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DOMA Welcomes Increase of Foreign Exchange into the Local Economy

More foreign currency has been added to the local economy by Central Bank

More foreign currency has been added to the local economy by Central Bank

One business group welcomes the Central Bank’s decision to put more money into the local economy. The move was done to address complaints of a shortage of foreign currency.

In the parliament recently, Finance Minister, Larry Howai, said so far for the year the Central Bank has injected 410 million dollars into the banking system.

However, he added notwithstanding this support for the market there have been continuous occurrences of tightness of supply.

DOMA President, Gregory Aboud

DOMA President, Gregory Aboud

In a News Power Now interview on Tuesday afternoon, Down Town Owners and Merchants Association President, Gregory Aboud, said the sector is still reeling from five months of pressure on this matter.

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Mr. Aboud insisted increase in public and private spending has also contributed to the situation.

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Down Town Owners and Merchants Association President, Gregory Aboud

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