuba, they also charge you another 12% for the transaction of one currency to another and that % goes to the Cuban bank. If you have extra pesos before you leave Cuba, you can exchange back into Canadian Currency.

Answer 8

convertable peso cuban peso

Answer 9

the convertable peso is the tourist peso. its the one that they'll give you when you exchange your canadian dollars. the cuban peso is the national peso the one that their citizens use. you cant exchange in canada, you need to exchange at a cadeca, a bank in cuba.

Answer 10

As they say, do not take USD. Take you CDN and change for CUC. You will probably not need CUP / MN.

Both Cubans and foreigners can hold and use both CUC and CUP - which can be converted in the Cadecas. But most tourists will have little use for CUP.

The CUC notes are printed in multicolours, the CUP notes are each in a single colour - CUP 20 - blue, CUP 3 - red, CUP 5 - green.