Cash demand soars in Puerto Rico after hurricane hit ATMs, card systems


  • World
  • Thursday, 28 Sep 2017

NEW YORK/SAN JUAN, Puerto Rico (Reuters) - Demand for cash in hurricane-ravaged Puerto Rico is "extraordinarily high" after power outages knocked out electronic transactions and ATMs but needs were being met for now, a Federal Reserve branch said on Wednesday.

Residents and tourists were counting their dwindling banknotes in the wake of Hurricane Maria, which crippled the electrical grid and communications network, turning the Caribbean island into a largely cash-based economy.

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