Cuba Devalues Peso Tourists to Cuba will notice that their Euros, Dollars, Pounds, Yen and everything else, will buy about 8% more cigars than it did in February. The Cuban Government has decided to devalue the Peso as a means of stimulating the economy in this difficult time for the country. While the change is good for foreigners who visit Cuba, Americans still suffer a 10% penalty for changing Dollars into the Cuban Currency CUC.