Tuesday, October 26, 2004

US dollar in Cuba

No more US dollars in Cuba:

Cuba said Monday that it would end circulation of the U.S. dollar in its territory as of Nov. 8 in response to tightened U.S. economic sanctions.

Cubans, foreign residents and tourists will have to use locally printed pesos, equal in value to the dollar, the central bank said. A 10% fee will be charged for exchanging dollars.

The ban will, in effect, tax remittances from the United States — an estimated $1 billion a year — unless they are sent in other currencies.

1 Comments:

At January 6, 2005 at 4:01 PM, Anonymous Anonymous said...

Do yoy know what's really happening in Cuba?
Where are you from?
Im a Cuban young journalist. Maybe you want to speak with me.
Mail to: carogonzalez79@yahoo.com

 

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