How Much Cuban Currency Do We Need?

[luv2travel06]

We will be visiting Havana and Cienfuegos soon on the Veendam. We have booked ship excursions for both days.

 

How much Cuban currency do we need for tips?

 

Also, we have no idea what prices might be for souvenirs, etc.

 

What would be a reasonable amount of Cuban currency have on hand?

[St. Louis Sal]

This is a hard question because every traveler is different. I exchanged $300 US. Remember to ask for smaller bills because if you don't buy something early on you will not have small bills for tipping. And ask for a few $1 or 50 cent pesos to start you off for the bathroom "guardians." You will get a welcome to Cuba sheet from the ship that has basic information including suggested tipping. Tour guide 5-7 CUCs, Bus driver 3-5 CUCS, meals 3-4 CUCs or 10% of the bill.

 

Some people bought a lot of cigars, rum, coffee, art work etc. We did not. Partly that was due to having almost no time to shop in Havana on our particular excursion. Our timing got messed up and we only had time for a bathroom break at the Art Market. We could have walked back to the market afterwards but frankly we were tired and we wanted to get ready for the cabaret that evening.

 

There is a tiny bit of shopping at the ships terminal. We bought cigars there, Romeo y Julieta, each encased in a metal container. I cannot remember the price but I want to say most cigars ranged from $8-$15, some were higher. Our daughters were on a different excursion where they spent more time at the Art Market (my daughter bought a caricature and a purse, around $10 each.) They also learned about rum, cigars and coffee and had opportunity to buy all three. Not sure about the rum price, daughter said it was very reasonable. I saw coffee at the terminal shop ranging from $15-35 depending on package size.

 

Our shopping in Cienfuegos was divided between the botanical garden gift shop, street vendors off the plaza in the old part of town, the hotel where we ate lunch and vendors on the pier. I found most of the items to be very reasonably priced and prices are negotiable as well. Because I had not spent much in Havana except for tips I had quite a bit left. I bought bracelets ($5 each) 2 totebags, some carved hummingbirds (saw those also at the botanical garden shop) and a couple of claves. A lot of the items were priced around $5-10.

 

I still had money left and there was quite a line at the exchange although I do not think it would have taken too long. Instead I kept the change and the few $1, and $3 bills for souvenirs and shared my remaining $35 CUC's with my dining room steward, assistant and our yum-yum guy along with some additional US. I figured they would be going back to Cuba and could use it if they got off the ship.

 

So I spent around $250 dollars although that includes the exchange rate of 3% plus the 10% for changing US. It's roughly 87 CUCs per $100 US. I ended up buying 3 cigars, 3 packs of cigarettes, 6 wooden pens ($1 each) and assorted small souvenirs. I have to say I am not a big spender in most ports anyway. I don't buy expensive jewelry or lots of liquor. I do wish I had bought some more small items to share with friends but I also had to pack some of my daughter's rum and that plus my claves added to the suitcase weight.

 

Sorry for the long answer. If you have any questions I'd be glad to answer them. Enjoy Cuba! I thought it was lovely except maybe the bathrooms :)

 

St. Louis Sal

Edited January 21, 2018 by St. Louis Sal
added info

[luv2travel06]

Thanks for all the helpful details!!

 

 

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[vriecke]

Thanks for the information. Where would we go to exchange currency? Before we dock, or in port?

[St. Louis Sal]

Thanks for the information. Where would we go to exchange currency? Before we dock, or in port?

 

There are exchange booths located in the ship terminal in Havana; we were directed there and given time in line before getting on our tour bus. It was quite easy.

 

There is also an exchange booth located in the art market if you discover you need more CUCs. I understand you can also exchange money at banks and hotels but I am not familiar with any locations.

 

Cienfuego has an exchange booth on the dock. This is where most people turned in their CUCs if they had any left before boarding the tender back to the ship.

 

St. Louis Sal

[happicruzer]

All the shop owners had calculators. We gave the dollars at the calculated amount of dollars plus percent. So easy.

 

Loved the leather goods that were available for purchase. Beautiful workmanship. Didn't price, but just exquisite products. In retrospect, wish I’d picked out a pocketbook.

Judy

[St. Louis Sal]

Happicruzer, you are not the only one to say that. Before we went I heard we absolutely had to exchange to CUCs, that no one would accept dollars. But several people mentioned using dollars and that they had no problem!

 

Someone mentioned elsewhere on the boards that a lot of stuff we were told turned out not to be correct. Live and learn I guess, both for us and the cruise line.

 

St. Louis Sal

[Go-Bucks!]

Before we went I heard we absolutely had to exchange to CUCs, that no one would accept dollars.

