how to exchange money in Cuba

by Hazel
(Britain)

Can we get cuban tourist money before we go to Cuba or can we only convert money at the airport. Do Hotels convert at the bank rate?

ANSWER by Vic Webmaster Havana-guide.com

You can NOT get Cuban currency outside Cuba, banks don't exchange Cuban peso convertible (CUC)
because there is no real market value, the CUC (Cuban peso convertible) is not accepted by the foreign banks. You can only exchange your Pound Sterling in Cuba in authorised exchange offices named CADECA or Cuban banks. Major tourist hotels have a small exchange service for the tourists but often the rates in the hotels are less favorable than in the bank or in the CADECA.
Best practice is to exchange a small amount at the CADECA exchange on the airport of arrival.
TIP Count your money carefully, in case of doubt ask for a receipt. Several exchange offices are notorious for short giving. Never exchange money on the streets or in a bar, even with the promise for a better exchange rate. Chances are that you wil get outdated or counterfeit banknotes. For more info read this remarks
Money exchange at Cuban Airport
Money in Cuba
US dollar-Cuban Peso