October 26, 2004
No More Dollars for Cuba
Fidel Castro's government announced yesterday it would no longer allow US dollars to be used as currency in the island. Beginning in November, all stores and businesses on the island will conduct their transaction in the "convertible" Cuban peso.
However, Cubans will still be allowed to hold unlimited amounts US dollars, but they must be converted to Cuban pesos - in order to be used for purchases - for a 10% fee.
Apparently, the lack of remittances in dollars from abroad is hurting Castro's economy so Fidel sticks it to his own people once again.
Unbelievable.
UPDATE: During a three hour long tv show called "Mesa Redonda" (Round Table) in Cuba discussing this dollars to pesos change, Castro called upon Cuban from abroad to send money to their families in euros, British pounds, Swiss francs or Canadian dollars in order to "avoid" the 10% fee.
yeah, Fidel, I got your money from abroad rite heah. Biatch.
Thanks to reader Sandra P. for the heads up.
Posted by Val Prieto at October 26, 2004 07:54 AM
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Comments
How about rubles? I remember a joke that goes this way:
Q. What's the difference between a ruble and a dollar?
A. A dollar.
Posted by: Murel Bailey at October 26, 2004 10:22 AM
Of course Fidel and the Dems will say:
"It's Bush's fault!"
Posted by: mandingo jones at October 26, 2004 02:47 PM
So, the Cubans stateside must pay a fee to convert their $ into Euros, eh?
This should be interesting.
Some enterprising person should be able to find a way around this.
Posted by: Sandy P at October 26, 2004 05:25 PM
