Money

1. Currency Exchange

The official currency is the Cuban Peso (CUP) and is divided into 100 centavos. Notes are denominated into 1, 3, 5, 10, 20, 50 and 100 Pesos while coins can be of 1, 5 and 20 centavos, and there are others of 1 and 3 pesos. The tourist currency in Cuba is the Peso Convertible (CUC) that replaces the American dollar as currency at tourist spots. The U.S. Dollar is no longer accepted as a valid currency in Cuba and a commission of 10% is applicable to exchange them. The value of the Peso Convertible is almost equivalent to the American Dollar. Some areas only accept Cuban pesos while others accept only Pesos Convertible.

Currency can be exchanged at official exchange bureaus or banks to avoid any swindles confusing the two currencies. Major credit cards that have not been issued by American banks are generally accepted at tourist spots, hotels and restaurants. Visa and MasterCard are generally accepted at most places in Cuba, where as the Diners Club card has limited acceptance. American Express is not accepted anywhere on the island. Travelers' checks are not as popular as credit cards and are accepted in all major currencies, except for US bank issued cheques. ATMs are present at all major tourist destinations but do not accept any U.S. issued credit or debit cards.

2. What a Dollar Will Buy You

Though it cannot be termed as the cheapest destination, Cuba is reasonably affordable. A state-run restaurant charges US $10-15 per meal, while dinner for one at a paladar, which is a privately owned restaurant, costs about US $7. Bus or train rides for about 100 miles cost about US $4, whereas a rental car could cost as much as US $100 a day

3. Telecommunications

Telephone

The international calling code for Cuba is 53. To dial a number in Cuba from abroad, first dial the country code, then the code of the province in question and then the telephone number required.

To make a call to any country from inside Cuba, first dial 119, then the required country code, and then the area code followed by the desired number. To make an inter-city call within Cuba, first dial 0, then the code of the city you are calling, and then the required number.

Using public phones, which are blue in color, that accept calling cards to make both international or national telephone calls is the cheapest way to make phone calls. To call the US, you have to dial 119, then 1, then the area code, and lastly, the phone number. The cost is $2 per minute. To call within Cuba, you have to dial 0, then the area code, and lastly, the phone number. Calls inside Havana cost $0.05 per minute. It is advisable not to use the hotel phones to make calls because it can be very expensive.

Mobile Phones

US cell phones will not work in Cuba. But cell phones are available on rent from several companies. You are required to pay a security deposit if you rent a cell phone.

4. Cab Fares

The easiest and most economical way to move around in Havana is by taxi. Fares generally amount to $5. The cab charges for a trip from Havana to its outskirts will be from $12 to $35. The cheapest ones are Panataxi (55-5555), Micar (24-2444 or 24-2715). There is a good network of taxis around all the major tourist destinations and the main cities, and the prices are quite reasonable. The rates (which differ for different companies) begin with 0.50 dollars per km. But while traveling long distances, keep in mind that you should deal out the price with the drivers beforehand to get discounts.

5. Currency Exchange Rates

The national currency of Cuba is the Cuban peso.

1 Cuban Peso = USD 0.9259 US Dollar

A 10 % tax is applied on the exchange.

6. Taxes

There is a $25 CUC (Cuban Convertible Peso) departure tax charged to every person leaving Cuba.

7. Tipping

The tips are the main source of income for many Cubans. A tip given in convertible pesos is preferred. Foreigners too prefer using convertible pesos rather than US dollars.