Cuban Currency in 2026: Exchange Rates, Cash and Which Cards Still Work
Cuba runs on one legal currency, the Cuban peso (CUP), but in practice visitors in 2026 live in a cash economy priced against the US dollar and the euro. Since June 2026, Visa and Mastercard payments have been suspended across the island, and US-issued cards have never worked there. If you are traveling to Cuba now, bring all the cash you will need, in clean bills, and plan to change only part of it into pesos.
The other big change is the exchange rate. In December 2025 the Central Bank of Cuba launched an official floating rate for individuals and private businesses, and the peso has been sliding fast ever since: from 410 CUP per dollar at launch to roughly 700 in October 2026, while the street rate is near 790.
Updated October 14, 2026
Cuban Money at a Glance
| Question | Short answer (October 2026) |
|---|---|
| Official currency | Cuban peso (CUP), also written MN (moneda nacional) |
| Does the CUC still exist? | No. It was retired on January 1, 2021 |
| Official floating rate (individuals) | About 702 CUP per $1 (USD) on October 13, 2026 |
| Informal (street) rate | About 790 CUP per $1 and 885 CUP per €1 on October 14, 2026, per elTOQUE |
| Do Visa and Mastercard work? | No. Suspended since June 3, 2026, whatever country issued the card |
| Do US debit or credit cards work? | No |
| Best cash to bring | US dollars or euros, in good condition, with plenty of small bills |
| Cash declaration | Required above the equivalent of $5,000 |
| Largest peso bill | 20,000 CUP (in circulation since September 16, 2026) |
The Cuban Peso (CUP): Bills and Coins
The Cuban peso is the only legal currency. You will see prices marked CUP or MN; both mean the same thing. The old convertible peso (CUC), the “tourist money” many guidebooks still mention, was eliminated on January 1, 2021, when Cuba unified its currencies. If someone offers you CUC, walk away.
Banknotes
Peso bills come in 1, 3, 5, 10, 20, 50, 100, 200, 500 and 1,000 CUP, plus four large notes added in 2026 as inflation pushed prices up:
| Note | In circulation since | Portrait |
|---|---|---|
| 5,000 CUP | April 1, 2026 (Havana first, then other provinces) | Celia Sánchez |
| 2,000 CUP | 2026, rolled out gradually | Mariana Grajales |
| 10,000 CUP | September 16, 2026 (Havana first) | Haydée Santamaría |
| 20,000 CUP | September 16, 2026 (Havana first) | Vilma Espín |
The Central Bank announced the 2,000 and 5,000 notes (in Spanish) in March 2026, and the 10,000 and 20,000 notes followed in September. For scale: a single 20,000 CUP bill is worth more than six months of Cuba’s minimum wage of 3,210 CUP.
Coins
Coins come in 5 and 20 centavos and 1, 3 and 5 pesos. At current prices they are almost worthless, and you will rarely get them as change.
Cuba’s Exchange Rates, Explained
Cuba does not have one exchange rate. It has three official ones and a street rate, and which one applies depends on who you are.
| Rate | CUP per $1 | Who uses it |
|---|---|---|
| Segment I (fixed) | 24 | State allocations through the government’s central fund |
| Segment II (fixed) | 120 | Certain state entities that earn foreign currency. No longer available to individuals |
| Segment III (official floating) | About 702 (Oct. 13, 2026) | Individuals, private businesses, exporters. This is the official rate that applies to you |
| Informal market | About 790 (Oct. 14, 2026) | Most private transactions on the street |
The floating rate started on December 18, 2025. According to OnCuba News (in Spanish), the 24 and 120 rates stayed in place for the state sector, and individuals must now use the floating rate for legal currency operations. The Central Bank publishes it daily on its exchange rate page (in Spanish). Exchange houses (CADECA) then add a margin: on launch day, with the reference at 410, CADECA bought dollars at 401.80 CUP and sold them at 418.20.
How Fast the Peso Is Falling
| Date | Official floating rate (CUP per $1) | Informal rate (CUP per $1) |
|---|---|---|
| December 18, 2025 | 410 | 440 |
| September 10, 2026 | 651 | About 680 |
| October 13–14, 2026 | About 702 | About 790 |
Two takeaways for travelers. First, the gap between the official and street rates is much smaller than it was before 2026, when the official rate was 120 and the street paid over 300. Second, the peso is losing value week by week, so pesos you buy on day one buy less by day ten. Check the live street rate at elTOQUE (in Spanish), the independent outlet Cubans use as the reference.
