Cuba says it will become the first Latin American country to adopt the single European currency, the euro, for its foreign trade operations.

The official weekly, Juventud Rebelde, says the Cuban central bank will conduct foreign trade in euros from the middle of next year, with businesses following six months later.

It said the move will apply not only to trade with Europe but also to its Asian communist trading partners -- China, Vietnam and North Korea.

Juventud Rebelde says the arrival of the euro marks a significant step as an alternative to the dollar, which Cuba cannot use because of the United States embargo.