The Mudcat Café TM
Thread #150092   Message #3527608
Posted By: Q (Frank Staplin)
18-Jun-13 - 02:45 PM
Thread Name: Mudcat Upgrade Fundraiser Part II
Subject: RE: Mudcat Upgrade Fundraiser Part II
SRS, by law only Federal Reserve banks may deal in foreign currency. This means that a bank in Muleshoe, TX, would have to send the foreign money to a FR bank for exchange. This is expensive and a nuisance.

Many merchants along the Canada-U.S. border on both sides will take currency of either country, since shoppers go both ways and they aren't faced with the bank problem.