Bank of Mexico moves to counter controversial cash law
Financial inclusion proposal follows draft legislation to make central bank buy up spare US dollar cash
The Bank of Mexico, Mexican government agencies and the Association of Mexican Banks have jointly announced a plan to ease migrants’ access to affordable foreign exchange.
The proposal appears to be pitched at countering a controversial draft law that would require the central bank to buy spare dollar cash.
Under the new plan, Mexican migrants in the US and their families in Mexico will be able to open accounts with the Banco del Bienestar, a public bank under the Ministry of Finance. Mexican
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