Depends on where you go. We wandered down back streets of Havana where there were no tourists - no one took dollars. In Cienfuegos, we also went to non-touristy areas (had our hair cut in a small local beauty salon) - again, only took CUC's.

 

If you go to major sites, touristy areas and modern hotels then maybe they do take dollars. But in the strictly local areas where we went, that was not the case; they only wanted local money.

 

We tipped 10%, all except the hair dresser. God love him, he only charged $3 (3CUC) each for a haircut! We felt like that was too little so we each gave him 10CUC and, when he went to get change, we said "no, that's all for you." He had tears in his eyes as he thanked us.

 

We visited 3 cities for 4 total days. Got $500 Canadian changed into CUC's; spent $300.

[islandwoman]

I am not the OP, but I would like to thank you all for the useful and detailed information. DH and I will be sailing to Cuba in May. We're stopping in 3 ports: Havana, Cienfuegos, and Santiago de Cuba. We will be taking Canadian cash to exchange for CUC's and are currently trying to decide how much.

If I may piggy-back onto this thread, I'd like to ask a few more questions:

How much should I figure for a bottle of rum?

How much should I figure for lunch and/or a coffee or an alcoholic drink in a cafe?

St. Louis Sal, When you quoted prices in $, were you referring to US$ or CUC's? I see on XE currency converter that US$1 = 1 CUC, but I assume that that doesn't take into account the 10% Cuban tax on converting US currency.

[lbtnewcruiser]

@ islandwoman, great questions, I am looking for those answers as well

[Go-Bucks!]

I am not the OP, but I would like to thank you all for the useful and detailed information. DH and I will be sailing to Cuba in May. We're stopping in 3 ports: Havana, Cienfuegos, and Santiago de Cuba. We will be taking Canadian cash to exchange for CUC's and are currently trying to decide how much.

If I may piggy-back onto this thread, I'd like to ask a few more questions:

How much should I figure for a bottle of rum?

How much should I figure for lunch and/or a coffee or an alcoholic drink in a cafe?

St. Louis Sal, When you quoted prices in $, were you referring to US$ or CUC's? I see on XE currency converter that US$1 = 1 CUC, but I assume that that doesn't take into account the 10% Cuban tax on converting US currency.

My friend and I visited the same ports as you will, with a 2 day and overnight in Havana. We were on Oceania. I loved every minute of the trip but my favorite city was Cienfuegos, then Havana and lastly Santiago de Cuba. We also took Canadian cash although we're Americans. We each spent about $300, including the exchange fees, but we didn't buy alot of stuff and did more DIY touring rather than paying a tour company.

 

I bought some rum for my son-in-law and it cost 5CUC ($5). Most liter bottles seemed to be between 3-5CUC. Cigars I bought cost 20CUC for 5. We ate in small, locally run cafes (paladars) and meals cost about 10CUC. One day we had lunch that included creole shrimp (we got about 25 shrimps), yellow rice, cucumber/tomato salad, and flan for dessert. I had a delicious Cuban coffee (like a latte) for 2CUC. I don't drink alcohol.

 

A 3% fee is charged when you initially exchange your money if it's anything except American dollars. American dollars are charged the 3% fee plus a 10% penalty for the exchange to CUC's. For $100 Canadian we got 97CUC, but for American dollars we would have gotten 87CUC. They also charged the 3% fee when converting back, no matter the currency type. We converted our CUC's back into American dollars and were charged just the 3% fee. As far as the value of a CUC, it is tied to the value of the American dollar so it's easy for us to tell what something cost. 1CUC=$1.

 

Enjoy your trip!! :D

[St. Louis Sal]

More comments:

 

When I referred to prices I was quoting CUCs which are 1-1 with American dollars but that doesn't take into consideration the cost of exchange.

 

My daughter mentioned that the most expensive rum she bought was $20 CUCs.

 

Looking back, besides buying more small souvenirs, I also wish I had tipped more generously. Although, as someone I met mentioned, there are no starving artists in Cuba, it is obvious that tip income is important to them. Also someone had talked about bringing items with them like over the counter meds and personal care items. I sort of dismissed that but I think there really is a need there. Especially if you are touring on your own, I think this might be a really good idea.

 

St. Louis Sal

[islandwoman]

Thank you, Go-Bucks and St Louis Sal.

[soccersharon]

Thank you, Go Bucks! It'll be great to bring my Canadian money, and get a great exchange!

 

 

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[pbenjamin]

My friend and I visited the same ports as you will, with a 2 day and overnight in Havana. We were on Oceania. I loved every minute of the trip but my favorite city was Cienfuegos, then Havana and lastly Santiago de Cuba. We also took Canadian cash although we're Americans. We each spent about $300, including the exchange fees, but we didn't buy alot of stuff and did more DIY touring rather than paying a tour company.

