Cuba’s currency is known as the peso, CUP, or moneda nacional. The Cuban peso is only good in Cuba. Visitors can purchase Cuban pesos at exchange bureaus (CADECA) with American dollars and other major foreign currencies. The CADECA rate is 1:110.
Cuban banks allow you to purchase pesos at the rate of 1:24. BUT NOT with American dollars – only with major foreign currencies. It is not possible to buy Cuban pesos outside of Cuba. We don’t recommend taking Cuban pesos home except as souvenirs, as they have no value outside Cuba.
Once you purchase Cuban pesos, you will not be able to exchange them back for US dollars or other foreign currencies.