What info do sellers go by in Cuba??? They generally would prefer to sell to you at an exchange that's as low as they can possibly get. And their opening bid for your hard currencies will typically follow that line. But if you use the El TOQUE daily rate as your comeback and guide, you'll end up with an exchange rate that at least comes close. I understand that the seller needs to make something on the transaction too - so anything 5 to 10 CUP below the El TOQUE rate is a good deal to me when leaving a bit of meat on the bone for the seller as well. However if the reported exchange rate is climbing rapidly each day, one can expect to receive EXACTLY whatever the going rate is at that time. Terry

The street exchange rate seems to have found a new water table - 435 CUP to $1 USD. It's been stuck there for 3 days now. Terry

Foreign currencies are very slowly climbing again. 445 pesos per USD.

I have been reading that the authorities are cracking down on people exchanging money in the street. The safest place should be someone who works in your hotel or casa to do the dirty deed for you!! but make sure you get a good rate.

Or utilize a Cuban friend who can serve as the go-between. A good rate of exchange would be 5 pesos off the currently reported el TOQUE rate. Or, if the rate is increasing daily, the good rate of exchange would be EXACTLY the current reported rate that day.

dale, don't worry about the authorities cracking down - at least on small fry - all talk, no action. If they do crack down on anyone it would be with the big fish - the guys at the top of that food chain with all of the dinero where it all starts. Terry

New exchange rate in Cuba

Anybody care to give an opinion on this!

I don't think anything will change. At least in the short term. A few years ago the government dramatically increased the official rate of Cup to USD. Whatever the new rate is, the street rate will always be higher. Most Cubans don't want the government to know what they are doing. And to ad, I also can't see the government being able to sell foreign currencies anytime soon. Again, they said they would do this the last time they raised the value of the USD and it never happened.

I just saw the new rates posted by Bellagio on TripAdvisor. USD about 402 at the official rate vs 440 on the street. If you already have USD, still probably worth exchanging informally if at large amounts. The big deal for us Canadians is that it probably doesn't make sense to exchange CDN to USD. The official rate is about 291 Cup per CDN. The current informal rate is only 260. But that could change of course. I'll be watching this very carefully.

Hopefully the banks and cadeca's actually have enough Cup on hand. There have been shortages.

I was planning on only bringing USD on my trip. If the current rates continue, I'll bring CDN as well. As long as Cubans can'y buy USD from their banks, I expect the street exchange rate to stay above the official rate.

Simon, is it possible that you could post a link to where the Cuba official rate is posted?

I am counting on Simon to let me know which of the currencies is best to take to Cuba next month. It would be a pleasure to be able to only use my CDN for exchanges but I will probably bring a bit of Euro and USD anyway.

Wess, this is the link for the official rates : https://www.bc.gob.cu/tasas-de-cambio . CW, I still plan on taking a mix of USD and CDN. As I mentioned before, until the Cuban government starts selling USD, I expect the street rate to remain higher than the official one. But as of today, it doesn't make much sense for Canadians to buy USD for their trip.

That’s a great rate for Canadian dollars in Cuba and it is holding steady. I would imagine the people of Cuba are more interested now in dealing with CDN $ than previously.

I exchanged a $100 CDN bill today at the Hotel Nacional today. A little less than the official rate. Received just over 29,200 pesos.

Wessislander, even though the CDN $ is riding high these days in Cuba, Euro and US $ are still high in demand in certain situations, in Havana at least. I would still bring some Euro and/or US dolla to mix with your CDN.
I have mostly used Cuban pesos so far this trip.

Official rates currently….

euro 548
usd 471
cdn 344

Wow, I would love a Cuban vacation right now.

Hey there, Wess. Where did you find those rates that you posted? Today's reported street exchange rates from elTOQUE are even better for you and for everyone else too - except for the Canuck Buck - and of course ONLY if we could get there again as well. I always take USD with me as even with the 3% loss at the Canadian bank doing the exchange to Yankee Doodle, the difference in exchange in Cuba to CUP from the bolsa negra is much more profitable given the spread over what CUP can be acquired with Canadian dollars.

€1 (Euro) = 575 CUP
$1 (USA) = 510 CUP
$1 (CDN) = 333.16 CUP

Terry

From the official Cuban bank rate site that Simon posted #73.

https://www.bc.gob.cu/tasas-de-cambio

Aaaaa! Well I haven't visited a bank or a cadeca in Cuba to exchange my money in years! Good deal on the Canadian dinero though! I wonder why that could be so much higher with the Cuban government rate at the bank? Strange! But hey! Something to consider for next time I guess. Thanks, Wess! Terry