 

I bought some rum for my son-in-law and it cost 5CUC ($5). Most liter bottles seemed to be between 3-5CUC. Cigars I bought cost 20CUC for 5. We ate in small, locally run cafes (paladars) and meals cost about 10CUC. One day we had lunch that included creole shrimp (we got about 25 shrimps), yellow rice, cucumber/tomato salad, and flan for dessert. I had a delicious Cuban coffee (like a latte) for 2CUC. I don't drink alcohol.

 

A 3% fee is charged when you initially exchange your money if it's anything except American dollars. American dollars are charged the 3% fee plus a 10% penalty for the exchange to CUC's. For $100 Canadian we got 97CUC, but for American dollars we would have gotten 87CUC. They also charged the 3% fee when converting back, no matter the currency type. We converted our CUC's back into American dollars and were charged just the 3% fee. As far as the value of a CUC, it is tied to the value of the American dollar so it's easy for us to tell what something cost. 1CUC=$1.

 

Enjoy your trip!! :D

 

No, you did not get 97 CUC for $100 Canadian. The CUC is on par with the US Dollar. At today's rate the Canadian dollar is worth 81 cents USD. For $100 Canadian you would get 81 CUC less the 3% giving you 78.57 CUC.

[ddoll]

No, you did not get 97 CUC for $100 Canadian. The CUC is on par with the US Dollar. At today's rate the Canadian dollar is worth 81 cents USD. For $100 Canadian you would get 81 CUC less the 3% giving you 78.57 CUC.

 

So what is the best way to get the most out of the American dollar when you exchange for CUC's?

[islandwoman]

I can't answer your question directly, but I can tell you that on January 16, I got $300 CDN from HSBC in Calgary for $243.68 US. (Today's XE exchange rate is US $1 = CAD $1.2311) I think that if I take those 300 Canadian dollars to Cuba and exchange them for CUC's at today's XE exchange rate of 1 CAD = 0.812391 CUC, it would give me about 243.69 CUC's minus 3% = 236 CUC's. On the other hand, if I take $243.68 US dollars to Cuba and exchange those for CUC's, the exchange rate would be 1:1 minus 13% = 212 CUC's.

 

Depending upon the exchange rate you can get for your US$ into CAD and any fees you'd have to pay, it might be better to exchange US$ for CAD before going to Cuba. Please feel free to check my assumptions and my calculations.

[FredZiffle]

So what is the best way to get the most out of the American dollar when you exchange for CUC's?

Interesting question, so I did the math.

 

Using a currency exchange at an airport in the US, you can exchange $100 US for $109.46 CAN. $109.46 CAN is worth $88.87 CUC, but you've also got to factor in the charge of 3% to convert to CUC, leaving you with $86.20 CUC.

 

If you just wait and covert the $100 US in Cuba, you'll pay the 3% fee plus the 10% penalty, so it will be worth $87 CUC.

 

If you're Canadian and already have Canadian currency, you're getting $97 CUC for the Canadian equivalent of $100 US (currently $123 CAN) , but if you're American and have to first convert to Canadian currency, the initial conversion fee makes it a losing proposition.

 

I have no idea how islandwoman managed to convert $US to $CAN without paying any sort of conversion fee, but I'm not sure that's a realistic expectation for most of us.

Edited January 28, 2018 by FredZiffle

[pbenjamin]

I can't answer your question directly, but I can tell you that on January 16, I got $300 CDN from HSBC in Calgary for $243.68 US. (Today's XE exchange rate is US $1 = CAD $1.2311) I think that if I take those 300 Canadian dollars to Cuba and exchange them for CUC's at today's XE exchange rate of 1 CAD = 0.812391 CUC, it would give me about 243.69 CUC's minus 3% = 236 CUC's. On the other hand, if I take $243.68 US dollars to Cuba and exchange those for CUC's, the exchange rate would be 1:1 minus 13% = 212 CUC's.

 

Depending upon the exchange rate you can get for your US$ into CAD and any fees you'd have to pay, it might be better to exchange US$ for CAD before going to Cuba. Please feel free to check my assumptions and my calculations.

 

You got it right. If you exchange to Canadian dollars (or Euros or Mexican Pesos or...) your savings are essentially the 10% that you don't have to pay with USD, minus the cost of exchanging your USD to CAD. If you can manage to exchange without a commission charged, your savings are 10%. The only other variable is the exchange rate which may go up or down in the period between you purchase of foreign currency and your purchase of CUCs.

 

Depending upon how much you exchange it may or may not be worth the trouble.