Cards in Cuba: What Works and What Doesn’t
This is where most English-language guides are out of date. On June 3, 2026, Fincimex, the company that processes international card payments in Cuba, suspended all Visa and Mastercard operations. The foreign bank that cleared those payments cut ties after Executive Order 14404, signed May 1, 2026, threatened sanctions on foreign firms dealing with GAESA, the military-run conglomerate that owns Fincimex. As of October 2026 we found no report that the service has been restored.
| Payment method | Status in October 2026 |
|---|---|
| US-issued debit or credit cards | Do not work (US embargo) |
| Visa or Mastercard issued in Canada, Europe, Mexico, etc. | Suspended since June 3, 2026 |
| UnionPay and Mir | Reported as still working; acceptance not guaranteed everywhere |
| Clásica card (Cuban prepaid card in dollars) | Works |
| Tropical card (BANDEC prepaid card) | Works; promoted to visitors after the suspension |
| Cash in USD or EUR | Works; the safest option |
The Clásica Card
The Clásica is a prepaid plastic card launched in 2024 by Cimex, a GAESA company. It is not linked to a bank account and carries no name. Some state hotels, bars, shows such as the Tropicana, and airport services have asked foreign visitors to pay with it instead of cash. You buy and load it at banks, CADECA offices or some hotel desks.
In March 2025, 14ymedio reported (in Spanish) that the card cost $4, plus a $1 fee per load, so a traveler who handed over $80 got $75 of credit. Fincimex said unused balances of up to $100 could be refunded at departure with a boarding pass, but travelers described the refund as unreliable. Load only what you expect to spend.
Note for US travelers: Fincimex has been on the State Department’s Cuba Restricted List since 2020, and the Treasury designated GAESA under the new executive order on May 7, 2026. If you travel under an OFAC general license, check whether a payment would be a direct financial transaction with a restricted entity before you use a GAESA-issued card.
Rules for US Citizens and Residents
Tourist travel to Cuba is still banned by US law. Americans can go only under one of the 12 OFAC travel categories, and the State Department’s Cuba page is clear on money:
- US credit and debit cards do not work in Cuba. Bring enough cash for the whole trip.
- Declare cash above the equivalent of $5,000 when you arrive.
- You can leave with up to $5,000 equivalent. Taking out more requires proof that the cash came from a Cuban bank.
- Pesos cannot be exchanged outside Cuba. Spend them or change them back before airport security.
- Airlines flying to the US include departure taxes in the ticket, but extra fees such as baggage may not be payable in US cash.
The State Department page was last updated in May 2025, before the card suspension and the floating rate, so treat its notes on dollar payments as background. For the categories of legal travel, see our guide to whether US citizens can travel to Cuba.
Dollars, Euros and Where You Can Spend Them
Cuba has partially re-dollarized. Government “dollar stores” sell imported goods for foreign currency, and many private restaurants, paladares (private restaurants in homes) and casas particulares (licensed guest houses) quote prices in dollars or euros.
That got a legal push on September 10, 2026, when Resolutions 102 and 103 in the Official Gazette allowed private businesses, cooperatives and the self-employed to accept foreign cash from customers and deposit it in their own currency accounts. The Rio Times noted the rules do not require dollar pricing but are expected to spread it. State venues are a different story: some have refused cash and asked for the Clásica card instead.
Dollars or Euros?
Both work. On the street, a euro bought about 885 CUP and a dollar about 790 on October 14, 2026, so neither carries a penalty. Bring whichever you hold, and avoid converting dollars to euros at home just for Cuba.
What About MLC?
MLC (moneda libremente convertible, a dollar-pegged balance on Cuban bank cards) was the government’s foreign currency system from 2019. It is fading. MLC balances now trade well below real dollars: elTOQUE listed MLC at about 515 CUP against 790 for a dollar bill on October 14, 2026. As a visitor you have no reason to buy MLC.
Where to Change Money
- CADECA exchange houses. State-run, including at the airports. They use the official floating rate with a margin. Expect lines and lunch-hour closures.
- Banks such as BANDEC and BPA. Same rate system, each sets its own margin.
- Your casa particular or a trusted private business. Many will change money near the street rate. This is common but informal; the official channels are CADECA and banks.
