Cuban Currency
One slightly confusing thing for visitors to Cuba is that the country operates two currencies side by side.These two currencies are the Cuban Convertible Peso (CUC) and the Cuban Peso (CUP).In theory, any visitor to Cuba need only be concerned with the Cuban Convertible Peso. This is the currency that most tourists will use during their stay. The Convertible Peso is pegged against the US Dollar at a rate of 1 for 1, although you will incur a 3% commission charge when converting from other currencies into Convertible Pesos. I believe that a further commission charge is incurred if you change US Dollars into Convertible Pesos.At the time of our visit in November 2011, one GBP was equal to about 1.51 Convertible Pesos.The Cuban Peso is worth much less than the Convertible Peso and is predominantly used only by locals. In fact, there are 25 Cuban Pesos to 1 Convertible Peso.There is nothing...
