Banxico Offers to Finance Mexico Banks Stuck With Dollars
- Mexico central bank measure an alternative to purchasing cash
- Plan includes using state bank to help migrants open accounts
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Mexico’s central bank will lend money to local banks that can’t sell bulk dollars to the U.S., a move meant to satisfy lawmakers who wanted to force the nation’s monetary authority to purchase the greenbacks.
The pledge to help Mexican banks was unveiled Monday as part of new measures to help migrants access banking services and get better exchange rates for dollars they bring home.