May.25, 2010, 7:21 P.M. ET
MEXICO CITY (Dow Jones)--Mexican Finance Minister Ernesto Cordero confirmed Tuesday that authorities plan to limit cash deposits of dollars at bank counters as a measure against money laundering.
"It's a measure that won't affect the majority of citizens," Cordero said on the sidelines of an event. "This is aimed at stopping large deposits, very significant quantities."
Cordero said authorities will announce the plan's guidelines next week, and denied that it amounts to an exchange control.
"All the legal businesses that function in Mexico and have operations in dollars will continue working normally," he said. "This, I repeat, has no other target besides organized crime; the economy will continue functioning normally."