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Central Bank release more $US on the market

by | Aug 20, 2014

dollar signCentral Bank says it is continuing its programme of scheduled foreign exchange interventions.
It adds the Bank sold US$50 million dollars to the local banking system.

This sale the Bank notes was timed to provide further support to the foreign exchange market based on anticipated lower volumes of conversions by energy sector companies during the second half of August 2014.

The total amount of US funds sold by Central Bank to authorized dealers for the year so far is US$1,040 million.

For the year to date, the Bank provided almost one-quarter of the total foreign exchange supply to the market.

Trinidad and Tobago’s net official reserves currently stand at US$10,134 million, representing in excess of 12 months of import cover.

The Central Bank notes that it continues to closely monitor the domestic foreign exchange market and will act proactively to ensure market order and stability.

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