Oct 2014 Financial News

As Christmas nears Central Bank injects US$50m

Oct 09, 2014

Central Bank says its injection of US$50 million into the banking system yesterday is “the first of a series of foreign exchange interventions strategically timed to ensure there is a consistent supply of foreign exchange to meet demands of the business community as the Christmas season draws near.”

For the year so far, the bank has sold US$1,190 million to authorised foreign exchange dealers—just over one-fifth of the total foreign exchange supply to the market. In a media release, the Central Bank said T&T’s net official reserves currently stand at US$10,135 million, representing approximately 12 months of import cover. 

The bank said it is continuing to closely monitor the domestic foreign exchange market and “will act proactively to ensure market order and stability.”

Source:
Trinidad Guardian 
Thursday October 9, 2014

http://www.guardian.co.tt/business/2014-10-09/christmas-nears-central-bank-injects-us50m