Embedded Files
Advertise with Aurax News — Reach a Global Audience Today.
Trinidad Central Bank Clarifies US Dollar Export Rules
By Aurax Radio | July 6, 2026 | 2 min read
The Central Bank of Trinidad and Tobago has clarified the legal framework governing the export of United States currency amid an ongoing investigation into a shipment of US dollars. The statement comes as authorities face heightened public scrutiny over foreign exchange shortages and the handling of cross-border cash movements.
The Central Bank said authorised dealers may legally export foreign currency as part of regulated banking operations under exchange control laws.
In a public release issued in Port of Spain, the Central Bank said that authorised dealers operating under the Exchange Control Act are legally permitted to export foreign currency notes, including US dollars, as part of normal banking operations. The bank explained that such transactions often involve compensating credits wired back into Trinidad and Tobago, meaning there is no net loss of foreign exchange when properly executed. The clarification follows media reports of an investigation into a quantity of US currency intended for export, though officials stressed they could not comment on the specifics of the case due to its active status.
The Central Bank also addressed broader concerns about foreign exchange availability, noting that domestic demand continues to exceed supply despite significant interventions in the market. According to the bank, more than US$1.2 billion has been injected into the financial system over the past year to support authorised dealers, along with an additional US$900 million directed to state enterprises, export financing, and essential imports. Officials said foreign reserves remain at roughly six months of import cover as of June 2026, while acknowledging structural weaknesses in the system that require reform. Planned updates to the Exchange Control Act, which may be renamed the Foreign Exchange Act, are intended to strengthen oversight, improve reporting requirements, and tighten regulation of cross-border cash shipments.
Sources: Central Bank of Trinidad and Tobago
Page updated
Google Sites
Report abuse