Your Cuban convertible pesos aren’t worth anything anymore

Travellers with leftover Cuban convertible pesos won’t be able to use them on their next trip to Cuba due to a new regulation by the Cuban government that came into effect at the end of 2019.

There are two currencies in Cuba: the Cuban peso (CUP) and the Cuban convertible peso (CUC). The latter is for tourists visiting Cuba. Although there’s a ban on leaving the island with convertible pesos, travellers have been known to do so anyway to save them for their next trip.

Your convertible pesos could be seized at the border

Unfortunately, those convertible pesos stashed away in a drawer somewhere for your next tropical getaway are likely worthless, since the Cuban government passed a law on November 16, 2019, prohibiting all import and export of Cuban convertible pesos, regardless of the amount. Cuba’s customs agency warns that people who take the risk of bringing their convertible pesos with them to Cuba could have them seized at the border upon entry.

A traveller from Québec City learned as much at his own expense when 200 convertible pesos he’d purchased at the Québec City airport were seized at the Cuban border, reports Journal de Québec.

Only convert what you need

CAA-Quebec encourages people travelling to Cuba to follow the recommendations fromGlobal Affairs Canada (under Laws and culture) and exchange their Canadian dollars for convertible pesos once they’ve arrived in Cuba, either at the airport or the hotel, converting them back at the end of their trip. Try to calculate the exact amount you’ll need for your trip to avoid having to reconvert convertible pesos back to Canadian dollars when leaving Cuba. If you do end up having to reconvert the pesos, it’s best to do so at the hotel, since the foreign exchange offices at Cuban airports don’t always have Canadian dollars on hand.