Banxico Offers to Finance Mexico Banks Stuck With Dollars (2)

Mexico’s central bank will lend money to local banks that can’t sell bulk dollars to the U.S., a move meant to satisfy lawmakers who wanted to force the nation’s monetary authority to purchase the greenbacks.

The pledge to help Mexican banks was unveiled Monday as part of new measures to help migrants access banking services and get better exchange rates for dollars they bring home.

Banxico, as the central bank is known, will work with local lenders with “justified difficulties” in getting rid of bulk cash as well as try to improve relations with U.S. banks, Governor Alejandro Diaz de ...