In Reply to Tightening of Sanctions, Castro Bans the Yankee Dollar
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In a televised address, President Fidel Castro of Cuba announced Monday night that United States dollars, which have kept his country&#39;s ailing economy afloat for the
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HAVANA Despite tighter American restrictions on Cuba, Havana has signed more deals to buy US cattle and wheat. It happened at a major international trade fair in Havana, where American businesses played a major role.
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China has been cutting dollar assets in its foreign exchange reserves to avoid losses stemming from the weakening of the US currency, the China Business News said on Friday.
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Cubans jammed banks and exchange kiosks to swap their dollars for local pesos on Thursday, as the communist government, retaliating for tightened sanctions, moved
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HAVANA Â· The central bank president says he is committed to keeping the Cuban peso&#39;s value on par with the US dollar in the wake of his country&#39;s decision to remove the US currency from circulation.
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The US economic embargo of Cuba jumped to the top of the Castro governmentâs agenda on Thursday. For the 13th year in a row, the United Nations General Assembly approved a resolution condemning the US embargo.
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Acting President Raul Castro said Cuba remains open to normalized relations with the United States, but warned the Bush administration in his first comments since assuming power that it will get nowhere with threats or pressure.
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Moving to wean its communist economic system from the U.S. currency, Cuba said that dollars will no longer be accepted at island businesses and stores in a dramatic change in how commercial transactions have been done here in more than a decade.
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Cuban leader Fidel Castro appeared on television Monday with an arm sling to give weight to an announcement on the ban of transactions in US dollars in his country.
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HAVANA - Cuba is moving to end circulation of the widely-used US dollar, a response to tighter American sanctions on the communist island.
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Proposed legislation aims to forcing penalties on China over its policy of suppressing the value of its currency to promote exports.
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HAVANA/MADRID  - Cuba said on Saturday it barred  entry to three European lawmakers on a trip to support  dissidents, setting back Spain's campaign to mend frosty ties  between the EU bloc and the communist-ruled island.
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The Cuban Convertible Peso, CUC, or âchavitosâ as they are called locally became effective this Monday substituting the widely circulated US dollar, with the Central Bank stating that control over the nation&#39;s money circulation underlines sovereignty
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HAVANA  - Thousands of Cubans queued up yesterday to swap US dollars - which have been legal tender here for over a decade - for local convertible pesos, in a mad rush ahead of November 8, when US currency will be locked out of commercial transactions
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Leading advocates of easing sanctions against Cuba in the U.S. Congress will fly to Havana on Friday to assess the situation since ailing Cuban leader Fidel Castro ceded power to his brother Raul in July.
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"But it is positive that we are talking about it. Surely, when we talk our positions will become more understandable."  Secretary of State Condoleezza Rice said Cuba was on the verge of a 'major transition,' and chided Spain on Friday for doing business with Fidel Castro while not working more to support dissidents in the communist island nation.Rice's one-day visit here was meant to smooth over a three-year downturn in relations between Washington and the government Madrid, but the disagreement over Cuba has threatened to wash away any growing good will. At issue is Spanish Foreign Minister Miguel Angel Moratinos's decision to snub Cuban dissidents on a visit to Havana in April. Read more
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After a decade as the dominant currency to buy everything from shampoo to canned food to furniture, the U.S. dollar was eliminated from circulation Monday in Cuba.