Money in Cuba

by Edwin
(Leeds)

currency conversion and purchasing power in Cuba

How would 750 CuC compare with the average Cuban wage and cost of living in Cuba (per month)?


Answer by Vic Webmaster Havana-guide.com

The easy answer is 750 Cuc equals 18,000 Cup (Peso National also named Peso Cubano) In Cuba exist a dual currency system. The Peso Convertible Cuc is a means of payment for the foreigners and the Peso Cubano for internal use by the Cuban citizens.

All Cuban salaries are paid in Peso Cubano, the lowest wages start at approx. 200 Cup (8 Cuc)
The average Cuban wage is approx. 500 Cup (20-25 Cuc). So you can do yourself the math... 750 Cuc
or 18,000 Cup equals more than 30 years of salary for the average Cuban citizen.

The real situation is more complex
The Cubans have indeed a very low wage but a lot of "social advantages" are free or at a very low cost. They have a monthly ration book for groceries, with this ration book they can buy basic products at low subsidized prices. Medicare and education are free. The cost of housing, electricity, water, gas etc. is very low. The other side of the medal is that Cubans are used to a "simple life" they drink tap water, bottled water is a luxury, the basic daily food is bread, rice and beans, pork or chicken is a luxury. Almost nobody can afford a steak!
But for a foreigner 750 Cuc is not sufficient to live a decent life in Cuba and the purchasing power is approx. the same as a Cuban income if you calculate all costs. Note that a foreigner need housing too in Cuba. The (long term) rent of a room for a foreigner is at least 500-600 Cuc per month. A foreigner is used to drink bottled water, a beer, soft drinks, cigarettes, decent meals, shoes, clothing etc. All this are imported goods and come at "world market" prices. You can only reduce your cost of living by marrying a Cuban citizen, live in her/his house and reduce your expenses to a lower level. By the way being accepted in Cuba is not that easy, you have to proof your solvency and income, have a temporary or permanent residence visa. Permanent residency is only possible when you marry a Cuban citizen. Read more:
Work in Cuba - Residency in Cuba