CUC vs Pesos

[Artist]

So as i understand there are 2 currencies in Cuba, one is the CUC essentially the USD, and then there are Pesos.

But as a tourist you can't get hold of Pesos right?

What if you get a local to exchange you some pesos for CUC? can you then use those pesos without any problems?

And finally and most importantly, if you walk into a cigar shop (LCDH) can you pay in pesos?

Or could you have a local go and buy you some sticks with Pesos?

And will they be cheaper that way?

[rckymtn22]

I would be surprised if you can pay in pesos at a LCDH. The last time I saw the conversion rate a few years ago was 1 cuc =24 pesos so you would have to have a ton of pesos to get a expensive box.

[riazp]

1 cuc = 25 MTN (local pesos known as moneta nacional) You can you MTN to buy street food and stuff like that, but for cigars you need to walk around with a big wad of cash. I've only used CUC in cuba. I just give 1 cuc if a drink is 25 mtn or something like that

[Artist]

So any locals that want to buy cigars at LCDH has to pay in CUC?

Sounds unreasonable, and also is there really some money to save say IF they would let you pay in Pesos?

[riazp]

So any locals that want to buy cigars at LCDH has to pay in CUC?

Sounds unreasonable, and also is there really some money to save say IF they would let you pay in Pesos?

I doubt the locals can afford cigars at the LCDH....they buy peso cigars.

For example. a 4 cuc custom is 100MTN. Quite pricy for a local

[Mercurios]

No, it wont be cheaper. As people mentioned before, 1cuc = 25 pesos. Some stores have two price tags, one for each currency. Technically you can exchange cucs to pesos, but at the end of the day, you will spend the same amount of money...

[avitus]

Locals do not shop at LCDH considering average salary ~$20 a month.

However, if they manage to earn some CUCs, say, from you, they could spend it at LCDH or at any other special stores accepting CUCs only (electronics and other imported stuff).

p.s. By the way, as I know cuban government is going to get rid of CUC because its really pain in the a$$ to manage two currencies.

[moryc]

Based on what I have heard from the locals there are certain items that they pay with Pesos and certain items they have to pay in CUC. Shoes is an example of an item that they have to pay for in CUC; they get paid in Pesos and then have to buy CUC to buy a pair of shoes. This is just basing on the conversations I had with the locals, how much truth is in that I don't know.

[El Presidente]

Good luck trying to get rid of your pesos readily if you are a tourist

Be a little bit careful when receiving change at a late night bar that they do not throw some Peso notes in there.

Outside of the occasional ice cream, and maybe some peso cigars, I have found it hard to get rid of them. Handy to give out to professional street beggars. However their eyes can't hide the disappointment that it is not CUC.

[Artist]

Interesting info, a friend that went there recently say that they flat out refuse to take pesos from tourists.

For eg at restaurants they have one CUC and one Pesos menu..

Oh well failed attempt at a bargain.

Nevertheless, granted that most of the locals dont buy cigars at LCHD, there must be some well heeled locals around that can afford such things, and i guess they pay in CUC then.

[oliverdst]

So as i understand there are 2 currencies in Cuba, one is the CUC essentially the USD, and then there are Pesos.

But as a tourist you can't get hold of Pesos right?

What if you get a local to exchange you some pesos for CUC? can you then use those pesos without any problems?

And finally and most importantly, if you walk into a cigar shop (LCDH) can you pay in pesos?

Or could you have a local go and buy you some sticks with Pesos?

And will they be cheaper that way?

My little experience and based on what I hear I would tell you to forget CUP (pesos).

With one currency scams are everywhere. If you try to work with 2 currencies I am sure you will lose money.

Last november I was close to Hotel Comodoro and saw a supermarket and a kind of restaurant in front of it. I was thirsty so I ordered something to eat and some beers.

When I was about to leave I asked the waiter if non Cubans were allowed to buy in the supermarket (I was thinking about the CUC/CUP issue). He said there was no problem.

So I bought some things (see receipt in CUC) and when I was at the cash register the cashier asked if I was going to pay in CUC or CUP. All the tags in the products were in CUC and CUP.

Like Mercurios said some places, like the supermarket, have the tag with both prices.

One Hoyo de San Juan - 9.75 CUC's or 243.75 CUP's

With this 1/25 CUC/CUP currency at least is easier to know how much one box of 25ct costs (one single cigar in CUP = the whole box in CUC)

[oliverdst]

BTW, forget currency 1 USD = 1 CUC.

1 EURO = 1 CUC is more real. At least it was during last november.

[shortsqueeze]

Pesos good for a milk shake and pan con bistec after a hard day of drinking and smoking

[Ryan]

Tourists can use local pesos for lots of things, it's not illegal.

I've used pesos ("moneda nacional", "mn" or cup) before to get buses etc.

Mostly though, tourists never need to see mn.

As Prez says, be careful of scams when receiving change.

I went to buy some peso cigars once at a booth on Calle Obispo. The guy in the booth wasn't looking at me when I asked in spanish for the 25 peso cigars, the reply was "$1", then he looked at me "$6 no $10"!. 1000% inflation in about 4 seconds.

For things like museums/galleries/ballet/baseball etc., tourists normally pay in cuc, locals in cup.

So while the ballet might be $15, I pay $15, locals pay 15 cup or about 60 c. That's fair to me.

When it gets really bizarre though (and in my opinion is one of the worst economic f-ups in Cuba) is how the State sector values 1 cuc = 1 cup while tourism, exchanges, everything else it's 1 cuc = 25 cup.

While this will almost certainly not affect any of us here, how any business gets done in Cuba because of this, I have no idea.

A good recent explanation here. It's something that probably very few people outside Cuba know about.

http://www.havanatimes.org/?p=116425

Here's an example, in a quote from the article above, to show how messed up it is because of the official 1:1 rate.

"A Cuban government business person told me of yet another economic distortion produced by the country’s different exchange rates. He is forced to bring a technician from abroad to repair his equipment, at a cost of US $ 8,000, when a self-employed technician in Cuba would do the same job for 30,000 pesos (around US $ 1,500).

The problem is that Cuba’s self-employed can only charge in pesos, and the State applies the 1 to 1 exchange rate, meaning that the technician appears to be receiving US $ 30,000. This fictitious exchange rate forces State companies to pay 7 times more for a European technician, who charges in hard currency."

[The Privateer]

I think there's needless mystique surrounding local pesos. It's widely available from most money changers, and as long as you're an alert traveler and not your first time in Cuba, no harm in having some with you (about 3 cuc worth is plenty).

Depending on your style of travel of course. If you hang out at the Nacional veranda all day (damn I miss that), no need to bother. On the other hand, I've used them for: local fixed-route share taxis, snacks from kiosks, peso cigars etc.