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PERÚ - Seal of Discord

* PERÚ

Seal of Discord
Moneychangers complain that the banks' decision not to accept sealed bills hurts them

Moneychangers in different parts of the country denounced the pronouncement made by banks for exchange houses not to accept sealed bills, since it is detrimental to them. The chairwoman of the Association of Moneychangers of Arequipa, Lucy Gutierrez, explained that there are million of dollars circulating on the parrellel market, and that their rejection on the part of banking institutions could cause panic in those who have acquired them. Meanwhile, the Association of Banks (Asbanc) said that it is a security measure which will be in effect throughout all of Peru in order to prevent the circulation of bills with stains or seals over security areas such as the band, the fluorescent area or the bill's watermark. Asbanc maintained that in the U.S. it is a federal crime to mark a bill, for which it proposed remitting and changing them at the U.S. Federal Reserve (FED), since Peru's central bank won't do it.
10-Mar-2010 01:03pm