Pesos Cubanos Convertibles (CUC)
Starting from November 8, 2004 in Cuba single two currencies will circulate: the CUC (almost at the same rate with the USD) and the CUP (1 CUC = 26 CUP)
In the stores, restaurantes, etc. and in all the tourist establishments only the CUC is used.
The Cuban state doesn't accept any payment in USD (cash).
Initials:
USD (United Stated Dollars) North American Dollars (USA).
CUC (Cuban Convertible Pesos) Convertible Cuban Pesos.
CUP (Cuban Pesos) also well-known as National Currency (MN).
Rates of effective Change of Currencies in Cuba:
http://www.bc.gov.cu/English/home.asp As expressed by Cuban Central Bank. (BCC).
The Cuban state applies a tax (Obligation) of 10 % when one makes a change of currencies of USD toward CUC and the change is cash (notes). This is not applied to changes of other currencies like Euro, Canadian Dollars, Swiss Francs, Sterling Pounds etc, or neither it is applied when the extraction of effective national (CUC) it is made in an automatic cashier or bank starting from a credit card in any foreign currency it is included USD.
We recommend not to bring to Cuba cash in USD, the obtaining of effective national (CUC) for any payment in the national territory can be made starting from any other currency different to the USD, or of a credit card in any currency, included the USD. The credit Cards used in Cuba have NOT to been emited by North American banks.
To see ordinance-law of the BCC (Central Bank of Cuba) on the topic (in Spanish).
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