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SEOULl , Tuesday (AFP) North Korea has reportedly banned the use of US dollars in what experts here speculated was retaliation against Washington's suspension of fuel oil supplies to Pyongyang.

The Stalinist country has adopted euros as an alternative international payment, China's Xinhua news agency reported.

Quoting a letter sent from the state-run Korean Trade Bank, Xinhua said foreigners and North Koreans were advised to convert US dollar accounts into euros or other currencies this month.

The dollar ban was imposed on North Koreans November 18. Foreign residents are required to convert their dollars by December 1, the bank's letter said.

Come December, the greenback will no longer be accepted in hotels, foreign-related shops or as payment for services in North Korea, a Korean Trade Bank official told Xinhua.

South Korea's unification ministry said Monday it had yet to verify the news report, while North Korea's media remained silent.

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