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Central Bank injects over US $600 Mill into local market

Finance Minister, Colm Imbert

Finance Minister Colm Imbert reveals that the Central Bank has put over 600 million US dollars in the local market in a bid to satisfy growing demand for foreign exchange.

He gave the update during his response to a question posed by the Opposition in the parliament this afternoon on whether there is a US currency shortage.

Minister Imbert cited the decline in energy revenues as the main factor for the present situation.

It was pointed out by Mr Imbert that the country has lost US2.5 billion dollars annually in foreign exchange earnings since 2014.

However, the Finance Minister pointed out that the Central Bank is taking appropriate action to address the situation.

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