Exchange US dollars to Cuban Pesos

IS it wise to convert all US dollar travel money to pesos? then convert to Cuban money once I get there? Also what are the hours of these exchanges places I fear if i arrive to late i will not have any money to pay for hotel or meals. Thanks in advance for your help!

ANSWER by Vic webmaster havana-guide.com
Do NOT use US dollar in Cuba! Since 2004 the USD is no longer accepted as currency and replaced by the CUC (peso convertible)(100 USD equals 92.5 CUC January 2010). Today you can only exchange USD in Cuban banks and Cadeca's (offical exchange bureaus.) and you pay an extra duty of 10%. Example: when exchanging 100 USD, you start with 90 USD before the exchange!
When you have USD exchange them before in Canadian dollars or Euro's. Note that credit cards (Visa, Mastercard) are not accepted when issued in the USA. Most exchange offices have late business hours, especially on the airports and in the hotels.(I think most are open till 10pm) In the major hotels they will exchange your money. Note that banks have better exchange rates than hotels. read more about

Money in Cuba