Cuba used to operate a complicated dual-currency system where visitors and holidaymakers used Cuban Convertible Pesos (CUC), while locals used a much less valuable currency called Cuban National Pesos (CUP).
However, on 1 January 2021 the Cuban government withdrew CUC from circulation and made the CUP the only legal tender.
Where to buy Cuban pesos
The CUP is a closed currency which means you can only buy it in Cuba.
The UK Foreign and Commonwealth Office advises British travellers to only purchase Cuban pesos at Cadeca exchange houses, large hotels or banks because forged banknotes are common and scammers will often target tourists by offering to exchange cash without queuing.
You'll need to show your passport to exchange Cuban pesos, and you can't take any back to the UK with you when you leave the country so make sure you only buy what you need and spend it before you leave.
It's also worth checking with your bank that you can use your UK bank card in Cuba - if not, take pounds Sterling with you in cash so you can exchange it for Cuban pesos when you arrive.
Cuban peso exchange rate
One British pound is worth approximately 30 Cuban pesos. Many private hotels, bars and restaurants will also accept cash payments in US dollars or euros, although Sterling is not widely accepted.
Cuban peso tips
- You'll need your passport to buy and sell Cuban pesos when you arrive so make sure you have it to hand
- You can't take Cuban pesos out of the country so try not to buy too many and make sure you spend any leftover cash at the airport before you leave
- If you're planning to use your UK bank card in Cuba to buy pesos or for to pay for goods, check with your bank first to make sure it'll be accepted. Many cards affiliated with the United States won't work in Cuba
- Only buy Cuban pesos from Cadeca exchange houses, large hotels or banks. Don't use money traders on the streets