Dollars, Canadian and CUCs in Cuba

by Jim
(Boston )

Is it better to convert my US money into Canadian or Euros before I go to Cuba or does this conversion and conversion on the return eat up all the savings earned in order to avoid the 10% tax on US money?


Anwser by Vic Webmaster Havana-guide.com

I think the best you can do is to exchange US dollars for Canadian dollars, the conversion and transaction fee may vary but is certainly less than the 10% tax on the USD.
Notice that in Cuba they will first deduct the 10% on your USD and than convert in CUC, so you will lose at least 12-13% or more. A major problem for a US citizen is that you can't use your credit cards in Cuba. So take enough cash with you but check before with the OFAC regulations to see what is allowed.

When you import more than 5,000 USD into Cuba (or the same value in other currencies) you have to fill out a declaration form at the Cuban customs.
Have a nice trip!