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Cash deals in dollars cut by one third in Guatemala as a result of new checks to prevent potential money-laundering

Tuesday, November 1, 2011

The use of dollars in cash deals has been reduced by one third so far this year in Guatemala as a result of new rules that restrict the use of foreign currency by people and businesses.

The banking regulator reports that purchases by banks of dollars in cash came to $681 million this year through August compared with $1.03 billion a year earlier.

The rule is that $3,000 is available to each person.

Original source (in Spanish): El Periódico