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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