First the Casas Now the Peseros

The Peseros at the Santa Elena Border are an institution but as of Monday they'll be history. That's the information reaching 7NEWS from the north where the Peseros have been told that as of July 11th they'll be replaced by commercial banks which will be solely responsible for changing the money.

The Pesero crackdown comes as part of a formalization of the currency trading system where Casas de Cambio are also closing. And while we have received this information from a number of credible sources, we were unable to get comment from the Central Bank which regulates the trading of currency.