The Bank of Guyana has put a halt to the purchase of Barbadian and Trinidadian dollars from cambios at the central bank, until further notice.
The move is to stabilize the foreign currency market.
It was recently realized that persons from Trinidad and Barbados have been coming to Guyana to purchase US Currency and Trinidadian and Barbadian dollars were flooding the market.
The Governor of the Bank of Guyana told the media on Thursday that “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 Bank of Guyana maintains there is no shortage of us currency in Guyana and no looming crisis. But the move to halt the purchase of Trinidadian and Barbados dollars is seen as necessary to protect the market.
With regard to U.S dollars, he said said they have dealt with situations where we the Bank would be faced with intermittent shortages or seasonal shortages of foreign exchange in the financial system, adding that “we are currently working with the commercial banks to ensure that there is adequate amounts of foreign currency to meet legitimate demand.”