Central Bank of Trinidad and Tobago Clarifies US Cash Export Regulations Amidst Ongoing Probe

The Central Bank of Trinidad and Tobago has clarified that authorized financial institutions are legally permitted to export U.S. currency under existing laws, following an investigation into a seizure of US$2 million in cash. The Bank stated that imports and exports of currency are normal operations for authorized dealers. It also highlighted its efforts to maintain stability in foreign exchange reserves, having injected US$1.2 billion into the market over the past year, and plans to introduce initiatives, including amendments to the Exchange Control Act, to strengthen foreign exchange management.