Two Monetary Systems

There are two money systems in Cuba. The Cuban Convertible peso or CUC [kook] is the accepted money interchange for the tourist economy. The exchange rate for Canadians and Europeans does not include any surcharge, but Americans do pay a surcharge for converting to Cuban dollars [also called pesos]. For $100 USD, the return is $87.30 CUCs, as shown on this hotel board. Our guide said a higher standard of living is available to a Cuban, the closer he or she is to the CUC economy.

The other money system, the "peso" of the countrymen is valued at about 25 per Cuban Convertible peso, even though the bills look so very much alike, as below. 

These 1 peso bank notes are SIMILAR, but definitely not equal. The top one says Un Peso with a monument to José Marti.  The bottom one says 1 peso with the face of José Marti.  But the bottom one is worth 1/25th the other.  Notice the words "pesos convertibles" under the radiating star on the top note.  This is the money we tourists used, the CUC.

Here also are two types of bills:  The 20 peso paper has a picture of a Cuban hero, Camilo Cienfuegos and the bottom one for Tres Pesos shows a statue to Che Guevara.  The 20 peso bill is worth about  80% of one CUC dollar, whereas the Tres Pesos bill is worth 3 CUCs, or Cuban dollars.

Below are various Cuban coins with a US Georgia quarter at top left. You see 5¢, 10¢, 25¢ coins. Then at the right are two same-sized coins: The top one, also shown in obverse below, is a $1 Cuban CUC, and the bottom one, with the face of Che Guevara and "Patria or Muerte" is a 3 peso coin, which is not a CUC, thus being worth about 12¢ [???]. Although this would be very confusing for the newcomer, we were hardly exposed to the local money.