Cuba spending and money conversion

[darienill]

Cubamoney exchange.

The best way to explain it is by my example. Starting withUSD.

I booked a tour on line and was quoted the price as 130 CUC (Cuban Peso) or 130 Euro or 150 USD payableafter the tour.

The current quotes for Euro's was about 1.12 USD for 1 Euro.

 

The CUC is pegged to the USD. You can only get CUC's in Cuba and onlyspend them there. If you try to exchange a USD in Cuba there is a 10% government feeimposed along with the usual 3% transaction so for each dollar you would get.87 CUC.

 

I bought Euro's at home at a rate of 1 Euro for 1.15 USD. SoI paid 3% over the 1.12 exchange rate. So 130 Euro cost me 150 USD.

When I figured the tour would cost me 130 Euro that I boughtfor 150 USD , or if I bought CUC's at the rate of 1.08 CUC's per Euro whichreflects a 3% fee from the 1.12 exchange rate, then the tour would cost me 140USD even with all the fees. So I exchanged the Euro's for CUC's figuring theextra 10 CUC's would go toward the tip.

 

So for all I spent in Cuba was about 400 USD. Tour, tip, lunch, cigars,coffee. By buying Euro's then CUC's I saved about 40 USD which went to the tipfor the guide and driver.

 

 

Tour was $140, tip $40, lunch $35, cigars (15) $150, 1 lbcoffee $15. Misc $20.

Pedicab was $4 for 2. 47 chevy cab ride was $5. museum entrance was $7each. I got back to the pier with 16CUC's left and bought a pound of coffee for 15 CUC's . The cab driver got allthe loose change.

Cuba money exchange.doc

[easyboy]

Smart! Thanks for the money saving tip!

[victory2020]

Is changing for Canadian $ any benefit over Euros?

[darienill]

Is changing for Canadian $ any benefit over Euros?

Not that I could tell. Just avoid bringing USD.

[victory2020]

Not that I could tell. Just avoid bringing USD.

Thanks.