What is the basic unit of currency for Cuba?

In Cuba, the basic unit of currency is the Cuban Peso (CUP). The Cuban Peso is the official currency used by the local population for day-to-day transactions and is widely accepted across the country. Its currency code is CUP, and it is often represented with the symbol $.

The Cuban Peso is further divided into smaller units called centavos. One Cuban Peso is equivalent to 100 centavos. However, it is important to note that the Cuban Peso is not the only currency used in Cuba.

For tourists and foreign visitors, the Cuban Convertible Peso (CUC) is the primary currency they will encounter. The Cuban Convertible Peso was introduced in the 1990s as a replacement for the US Dollar, which was previously widely used in tourist transactions.

The Cuban Convertible Peso has a fixed exchange rate with the US Dollar, where 1 CUC is equivalent to 1 USD. This makes it easier for tourists to understand and calculate prices during their stay in Cuba.

However, it is important to be aware that the exchange rate for the Cuban Convertible Peso can vary slightly depending on where you exchange your currency. It is recommended to exchange money at official exchange offices or banks to ensure a fair exchange rate.

While the Cuban Convertible Peso is the main currency used by tourists, it is also accepted in certain establishments by the local population. However, most day-to-day transactions and purchases made by locals are conducted in Cuban Pesos (CUP).

When traveling to Cuba, it is advisable to have a mix of both currencies to ensure you can pay for goods and services in all situations. It is also important to keep in mind that credit and debit cards issued by US banks are not accepted in Cuba, so it is necessary to bring sufficient cash with you for your stay.

In summary, the basic unit of currency for Cuba is the Cuban Peso (CUP), which is used by the local population. However, tourists and foreign visitors will primarily encounter the Cuban Convertible Peso (CUC) during their stay.

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