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Cuba Dollar Ban Goes Into Effect

Cuba has officially ended circulation of the U.S. dollar, a move Cuban leader Fidel Castro says is in response to tightening U.S. sanctions.

The ban on the dollar went into effect Monday, preventing hotels, stores and restaurants from using the currency.

Those business will now only accept a "convertible peso" which has a face value equal to the dollar, but no value internationally.

Mr. Castro announced the dollar ban two weeks ago.

The Cuban government has also encouraged Cubans living abroad to send money to their relatives in other currency, such as British pounds or Euros.

Cuba legalized the dollar in 1993 in the face of an economic crisis sparked by the collapse of the Soviet Union.

Some information for this report provided by AFP, Reuters.