As a drastic measure in response to tightened US sanctions, Cuba said Monday that it will ban transactions in US dollars in the country starting Nov. 8
Published:
27 October 2004 y., Wednesday
Under the Central Bank decree read on national television, Cubans will still be allowed to possess US dollars, but all commercial transactions in US dollars will be banned.
Instead, a "convertible peso" with equal value to the dollar will be used. A 10-percent commission is to be charged when the dollar is converted into the new currency.
"As of November 8, the dollar will not be accepted in our shops,which will only accept convertible pesos," the decree said.
Other foreign currencies, such as the euro, the British pound, Swiss francs and Canadian dollars, will still be accepted in the country, according to the decree.
The new restriction was adopted in response to tighter US sanctions announced last June which limits money transfers to Cuban citizens from relatives in the United States as well as family visits to the island.
The United States has maintained a trade embargo against Cuba for 43 years.
Šaltinis:
Xinhuanet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Most EU countries continue to meet deadlines for incorporating single market rules into national law, contributing to economic growth and job creation.
more »
Japanese officials unveil their new bullet train, capable of travelling at speeds of 320 km per hour (198 miles per hour).
more »
The first International Security Technology Exhibition, KIPS 2011, will be held on 23-26 February 2011 in Kiev (Ukraine). The motto of the exhibition is ‘There can never be too much security!’
more »
The world's highest restaurant opens in Dubai, United Arab Emirates, located 400 metres above ground in Burj Khalifa, the world's tallest tower.
more »
The rights of consumers will be clarified and updated, whether they shop at a local store or buy goods on line, under new EU rules as amended by the Internal Market Committee on Tuesday.
more »
MEPs on Wednesday gave their green light for the Council to conclude an Interim Economic Partnership Agreement with Papua New Guinea and Fiji, two countries of the Pacific Region with significant exports to the EU.
more »
Report sets 10 priorities for tackling the bloc's main economic challenges, launching the first ever ‘European semester'.
more »
China's first capsule hotel ready to open its doors in Shanghai, aims to capture slice of booming leisure budget travel market.
more »
Declaration by Michel Barnier on the start of three new authorities for supervision.
more »
On 1 January, Estonia adopted the euro as its official currency and the changeover is running smoothly and according to plan.
more »