american or canadian money in Cuba?

by gina
(canada)

Question:

Do cubans prefer American money or Canadian money?

Answer by Vic Webmaster Havana-guide.com

DO NOT USE US dollars in Cuba!
The Cuban Peso Convertible (the Cuban tourist money) has recently 8% devalued against the US dollar and all other foreign currencies, but.... the
10% tax penalty on the US Dollar still exists.
The USD is only accepted in Cuban banks and Cadeca
(= official exchange offices) but to discourage the use of the USD, the extra 10% tax on the exchange is still effective, so you will lose 10%
of your money when using USD.

Use your Canadian dollars and profit from the fact that you will get more CUC's (Peso Convertible) for your CAD.
Read more:
Money in Cuba