The Bankers Association of T&T says it is aware of and “deeply concerned” by ongoing foreign exchange challenges.

In a statement issued this morning, BATT says its members operate in compliance with legal regulations, Central Bank (CBTT) policies and guidelines regarding the allocation of forex.

These include:
1. A fixed-rate foreign exchange allocation provided by the CBTT
2. An obligation prescribed in regulation for banks to sell foreign exchange to the public at a specified spread
3. A prohibition on commercial banks by regulation set by CBTT from purchasing foreign exchange above a specified rate
4. Regular daily reporting to the CBTT of forex transactions with information provided as prescribed by CBTT as regulator

BATT says it recognizes structural factors that contribute to forex challenges and is committed to discussions with government and the Central Bank to develop an approach that serves the interests of all stakeholders.