[islandwoman]

I have no idea how islandwoman managed to convert $US to $CAN without paying any sort of conversion fee, but I'm not sure that's a realistic expectation for most of us.

 

I didn't exchange. I took cash out of my Capital One account at an HSBC ATM in Canada. The HSBC fee is included in the figures stated. Capital One doesn't charge an ATM fee and gives a pretty good exchange rate.

[Go-Bucks!]

I didn't exchange. I took cash out of my Capital One account at an HSBC ATM in Canada. The HSBC fee is included in the figures stated. Capital One doesn't charge an ATM fee and gives a pretty good exchange rate.

My bank didn't charge a fee either.

[FredZiffle]

While you are not paying an ATM fee, you are still exchanging one currency for another if your account is with an American bank. You will get the best rates using an ATM, but it won't be as good as the actual exchange rate. It may be good enough to make it a better deal than using $US in Cuba, but even that presupposes that you live in America, yet have easy access to an ATM in Canada.

 

For most of us, you'll either need to use an airport-based exchange or order $CAN from your bank. Using an airport currency exchange won't save you anything over just exchanging $US for $CUC in Cuba. I just ran the numbers with Bank of America, and, after fees, I'd be getting an effective rate of $1.09 CAN to $1 US, which is almost identical to the rate you'd get at an airport exchange. So, neither method saves you any money over just exchanging $US for $CUC once you arrive in Cuba.

[SuzCruise]

If you travel internationally very often, you've probably already figured out your best source for foreign currency. Schwab charges no fees of any kind and offers a great rate for obtaining local currency from ATMs when abroad and has worked without issue for us. I've also ordered foreign currency before trips from BOA without any fees charged. You might have a better option for foreign currency in your wallet. And it might not be worth saving the 10% to obtain non USD to you. You certainly don't have to.

 

Back to the original question, we used CUC for everything for our two day stay in Havana, buying cigars, paying our private guide, meals in Paladars, drinks, souvenirs, museum entrance fees, taxi's and tips. We did not pay for our tour in advance. We aren't normally shoppers but were trying to spend money with the locals. We exchanged about $600 CAD (we got extra from an ATM with our Schwab account during a trip to Canada the month before our Cuban cruise) the first day and then once we determined what our spending was like exchanged some more USD for the next day. There are banks where you can exchange USD at the same exchange rates you'll see in the cruise terminal around old town, so you can always get more. We did not try to use USD anywhere for any purchase, as it is so easy to change money at the cruise terminal. I would only think that would arise if you ran out of CUC and were desperate. I would find it rude if a visitor to my hometown walked right past currency exchange desks and then paid me in their foreign currency, expecting me to exchange their money.

 

 

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[FredZiffle]

If you travel internationally very often, you've probably already figured out your best source for foreign currency. Schwab charges no fees of any kind and offers a great rate for obtaining local currency from ATMs when abroad and has worked without issue for us. I've also ordered foreign currency before trips from BOA without any fees charged. You might have a better option for foreign currency in your wallet. And it might not be worth saving the 10% to obtain non USD to you. You certainly don't have to.

 

Back to the original question, we used CUC for everything for our two day stay in Havana, buying cigars, paying our private guide, meals in Paladars, drinks, souvenirs, museum entrance fees, taxi's and tips. We did not pay for our tour in advance. We aren't normally shoppers but were trying to spend money with the locals. We exchanged about $600 CAD (we got extra from an ATM with our Schwab account during a trip to Canada the month before our Cuban cruise) the first day and then once we determined what our spending was like exchanged some more USD for the next day. There are banks where you can exchange USD at the same exchange rates you'll see in the cruise terminal around old town, so you can always get more. We did not try to use USD anywhere for any purchase, as it is so easy to change money at the cruise terminal. I would only think that would arise if you ran out of CUC and were desperate. I would find it rude if a visitor to my hometown walked right past currency exchange desks and then paid me in their foreign currency, expecting me to exchange their money.

 

 

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I agree 100% with the Schwab suggestion. I would love to know how you managed to avoid fees with BOA for obtaining foreign currency. We are top tier (whatever it's called) with BOA, but still don't get any break on the handling fees for currency exchange.

[SuzCruise]

I agree 100% with the Schwab suggestion. I would love to know how you managed to avoid fees with BOA for obtaining foreign currency. We are top tier (whatever it's called) with BOA, but still don't get any break on the handling fees for currency exchange.

 

 

 

They might not be willing to do it anymore. With no foreign charge credit cards being accepted so widely everywhere, I haven't bought currency before a trip in years. But I just asked (demanded) that they waive the fee. If I recall correctly it did take a manager to make that happen.

 

 

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