Mexico Did Stop Accepting The Dollar

The Mexican authorities in September 2010 enacted a fresh law which basically restricts the use folks Dollars for almost all purchases inside of Mexico. Just image the surprise of many Americans being told by Wal-Mart that US Dollars are no more accepted at their store especially since Wal-Mart is one of the most iconic ?

Mexico would never stop acknowledging US Dollars because those dollars were its economic life support but as the year closed out and those ? Mexico do stop taking the dollar, well that only still left many people wondering what really was going on south of the border. The Mexican government had managed to get clear that they can no more allow ANY businesses to simply accept US dollars including American companies whatever the operation or who’s paying in American dollars. Ok so many visitors are probably asking if the banking institutions no more exchange money or business are no more allowed to acknowledge US Dollars then exactly what is a person who has US dollars imagine to do.

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Kodak film handling centers or Blockbuster video locations. Area of the new rules is that anyone exchanging money for any reason must now present a valid authorities ID which is copied and placed on file with a duplicate of the purchase and amount of money being exchanged. This additional paperwork and hassles now mean higher operational costs for these businesses which in turn indicate those costs will be transferred onto the consumers who are often the one that end up spending money on everything anyhow. Another disadvantage is that since nowadays there are fewer Casa de Cambios this implies less competition and so the exchange rate doesn?

US dollars. Gone are the days of such advantageous exchange rates that allowed anyone exchanging US Dollars into Pesos additional purchasing power by walking away with an increase of for your money south of the border. As the buck continues to lose purchasing power so does the ever appreciated exchange rate the united states Dollar held for so long.

300.00 dollars per transactions. This implies it will be much more problematic for Mexicans to send US Dollars home to their households without enriching the pockets of the bankers and the amount of money transfer companies. These hats on exchanging Dollars will also cause the visitors to want to get away from the dollar faster as it?

On a aspect notice it´s also important to notice that the Mexican economy grew at a level of just over 5% this year 2010 and by the entire year? Mexico were reporting more powerful than income and sales at rates not seen in many years ever. Many large companies are actually in hiring frenzies plus some ongoing companies are desperate to fill up slot machine games with certified employees. Now while some will argue that any cash regardless if it is drug money or laundered is in fact good for an economy but most people can also understand it? ´s best to get rid of that money as as you can fast. There’s been a rush to market off US Dollars inside Mexico because the folks are sensing a coming financial storm with the united states Dollar plus they too don?

Federal program and specific Federal award identification including the CFDA name and number, Federal award recognition quantity and season, name of Federal company, and name of the relevant pass-through entity. When information, such as the CFDA quantity and title or Federal government prize id number, is not available, the auditor must provide the best information available to describe the Federal award.