| Subject: LUSA: USD 5,000 Fine for
Merchants' Failure to Use US Dollars
20 Aug 01 20:18 East Timor: USD 5,000 Fine for Merchants' Failure to
Use US Dollars
The UN Transition Administration in East Timor (UNTAET) announced
Monday that merchants who accept currency other than the US dollar are
henceforth subject to a fine of USD 5,000.
The measure proposed by UNTAET was approved in July by the territorial
administration. It aims to generalize use in current transactions of the
US dollar, which has been East Timor's official currency since January
2000.
The currencies most commonly used for business transactions in East
Timor have continued to be the Australian dollar, brought in by members of
the Australian peacekeeping contingent, and the Indonesian rupiah.
JBC -Lusa-
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