Currency in Cuba

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Currency in Cuba

Cuba is one of the few countries where in the course of just two variants of the same currency, and both are called "Cuban peso". The only difference is that one type is intended for use only within the country, and the second can be converted into another currency. Thus, the Cuban peso is at once the two sides in the truest sense of the word and can be both internal and external foreign currency rating.
Interesting facts about the Cuban peso

History of currency changes in Cuba can be divided into several periods, focusing on the extent of the US dollar quoted:

The use of the Spanish currency, equal to the US dollar, and an open relationship with the latter;
The era of relations with the Soviet Union and a total ban on the US currency;
Partial resumption of economic cooperation with America.

Money Cuba underwent quite serious changes in the course of its development as a stable currency, which would have a weight in the international market. Until 1857, inclusive, the country used the Spanish colonial real, and in the same year began the production of domestic currency denominated in pesos. In the future, with the advent of the Soviet Union became a common Soviet ruble, and the peso was banned for converting America due to blocking deliveries of sugar and other sanctions against Cuba. During the 1993 crisis the authorities have returned to the use of the US dollar, but only for minor purchases.
As an expression of respect for the commandant-partisan, war hero - Che Guevara - in 1983 were issued banknotes in denominations of 3 pesos with the image of this outstanding personality. Later also styled the same denomination and coins, which are used to this day.
Currency Exchange in Cuba

Currently, the most common currency used in the country, is the Cuban peso (CUP). The second variation of Cuba money - it's the same peso, but subject to conversion (CUC), which is relevant mainly in the tourism sector, in their relations with foreigners. CUP ratings are to be used in shops, cafes, banks and other spheres of life of the Cuban people and are the most abundant in the country. Cuban citizens receive the bulk of the salary it is in this one, while only a small portion is paid in convertible CUC.
Cuban peso CUC to be exchanged for other currencies in bank branches, which operate on Friday from 8.30 to 12.00 and from 13.30 to 15.00 on Saturday - from 8.30 to 10.30. Franks, dollars, pounds sterling and other currencies can be exchanged in almost all hotels. Thus, the exchange takes place in Cuba freely enough.
Widespread use of credit cards, except those issued in any US bank. The calculation of these cards is not possible, although the exchange of money for US dollars is performed regularly.