Cuba to sell cars in tradeable currency as dollarization gains pace

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Cuba to sell cars in tradeable currency as dollarization gains pace
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Cuba's cash-strapped government said on Thursday it would start selling car...

HAVANA - Cuba’s cash-strapped government said on Thursday it would start selling cars in tradeable currencies rather than in convertible Cuban pesos this month as it continues to dollarize swathes of its retail sector.

In recent months, the government has opened up around 80 “dollar stores” selling some of the items such as home appliances and car parts that it has to buy abroad in tradeable currencies. She said some of the stores would also expand the range of products they sell to include, for example, electrical generators, security systems and heaters.

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