A trip to Cuba in 2019 gave a traveller an unexpected lesson in money management after discovering that the country had two official currencies. While enjoying the country’s beaches, vintage cars, cigars and lively streets, the visitor had unknowingly been spending more than necessary.
The traveller explained that tourists commonly used the Cuban convertible peso (CUC), while locals used the Cuban peso (CUP). The difference became clear after initially rejecting CUP notes received as change, only to discover that they were also valid currency. The experience prompted questions about how much had already been overspent.
The biggest surprise came at a local restaurant, where the traveller had repeatedly paid 5 CUC for a meal. After observing a local customer pay 5 CUP for the same food, the traveller decided to do the same. At the commonly used exchange rate of 25 CUP to 1 CUC, the difference meant the meal had previously cost 25 times more. Cuba later discontinued the CUC on January 1, 2021, leaving the CUP as its sole official currency.