- Street changers. Avoid them. Short-changing, counterfeit or old bills and CUC tricks are the usual scams.
Change small amounts at a time. Because the peso keeps losing value, holding a large stack of CUP costs you money. Keep most of your budget in dollars or euros and pay in foreign cash wherever prices are already quoted that way.
What Most Guides Won’t Tell You
- The peso you buy today is worth less next week. The official rate rose about 70% between December 2025 and October 2026. Budget in dollars, not pesos.
- Bill condition matters. Cuban cashiers and exchange houses reject worn, torn or marked notes. In one reported case at Havana’s airport, about ten $20 bills were refused for minor wear. Bring crisp, recent bills.
- Big peso bills are a new trap. With 10,000 and 20,000 CUP notes now circulating, check every large note you receive and count change carefully.
- Your bank card is a backup to nothing. With Visa and Mastercard suspended, there is no ATM plan B for most visitors. Carry a reserve and split it between bags.
- The street rate has a wide spread. On October 2, 2026, elTOQUE saw dollar offers from 600 to 900 CUP. The headline rate is a median, not a guaranteed price.
Practical Tips Before You Go
- Bring more cash than you think you need, with lots of $1, $5, $10 and $20 bills (or €5 and €10 notes) for taxis, tips and small purchases.
- Check the elTOQUE rate the morning you change money, so you can spot a bad offer.
- Ask for prices in writing and in which currency before ordering or getting into a taxi. See our guide to taxis in Cuba.
- Change back leftover pesos before airport security; CUP is useless outside Cuba.
- Use a money belt or split your cash. Read our Cuba packing guide for what else to bring.
- Fill in the D’Viajeros entry form before you fly, and review the Cuba customs rules if you are bringing goods.
- If you are helping family rather than traveling, read how to send money to Cuba from the US.
Cuban Money Glossary
- CUP / MN: Cuban peso, the only legal currency.
- CUC: Convertible peso, retired in 2021. Not valid.
- MLC: Dollar-pegged balance on Cuban bank cards, worth far less than real dollars.
- CADECA: State currency exchange houses.
- Tasa oficial / tasa flotante: Official exchange rate; the floating one applies to individuals.
- Tasa informal / elTOQUE: Street rate, as measured by the outlet elTOQUE.
- Clásica: Prepaid dollar card issued by Cimex, used in many state venues.
- Fula: Slang for US dollars.
FAQ
What currency does Cuba use in 2026?
The Cuban peso (CUP) is the only legal currency. In practice, dollars and euros are widely used for private services, and many businesses quote prices in them.
What is the exchange rate in Cuba today?
In mid-October 2026, the official floating rate was about 702 CUP per dollar and the street rate about 790. Both change daily; check the Central Bank and elTOQUE before changing money.
Can I use my credit card in Cuba?
Almost certainly not. US cards have never worked, and Visa and Mastercard from any country have been suspended since June 3, 2026. UnionPay and Mir are reported to work, with gaps.
Are there ATMs in Cuba for tourists?
There are ATMs, but with Visa and Mastercard suspended, most foreign visitors cannot use them. Do not plan on withdrawing cash.
Should I bring US dollars or euros to Cuba?
Either. Both are accepted and trade at similar street values. Bring clean bills and plenty of small denominations.
Is the CUC still used in Cuba?
No. The CUC was eliminated on January 1, 2021. Anyone offering CUC today is running a scam.
How much cash can I bring into Cuba?
There is no stated cap, but you must declare amounts above the equivalent of $5,000. Leaving with more than $5,000 requires proof the money came from a Cuban bank.
Can I exchange Cuban pesos back home?
No. CUP cannot be exchanged outside Cuba. Change leftovers at an airport CADECA before security.
Is it legal to change money on the street in Cuba?
Only CADECA offices and banks are official channels. Informal exchange is widespread but carries scam risk, and the State Department advises using official offices.
What is the Clásica card and do I need it?
It is a prepaid dollar card issued by Cimex, which some state hotels and venues require. You may need it for specific state services; load only what you will spend, since fees apply and refunds are uncertain.
This guide was fully updated on October 14, 2026, with data from the Central Bank of Cuba, elTOQUE, the US State Department, Cuba’s Official Gazette and news reports cited above. Exchange rates and payment rules in Cuba change often; confirm before you travel.
