Banco Central de Cuba - Tipo de Cambio

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
Banco Central de Cuba – Tipo de Cambio
Save

I am starting a new topic in the expectation that a previous one will drift into the background. On March 17 this year, I thought it would be helpful to post the exchange rates for the Convertible Peso at this topic:

http://www.tripadvisor.ca/ShowTopic-g147270-i91-k4327578-Banco_Central_Tipio_de_Cambio-Cuba.html

Unfortunately, I am sometimes ham-handed when I type, and I typed Tipio de Cambio, rather than Tipo de Cambio. I am always embarrassed when I make a silly mistake, so I have often cringed when I see the title of the topic, and have been thinking of starting a new one with a corrected title. So here it is.

If anyone wants to see the historical rates over the past seven months, please look at the link above. From now on, future updates will be posted on this current topic.

Bellagio has posted (on that previous topic) tomorrow’s rates that were just recently updated on the Banco Central website.

Based on the rates from Bellagio’s post (#215 on the above topic), here is the best rate you will get for 100 units of each of the following currencies:

$100 (CDN) ---> 94.67 CUC

£100 ------------> 151.64 CUC

€100 ------------> 132.22 CUC

And for my typing errors (past, present and future), mea culpa, mea maxima culpa.

Regards,

Jack

3,100 replies to this topic
Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
351. Re: Banco Central de Cuba – Tipo de Cambio
Save

There was no update for today, but the rates for tomorrow were posted at 5:26 PM today:

Vigente: Hasta: 30-11-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1,55210 1,65644

CAD Dólar Canadiense 1,02428 0,95973

CHF Franco Suizo 0,95617 0,89592

JPY Yen Japonés 84,6629 79,3301

MXP Peso Mexicano 14,3099 12,4347

DKK Corona Danesa 5,92397 5,55083

NOK Corona Noruega 5,85407 5,48426

SEK Corona Sueca 6,87186 6,43803

EUR Euro (*) 1,25802 1,34256

CUP Peso Cubano 1,00000 1,00000

USD Dólar USA 1,03360 0,96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 97.63 CUC

£100 ------------> 155.21 CUC

€100 ------------> 125.80 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
352. Re: Banco Central de Cuba – Tipo de Cambio
Save

Today's rates were posted this afternoon at 2:27 PM:

Vigente: Hasta: 03-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1,54902 1,65317

CAD Dólar Canadiense 1,02626 0,96161

CHF Franco Suizo 0,95687 0,89658

JPY Yen Japonés 85,2297 79,8622

MXP Peso Mexicano 14,2928 12,4201

DKK Corona Danesa 5,92167 5,54880

NOK Corona Noruega 5,85743 5,48814

SEK Corona Sueca 6,86965 6,43592

EUR Euro (*) 1,25842 1,34299

CUP Peso Cubano 1,00000 1,00000

USD Dólar USA 1,03360 0,96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 97.44 CUC

£100 ------------> 154.90 CUC

€100 ------------> 125.84 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
353. Re: Banco Central de Cuba – Tipo de Cambio
Save

The rates for today have now been posted:

Vigente: Hasta: 04-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1,55570 1,66028

CAD Dólar Canadiense 1,02650 0,96184

CHF Franco Suizo 0,95631 0,89605

JPY Yen Japonés 84,8838 79,5372

MXP Peso Mexicano 14,3159 12,4396

DKK Corona Danesa 5,90425 5,53235

NOK Corona Noruega 5,82368 5,45599

SEK Corona Sueca 6,84890 6,41752

EUR Euro (*) 1,26217 1,34698

CUP Peso Cubano 1,00000 1,00000

USD Dólar USA 1,03360 0,96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 97.42 CUC

£100 ------------> 155.57 CUC

€100 ------------> 126.22 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
354. Re: Banco Central de Cuba – Tipo de Cambio
Save

There was no update posted for Wednesday, or for today. But the rates for tomorrow have now been posted:

----------------------------------------------------------------------------------------------------

Vigente: Hasta: 7-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1.55703 1.66170

CAD Dólar Canadiense 1.02412 0.95961

CHF Franco Suizo 0.96099 0.90042

JPY Yen Japonés 85.0645 79.7074

MXP Peso Mexicano 14.2546 12.3915

DKK Corona Danesa 5.92790 5.55451

NOK Corona Noruega 5.81948 5.45230

SEK Corona Sueca 6.83807 6.40668

EUR Euro (*) 1.25697 1.34146

CUP Peso Cubano 1.00000 1.00000

USD Dólar USA 1.03360 0.96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

-----------------------------------------------------------------------------------------------

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 97.64 CUC

£100 ------------> 155.70 CUC

€100 ------------> 125.70 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
355. Re: Banco Central de Cuba – Tipo de Cambio
Save

The rates for Monday have now been posted:

Vigente: Hasta: 10-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1.54908 1.65345

CAD Dólar Canadiense 1.02094 0.95627

CHF Franco Suizo 0.96642 0.90528

JPY Yen Japonés 85.3258 79.9445

MXP Peso Mexicano 14.2106 12.3532

DKK Corona Danesa 5.96569 5.58924

NOK Corona Noruega 5.86646 5.49375

SEK Corona Sueca 6.89008 6.45341

EUR Euro (*) 1.24903 1.33314

CUP Peso Cubano 1.00000 1.00000

USD Dólar USA 1.03360 0.96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 97.95 CUC

£100 ------------> 154.91 CUC

€100 ------------> 124.90 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
356. Re: Banco Central de Cuba – Tipo de Cambio
Save

There was no update for today, but tomorrow's rates were posted earlier this afternoon:

Vigente: Hasta: 12-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1.55815 1.66295

