Bank of Guyana halts sale of TT and Bdos dollar
The Bank of Guyana (BOG) says it is “temporarily” stopped purchasing Trinidad and Tobago and Barbados currency as it moves to stabilize the foreign currency market.
“We have temporarily stopped buying Trinidad and Tobago as well as Barbadian currency from cambios. Individuals can still come to the Central Bank with legitimate transactions for these currencies,” the BOG said.
Media reports here said that the authorities have realised that people from the two Caribbean Community (CARICOM) country have been coming to Guyana to purchase United States currency and in the process flooding the local market.
The BOG said that while there is no shortage of US dollars in Guyana, the move to halt the purchase of Trinidadian and Barbados dollars is seen as necessary to protect the market.
“We are currently working with the commercial banks to ensure that there is adequate amounts of foreign currency to meet legitimate demand.”
Earlier this week, the Guyana government dismissed a media report of a foreign currency crisis warning that such reports had the potential to destabilize the country.
