Skip to playerSkip to main content
CCNTV6
  • 1 year ago
The Bankers Association of Trinidad & Tobago says it is "deeply concerned" about the ongoing foreign exchange challenges facing the country. In a news release this morning, BATT says it is acutely aware of the ongoing situation.


However, it says the banks remain committed to collaborating with the government to address the issues.
Transcript
00:00The Association of Trinidad and Tobago says it is deeply concerned about the ongoing foreign
00:05exchange challenges facing the country.
00:07In a news release this morning, BATT says it is acutely aware of the ongoing situation.
00:12However, it says the banks remain committed to collaborating with the government to address
00:17the issues.
00:18The Association is also seeking to assure the public that its members operate in compliance
00:24with legal regulations, adhering to the central bank's policies and guidelines regarding
00:29reallocation and distribution of foreign exchange, which include a fixed-rate foreign
00:35exchange allocation provided by the bank, an obligation prescribed in regulation for
00:40banks to sell foreign exchange to the public at a specified spread, regular daily reporting
00:47to the CBTT of forex transactions with information provided as prescribed by the central bank.
00:54The Association further notes that commercial banks are also prohibited by regulation from
00:59purchasing foreign exchange above a specified rate.
Be the first to comment
Add your comment