Most countries adopt the dollar in an attempt to reverse rampant inflation.
But Latin American nationalists are not happy about the march of the dollar, and the anomaly of countries, particularly El Salvador, that suffered so much at the hands of US-supported governments, allowing their economic policy to be dictated by the Federal Reserve has not been lost on many observers. The dangers of multiple currencies are exemplified in Cuba, which has three parallel economies based on the dollar, the peso and the convertible peso. But while Cuban banks have started cashing American travellers' cheques, American-issued credit cards are not welcome. All rights reserved. Send us feedback.