Currency in Cuba: What You Need to Know

Cuba's official currency is the Cuban Peso (CUP), also known as moneda nacional. Since January 2021, the CUP has been the only legal tender in Cuba, following the withdrawal of the Cuban Convertible Peso (CUC). All transactions - whether for hotels, restaurants, or daily purchases - are now conducted in CUP. Many state-run hotels and shops have moved to cashless operation, meaning you can only pay using a bank card.

Banknotes are available in values of 1, 3, 5, 10, 20, 50, 100, 200, 500, and 1,000 pesos. Coins are issued in denominations of 1, 2, 5, 20, and 40 centavos, as well as 1 peso and 3 pesos. 

Is the Cuban Peso a Closed Currency?

Yes, the Cuban Peso is a closed currency. This means you cannot legally buy or sell CUP outside of Cuba, and it's not traded internationally. You'll need to exchange your money after arrival, at an official exchange office (cadeca). It's recommended to bring Pounds Sterling (GBP) to exchange. Note that Scottish or Northern Irish notes are not accepted.