The Central Bank of Trinidad & Tobago said Governor Larry Howai, together with the finance, planning and energy ministers, met key energy sector stakeholders to discuss measures to address ongoing foreign exchange market constraints. Participants supported near-term initiatives aimed at improving foreign exchange availability and distribution, with discussions focused on practical steps to make allocation more efficient. Energy sector conversions remain the main source of foreign exchange inflows, accounting for about 60 to 75 per cent of total market conversions. However, foreign exchange sales by energy companies have fallen by an estimated USD 1.2 billion a year over the past decade, reducing supply to the domestic economy while demand continues to exceed supply. The bank said improvements in local oil and gas supply are expected from late 2027, but in the meantime it is working with the relevant ministries on targeted short-term interventions intended to improve distribution outcomes and provide relief in the near to medium term.
Central Bank of Trinidad & Tobago2026-07-10
Central Bank of Trinidad & Tobago and ministers discuss near term measures to improve foreign exchange distribution
The Central Bank of Trinidad & Tobago said its governor and three ministers met energy sector stakeholders on measures to ease foreign exchange market pressures. Participants backed near-term initiatives to improve foreign exchange availability and distribution, with the focus on more efficient allocation rather than increasing total supply. The bank linked current constraints to an estimated USD 1.2 billion annual decline in energy sector foreign exchange sales over the past decade.