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Cuban peso
Cuba officially uses the ' internal' peso as the local currency. The peso is divided into100 centavos. Cuba also uses the 'tourist' or external currency, the Convertible Peso (CUC) which replaces the US Dollar in hotels, restaurants and 'dollar shops'.
Currency regime
The internal peso is fixed at a rate of 1.0 against the US dollar. The external peso was fixed at a rate of 1.00 against the US dollar, but is now set at 0.82.
Tourist rates
Some places only accept Cuban pesos and others only Convertible Pesos (usually tourist related places). Money should only be changed at official exchange bureaux or banks. Credit cards are usually acceptable, but not if they are issued by a US bank
On August 6th 2007 the Convertible Peso was valued at around 1.87 against Sterling. For 1 UK pound you will, therefore, receive around 1.87 Convertible pesos.
Important note. US dollars are not now accepted in Cuba and there is a 10% charge to exchange them. Cash and travellers cheques should be taken in Euros.
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