CUP – Cuban Peso

CUP is an international currency code (ISO 4217) for Cuban Peso – also known as Cuban National Peso or Moneda Nacional. Cuban Pesos is one of two official currencies used in Cuba – the other being CUC – Cuban Convertible Peso. Wages of Cuban nationals are in full or in bigger part in CUP – Cuban Peso. Most goods and services available for Cuban citizens are priced in CUP, including market food and vegetables, public transportation, as well as some street refreshment (pizzas, sandwiches, freshly squeezed juices, etc.). All tourism related goods and services as well as more luxurious items are only available in CUC. National Peso is subdivided into 100 centavos.

CUP Value – How Much is it Worth?

1 CUC = 24 CUP

If you have Cuban Convertible Pesos and would like to exchange them for Cuban National Pesos, you will get 24 CUP for each 1 CUC. If on the other hand you would like to sell Cuban National Pesos and get Cuban Convertible Pesos, you will get 1 CUC for 25 CUP.

Cuban Pesos Exchange Rate

Note – you can not exchange foreign currency for Cuban Pesos. Only Cuban Convertible pesos. Te check out exchange rate for Cuban Convertible Pesos, go to CUC Page.

Do Tourists use Cuban Pesos?

Generally no. As a tourist you will most likely never encounter CUP currency, nor you will have to deal with it. However if you decide to explore a little bit more of Cuba and get off the beaten path, having Cuban Pesos could be beneficial. For example if you were to take a public transport bus in Havana, the charge for that ride is $1 CUP – if you don’t have Cuban Pesos, you will have to pay in Cuban Convertible Pesos (CUC) which ends up being much more. Also, if wander into small towns that are not touristy, you will have small pizza places that charge as little as $5 CUP per pizza. That’s an equivalent of one Canadian quarter.

Places that accept CUP will also accept CUC, so even if you don’t have any Cuban Pesos you will still be able to pay for their items. However you always end up overpaying so having CUP readily available could be beneficial. One can easily get by with CUC only, even off the beaten tourist path.

Cuban Pesos Scams

While most visitors to Cuba will not encounter any problems, it is essential to get familiar with both currencies as it is a common practice among Cuban conmen to accept payment in Cuban Convertible Pesos (CUC) and give change in Cuban National Pesos (CUP). You will be getting face value, but actual value of CUP is mere 1/24th of CUC so you will get ripped off big time. Get familiar with Cuban money to avoid this scam.

Where to Buy Cuban Pesos?

Just as it is with Cuban Convertible Pesos, you can only purchase Cuban Pesos in Cuba. This currency is not recognized in any other country and is not available in any other country. In order to buy CUP, you need to visit one of the banks (Banco Metropolitano) or exchange offices (Cadeca) in Cuba.

It is worth finding up front whether location you are at does exchange CUC for CUP as not all of them do, but employees will gladly tell you which location does this exchange. Exchange offices that do exchange Cuban Convertible Pesos into CUP are typically very busy with long line of people waiting to be served. Cuba is notorious for that. You will often see big crowds of people in front of banks and Cadeca exchange offices that do CUC to CUP conversions are just the same. Locals compete in earning business from tourists and get paid in CUC. They keep some of this (it’s a hard currency for them and many articles are only available in CUC) and exchange the rest to have for basic items and services (all goods and services available in CUP are much cheaper).

Pictures of Cuban Pesos

Front and Back of Cuban Pesos - $3 CUP, Photo by Pppjoker, Wikipedia

More pictures of other denominations coming soon

CUP Coins

CUP coins are available in following denominations:

Centavos (cents):
1, 5, 10, 25 and 50

Pesos:
1 and 5

CUP Banknotes

CUP banknotes are available in following denominations (in pesos):

1, 3, 5, 10, 20, 50 and 100 pesos

Further Reading:

• Cuba Currency Complete Guide
• CUC – Cuban Convertible Peso