Be Prepared For Currency Oddities

The Convertible Peso (a special currency used only by foreigners who don’t have access to the national currency, the Cuban Peso) can only be purchased in Cuba and cannot be exchanged or resold outside of the island. You can bring dollars and buy Convertible Pesos once you get to the airport, but keep in mind that exchanging U.S. Dollars means an added 10 percent fee, a fee not imposed on GBP sterling or Euros. In short, if you want to save some money, buy a different currency before leaving the U.S.
Another thing to keep in mind: the U.S. Dollar and the Convertible Peso (known as CUC) have purchasing power parity, meaning one U.S. Dollar gets you one Convertible Peso. As a foreigner, this means you’ll be paying top dollar for many things, including accommodation, meals at restaurants and most shopping. So if you were expecting bargain travel, you’ll be in for a surprise.