In Cuba there are two types of currency circulation, the Cuban Peso or simply "Weight" (CUP) and the Cuban Convertible Peso or "Dollar" for Cubans (CUC).
The exchange rate of two currencies is as follows:
1 (USD) = 1 (CUC)
Note that there is a 10% penalty charged when exchanging USA dollars cash, so, you will only receive 87 centavos (cents) CUC for one USA dollar when changing the money, allowing for the 10% penalty and a 3% currency exchange fee. Then,
1 (USD) = 0.87 (CUC)
1 (CUC) = 24 (CUP)
On the island, all payments for tourism establishments are made in (CUC) (Cuban Convertible Peso), which can be purchased at the Casas de Cambio (CADECA) in banks, at airports, and hotels.
We encourage visitors to come to Cuba will change some of your money in (CUC). Then, as you need, it may change the rest. It is also recommended to change some money to Cuban Pesos (CUP), because sometimes you can find products that are sold in CUP as vegetables, fresh fruits, street food like sandwiches and pizza, drinks and other small purchases are all incredibly cheap.
You can get cash through ATMs. In Cuba, accept credit cards Eurocard, Cabal, BFI, Transcard, Visa, MasterCard and Amigo Travel Card.
Change some money to CUC before leaving the airport, to pay the taxi and first expenses. The rate of change at the airport can be more expensive, do not change too much.
Both types of Pesos, CUC and CUP, are legal tender in Cuba and both are completely available to anyone – including foreigners – with no restrictions whatsoever
When you leave return, you can recanjear's (CUC) which has an excess to the currency of your country, but remember, there's a bank tax when you make the changeover.
Cuban Peso (CUP)