Is it better to exchange EUR or USD in Cuba?

Question

My friends go to Cuba next week on an organized tour. Which currency is better for them to take for on-site expenses - Euro or US dollars? I have heard about higher taxes on exchange of dollars (because Castro 's regime is against the US but cooperates with the EU) - is it still true?

(Just to clarify - both me and my friends are from Europe and it is perfectly legal for us to travel to Cuba.)

Thanks in advance!

Answer 1

Euros and canadian dollars are worth more in Cuba than american dollars when you change them to convertible pesos (the new cuban exchange currency)

Answer 2

EURO! (Or Canadian Dollars or Swissfrancs)

They charge you the normal changeing tax and an additional 10% fee for US-Dollars.

If you use a Credit Card (Visa/Master) to get money they charge you about 10 % tax. And you cant use any Credit Cards from US-Banks. I always use Traveller Checks in Euro or in Swissfrancs. Thats the safest way.

Answer 3

Do not take American money to Cuba, there is a charge to exchange it. The Euro is better, and Canadian dollars are good too.

Answer 4

EUR, trust me!

Answer 5

Euros are what they should take. US dollars can be exchanged but they will charge at least 10% for that. It's best to use Euros and they should change only what they need from day to day instead of everything since they could lose when they convert back to Euros. And always get a receipt at the time of exchange to make sure you get what it's supposed to be. CUCs have no value outside of Cuba and cannot exchange them back home. Credit cards are accepted too, but just as long as they are not US cards.

Answer 6

absolutely true take Euros you are penalized for using U. S.  They can change the Euros into CUC,  Convertible Pesos which tourists use at the airport or their resort.  The site below will give an approximate rate.

Answer 7

If you are from the U.S. AND you would need to exchange USD to EURO before you go (which will cost you a fee at the U.S. bank) then just take the USD. I was there last March, I took USD as well as exchanging some USD to $CAD and EURO in Miami BEFORE my departure. Kept track of the exchanges BOTH in the U.S. and in Cuba. The difference was negligible once they hit you for the exchange in the U.S (yes there is an additional fee for exchanging USD to CUC). Links to the Metropolitan Bank and Central Bank of Cuba can be found at www.MyCubaFest.com. That said, if you are Canadian take CAD, if you are from Europe then take Euro and if from the U.S. take your good ol' Greenbacks.

Answer 8

I would not recommend bringing USD at all. On my way out of Cuba last year there were locals trying to get those of us in line to buy their USD. Better to stick with Euros, just check the exchange rate before you go so you have an idea of what you'll get. Always ask for a receipt with your currency exchange, in case they make 'adding mistakes.' Have a great time!