Citicorp in Hungarian Venture: Citicorp will begin...
Citicorp in Hungarian Venture: Citicorp will begin issuing convertible-currency travelers checks to Hungarians later this month under an agreement with the Hungarian National Bank, the Magyar Nemzet newspaper reported. The travelers checks will be issued in dollars, British pounds and West German marks at more than 600 outlets authorized to deal in hard currencies starting Sept. 18, said Magyar Nemzet, quoting the official MTI news agency. The report said $200 million had been designated for the project, with the New York banking company prepared to increase the amount if warranted.
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