Cuba operates as a dual economy. Its hard currency is the Cuban convertible peso (CUC$), which you will exchange and use in Cuba. CUC$ come in the following denominations: 1, 3, 5, 10, 20, 50, and 100. Please note that CUC$1 comes in both a coin and paper money configuration. The monetary unit used only by Cubans is the Cuban peso, also called moneda nacional or CUP.