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Cuban Central Bank Rules Against US Dollar Transactions - 2003-07-21

The Cuban Central Bank has ruled that state companies can no longer make transactions in U.S. dollars.

The bank says the measure goes into effect Monday in an effort to help the government secure more foreign currency. It says the new rule will not affect the Cuban population or the free circulation of the dollar.

Cuba legalized the use of the dollar by ordinary citizens a decade ago. The move has allowed Cubans living in the United States and elsewhere to send money back to family members.