When traveling to Cuba, you will primarily need to bring euros or dollars in cash. To a certain extent, a credit card will also be useful, and in some places, you can only pay by credit card or debit card.

In 2021, the so-called tourist currency CUC was abolished in Cuba, leaving only the original currency CUP (Cuban peso). The official exchange rate is currently set at 1 EUR = 27.9 CUP, but this rate is artificially set by the state and does not reflect economic reality.

At the time of our visit, the unofficial exchange rate was around 1 EUR = 160 CUP, but today it can be as high as 400 CUP per euro. We recommend checking the current situation before traveling and using this information when bargaining, which is quite common in this context. We had the advantage of being accommodated by a trustworthy landlord after our arrival, with whom we agreed to exchange a larger amount of euros. Money can also be exchanged "on the street," which was offered to us several times, but the risk of fraud is obviously higher there.

The official exchange rate mentioned above is very unfavorable, and if you decide to exchange money at official exchange offices (e.g., CADETA), your entire vacation will become significantly more expensive. However, there will be situations where you will have no choice but to accept the official exchange rate, especially in many tourist destinations. For example, in the tourist town of Trinidad, it was practically impossible to pay in any brick-and-mortar store other than by debit card or credit card, of course at the unfavorable official exchange rate. The funny thing is that in Cuba, the electricity is often out for part of the day, and then you can't pay at all in such stores. However, from our experience, we can say that some businesses offer relatively favorable prices when paying in cash euros.

We generally recommend paying in cash in CUP whenever possible – after exchanging money on the unofficial market – or paying in cash in euros if the business offers a more favorable unofficial exchange rate. Paying by card is always disadvantageous because it is based on the official exchange rate, but it cannot be avoided entirely. Also keep in mind that exchanging CUP back into euros is hardly feasible under favorable conditions, so consider in advance how much Cuban currency you will be able to spend during your stay.