Currency

About November 8 2004 the US dollar, the common currency of exchange for tourists in Cuba, is no longer legal tender. Cubans will be continue to be allowed to hold dollars, but transactions in shops, restaurants, .... will have to be in "peso convertible".

This will leave Cuba with two currencies, two "peso" circulating: the "peso nacional" that is the currency in which Cuban citizens are paid and in which they do most of their purchases (except for those goods that are only available in the "divisas" shops) and the "peso convertible". This "peso convertible" will replace the dollar as currency in the so called "dollar shops" or "tiendas in divisa". Restaurants, taxis, hotels, ... which previously denominated their prices in dollars and will therefore be the "tourist" currency. Any payments you make with credit cards will also be peso convertible for which you will be charged your local currency equivalent of USD$ when you receive your credit card bill. As such not much changes. The rate of change of Convertible Pesos with regard to the North American dóllar or other currencies has varied and it is subject to changes. The upgraded rate of change can see it in the place:

Central Bank of Cuba
1 USD = 0.828 Pesos Convertibles (CUC)