CAD Dólar Canadiense 1.01919 0.95492

CHF Franco Suizo 0.96322 0.90200

JPY Yen Japonés 85.0676 79.6833

MXP Peso Mexicano 14.0795 12.2353

DKK Corona Danesa 5.92697 5.55335

NOK Corona Noruega 5.83446 5.46569

SEK Corona Sueca 6.86437 6.43077

EUR Euro (*) 1.25726 1.34184

CUP Peso Cubano 1.00000 1.00000

USD Dólar USA 1.03360 0.96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ---> 98.12 CUC

£100 ------------> 155.82 CUC

€100 ------------> 125.73 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
357. Re: Banco Central de Cuba – Tipo de Cambio
Save

How to Use the Banco Central Rates

-------------------------------------------------------------------------------------------------

I have been asked a few times about how the rates posted here work, so I thought it might be helpful if I posted some explanation. Note that on the Banco Central website, there are two columns of numbers. The first is labelled “Compra”, which means buy, and the second is labelled “Venta”, which means sell. The first column is the one we are usually interested in, because this indicates what it will cost to buy Convertible Pesos. Note that the rates shown are inclusive of currency exchange commissions, which run between 3% to 3.5% on either side of the mid market rate for most currencies. Thus the commission is essentially the difference between the buy and sell rates.

One thing we have to be aware of with these listings is that the numbers for the Pound Sterling and the Euro are shown as the number of CUC you can buy per Pound or Euro. All other currencies are shown as the cost in those currencies to buy one CUC. It seems a strange way to do it, but that is the way they do it.

What that means is that if you want to find out how many CUC you can buy with £100, or with €100 you need to multiply 100 by the number shown for those currencies in the “Compra” column. For all other currencies, you need to divide 100 by the number shown in the “Compra” column. So, in terms of maximizing what you can buy with your currency, for Pounds and Euros, a higher number is better. For all other currencies, a lower number is better.

For example, in the post above (#356), I got the results shown with the following calculations:

For Canadian dollars, $100(CDN) ÷ 1.01919 = 98.12 CUC

For Pounds Sterling, £100 x 1.55815 = 155.82 CUC

For Euros, €100 x 1.25726 = 125.73 CUC

Now, the US dollar is a bit of a special case. The exchange rate remains constant. In terms of a mid-market type of rate, the CUC is pegged at 1.00 CUC = $1.00 US. But because all banks charge a commission on currency exchange, as mentioned above, the rate at which US dollars will buy CUC is a constant value of $1.03360 per CUC. But there is an additional 10% penalty charged on the purchase of CUC with $US. So, while we might think that we could do a similar calculation to the Canadian dollar calculation, and take $100 ÷ 1.03360 = 96.75 CUC, that would only work if the penalty did not apply. To account for the penalty, we must deduct 10%, so that the exchange of $100 US will only give us the equivalent of exchanging $90 US. So the calculation is actually $90(US) ÷ 1.03360 = 87.07 CUC.

One last point to keep in mind is this: the rates posted here are generally the most favourable rates available. At some of the smaller banks, or at cadecas, the number of CUC you will get for your foreign currency will likely be a bit less. At most hotels that do not have cadecas, the exchange at the front desk will usually be even worse. There are a few exceptions to this, and a few hotels give rates very comparable to the banks, but they are rare.

Newton Aycliffe...
Destination Expert
for Cuba, Rafael Freyre, Guardalavaca, Holguin
Level Contributor
117,924 posts
59 reviews
102 helpful votes
358. Re: Banco Central de Cuba – Tipo de Cambio
Save

Tomorrow's rates were published at 5.28pm Cuban time this afternoon:

Vigente: Hasta: 14-12-12 (Ver anteriores)

País Sigla Moneda Compra Venta

GBP Libra Esterlina (*) 1,56004 1,66491

CAD Dólar Canadiense 1,01550 0,95152

CHF Franco Suizo 0,95492 0,89472

JPY Yen Japonés 86,2116 80,7833

MXP Peso Mexicano 14,1717 12,3194

DKK Corona Danesa 5,89114 5,52007

NOK Corona Noruega 5,79553 5,42985

SEK Corona Sueca 6,88339 6,44941

EUR Euro (*) 1,26508 1,35010

CUP Peso Cubano 1,00000 1,00000

USD Dólar USA 1,03360 0,96852

(*) CUC por Euro y Libra Esterlina

Al USD se le aplica un 10% de gravamen

Based on the above, 100 units of each of the following currencies should buy:

$100 (CDN) ----> 98.47 CUC

£100 ------------> 156.00 CUC

€100 ------------> 126.51 CUC

Calgary, Canada
Destination Expert
for Cuba
Level Contributor
9,205 posts
4 reviews
16 helpful votes
359. Re: Banco Central de Cuba – Tipo de Cambio
Save

Hiya Ken, welcome back. And thanks for catching the update today. I was off on some other things today when they were posted.

Regards,

Jack

Newton Aycliffe...
Destination Expert
for Cuba, Rafael Freyre, Guardalavaca, Holguin
Level Contributor
117,924 posts
59 reviews
102 helpful votes
360. Re: Banco Central de Cuba – Tipo de Cambio
Save

Hi Jack:

Thanks for the welcome back. Incidentally I visited the Cadeca in the town of Banes several times on this holiday to change CUC's into national money and I noted the exchange rates and checked them up on my return with the rates you had posted and on every occasion they were almost the same, but the Cadeca only went to 4 decimal places.

Reply to: Banco Central de Cuba – Tipo de Cambio
Get notified by e-mail when a reply is posted
Get answers to your questions about Cuba
CA$CAD
United States
© 2021 TripAdvisor LLC All rights reserved.

This is the version of our website addressed to speakers of English in the United States. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu.