In 1994 the circulation of the new Cuban convertible peso is introduced in the country. It is equivalent to one American dollar, in order to facilitate transactions in foreign exchange with a monetary sign of our own.
In November 8, 2004, the Cuban authorities eliminated the circulation of dollars and any other " foreign currency" in all the country. On a related measure, the Cuban Central Bank (BCC) resolution 80 / 2004, establishes from November 8, 2004 onward, the exchange of US dollars for Cuban Convertible Pesos will bear a 10 % tax. The measure is applied to nationals and foreign visitors, in stores, hotels, bars, cafeterias, taxis, car rental companies and any other business that presently accepts cash payments in US dollars.
Additionally, after these measures, the Central Bank of Cuba established in April, 2005 , the Agreement No.15, where the rate of change of the Cuban Convertible Peso with relationship to the American Dollar and other foreign currencies was re evaluated in 8%.
In Havana, travelers can extract convertible cuban pesos at automatic cashpoints located in: Hotel Parque Central, Hotel Meliá Cohiba, Hotel Nacional and the Miramar Trade Center. In Varadero, there are automatic tellers at the Plaza America Shopping Center and banks.Travelers can use Visa and MasterCard not issued by US banks to extract convertible pesos (CUC) or US dollars in banks, hotels and exchange offices (CADECA).
They were issued by Banco Nacional de Cuba with the face values of 1, 3, 5, 10 50 an d 100 convertible pesos to be accepted by the commercial network of assets and services operating in foreign exchange.
- As the main vignette a partial view of monuments of heroes of our
independence and liberation wars.
- Different colours for each denomination.
- Denominations in letters, arabic numbers and Braille system.
- The series composed by two letters and two digits, and the number
integrated by six digits.
- The signature of the president of the Banco Nacional de Cuba.
- Year of printing: 1994.
- Text stating its monetary and exchange guarantee for freely
Size: 150 x 70 mm.
- Common design to all denominations.The vignette corresponding to the
national shield of the Republic of Cuba.
- Denomination in numbers.
- Text stating its unlimited legal tender.
To know the specific characteristics as well as the enlarged image of
each denomination makes click above the image.
Security items for all denominations:
- Water mark (Visible against the light José Martí's effigy).
- Security thread microprinted with the text â€œPATRIA O MUERTE
- Motive with perfect coincidence front/back (5 points star).
- Latent Image. The legend BNC can be read at a certain visual angle.
- Calcographic Microprinted (en relieve).
- Lithographic Microprinted luminiscent under ultraviolet light.
Others currencies accepted in Cuba: Euro, Canadian dollars, pounds sterling and Swiss francs, may be exchanged for convertible pesos, always bearing in mind that one convertible peso is equal to one US dollar.Travelers can exchange money at the airport, hotels, banks and exchange offices (CADECA).
Euros will still be accepted at the main tourist destinations: Varadero, Jardines del Rey (Ciego de Avila province), Santa Lucia (Camaguey), Covarrubias in Las Tunas, Holguin and Cayo Largo del Sur.
Visitors can also exchange convertible pesos back to US dollars or to any of the currencies accepted in Cuba (euros, Canadian dollars, pounds sterling or Swiss francs) before leaving the country directly at the Cuban international airports. Travelers are recommended to change their money while in Cuba since they will not be able to do so once they leave the country.