The Cen­tral Bank yes­ter­day sold US$50 mil­lion to the bank­ing sys­tem. This sale was timed to pro­vide fur­ther sup­port to the for­eign ex­change mar­ket based on an­tic­i­pat­ed low­er vol­umes of con­ver­sions by en­er­gy sec­tor com­pa­nies dur­ing the sec­ond half of Au­gust 2014, the bank said in a state­ment.The bank said the to­tal amount of Unit­ed States funds it has sold to au­tho­rised deal­ers for the year so far is US$1,040 mil­lion.

For the first six months of 2014, the Cen­tral Bank sold $US690 mil­lion to the fi­nan­cial sys­tem, or equiv­a­lent to one-fifth of the to­tal sup­ply of for­eign ex­change to the mar­ket. For the year to date, the bank said it has pro­vid­ed al­most one-quar­ter of the to­tal for­eign ex­change sup­ply to the mar­ket.T&T's net of­fi­cial re­serves cur­rent­ly stand at US$10,134 mil­lion, rep­re­sent­ing in ex­cess of 12 months of im­port cov­er.

The Cen­tral Bank said it con­tin­ues to close­ly mon­i­tor the do­mes­tic for­eign ex­change mar­ket and will act proac­tive­ly to en­sure mar­ket or­der and sta­bil­i­ty.