"" Writer's Wanderings: Cuban currency
Showing posts with label Cuban currency. Show all posts
Showing posts with label Cuban currency. Show all posts

Friday, November 09, 2018

Anticipating Cuba - The Enrichment Series Begins


Our first evening aboard the Oceania Sirena upon leaving the port of Miami and having dinner, was the beginning of our enrichment series with Sandy Cares, the Enrichment Lecturer for our cruise. You never know what you’re going to get with lecturers but Cares is a gem! From the start she was entertaining as well as informative. Energetic, charismatic and knowledgeable. It was an unbeatable combination. If I had had history teachers like her in school, I would have retained a whole lot more.

This first night was an introduction to what we would find in Cuba. She explained the money system saying that though there are two types of money, the CUC (Convertible Pesos) or cuke as we came to call it phonetically is the one to have. Some vendors and places will accept USD but not all. The exchange rate was 13-15% so if you gave them a hundred USD you got back 87-85 CUCs. Roughly the USD equals a CUC. Easy enough. [Note: upon leaving Havana we exchanged our CUCs for USD at a 5% rate.]

Contrary to what I’d seen on the internet (horrors, could the net be wrong?) you will not find ATMs and if you do they will not accept your American bank card. Credit cards as well will not be accepted because the Cuban banks will not do business with American banks (or vice versa).

Then we were introduced to the US OFAC (Office of Foreign Assets Control) regulations. These are the regulations set up for Americans traveling to Cuba. OFAC is a part of the Department of Treasury which recognizes 12 general licenses of authorized travel to Cuba. People-to-people travel is one of the ways to visit and covers cruising. But what do they mean by people-to-people?

The definitions of people-to-people is a bit vague but according to HorizonTravelPress.com, the rule states travelers must “maintain a full-time schedule of educational exchange activities intended to enhance contact with the Cuban people, support civil society in Cuba, or promote the Cuban people’s independence from Cuban authorities, and that will result in meaningful interaction between the traveller and individuals in Cuba.” It also states that travelers must keep a record of all their transactions while in Cuba for five years to demonstrate that they complied. Thankfully by taking only the cruise excursions we were assured that they would keep the records for us of what we’d done. If you did tours with other individuals or on your own, you were. . .on your own.

There was a whole list of hotels, stores, government offices, and tourist agencies that were restricted. Somehow this all goes back to the 1960 embargo which, while President Obama tried to ease some of the restrictions in 2014, is still in place. Basically the embargo stems back to when Castro took over American assets in Cuba without compensation.

On board our ship, several staff members had been instructed in the OFAC rules and were available in case there was a question about what you might want to do on shore on your own. We were happy to just participate in the excursions. They were an excellent introduction to Cuba.

Tuesday, April 10, 2018

The Currency Exchange

There is a trip to Cuba in our future and we've been exploring (doing our homework) to make the most of our trip. On one of the cruise boards I saw a discussion of currency exchange. People were worried about how much it would cost to exchange US Dollars for Cuban currency. This is also complicated by the fact that there are two types of Cuban currency the Cuban Peso and the Cuban Convertible Peso. Different parts of the country accept one or the other. It costs more to exchange USD for the CUP or CUC than it does to exchange Euros. Some were considering getting Euros to exchange instead.

Since we are not really spending a lot of time on our own in Cuba I don't think we will worry too much about it. Ship's excursions will take care of a lot of the extra cost.

According to another article written in 2016, there are more ATMs being added in the tourist areas and more places are beginning to take credit cards. Of course all of this (trip included) could fall through if our US relationship with Cuba is somehow disrupted.

Usually when we travel we use our debit card and find ATMs for any cash that we need. Currency exchanges are much more expensive at the places in the airport that offer the service. And we use our credit card whenever we can for purchases. The bank rate for the currency exchange is much lower and is usually whatever the going rate was for the date of purchase or withdrawal. This trip may be a little different because of the lack of  convenient ATMs. I'm sure we'll survive however.


Related Posts Plugin for WordPress, Blogger...