HAVANA (AFP) – 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.

“And can you exchange any amount?” a young man asked at a government currency exchange window, despite blanket coverage by official media since the announcement.

“Are they going to ask you for your ID or to justify where you got the money from?” asked another in a long line in the Santos Suarez district.

President Fidel Castro on Monday announced the radical change in everyday business in Cuba, saying the measures were a response to “mafia-like” moves by the US government limiting money transfers to Cubans from US relatives as well as family visits to the island.

Starting November 8, hotels, restaurants, car rental agencies and taxi drivers will accept only “convertible pesos,” a local currency that can be used in specialised stores on the island but has no international value.