Fed quarantines for 7-10 days dollars repatriated from Asia

Section:

By Pete Schroeder and Anna Irrera
Reuters
Friday, March 6, 2020

WASHINGTON -- The greenback faces the same fate as many travelers returning home from China and other coronavirus hot spots.

The U.S. Federal Reserve has begun quarantining physical dollars that it repatriates from Asia before recirculating them in the U.S. financial system as a precautionary measure against spreading the virus, a Fed spokesperson told Reuters.

She said regional Fed banks that help manage the money supply will set aside shipments of dollars from Asia for seven to 10 days before processing and redistributing them to financial institutions. The policy, first reported by Reuters, was implemented on Feb. 21, the official said. ...

... For the remainder of the report:

https://www.reuters.com/article/us-health-coronavirus-fed-dollars/fed-qu...



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