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Dollar store (Cuba)

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In Cuba between 1993 and 2004, a dollar store was a government-owned shop that sold goods solely in exchange for hard currency, originally mainly to foreigners, in the same way as a Friendship store in the People's Republic of China or an Intershop in the German Democratic Republic.

In 1993, Cuba made the United States dollar legal tender.[1]

In November 2004, the US dollar ceased to be legal tender to use in cash commercial transactions and was replaced by the Cuban convertible peso.[2] However, the "dollar stores" remained open and despite their acceptance of only the convertible peso, the term "dollar stores" remained in colloquial use.

References

  1. ^ "Cuba bans US dollar transactions". BBC News. 26 October 2004. Retrieved 8 September 2013.
  2. ^ "Cuba dollar tax comes into force". BBC News. 15 November 2004. Retrieved 8 September 2013.
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