Cen­tral Bank says its in­jec­tion of US$50 mil­lion in­to the bank­ing sys­tem yes­ter­day is "the first of a se­ries of for­eign ex­change in­ter­ven­tions strate­gi­cal­ly timed to en­sure there is a con­sis­tent sup­ply of for­eign ex­change to meet de­mands of the busi­ness com­mu­ni­ty as the Christ­mas sea­son draws near."

For the year so far, the bank has sold US$1,190 mil­lion to au­tho­rised for­eign ex­change deal­ers–just over one-fifth of the to­tal for­eign ex­change sup­ply to the mar­ket.In a me­dia re­lease, the Cen­tral Bank said T&T's net of­fi­cial re­serves cur­rent­ly stand at US$10,135 mil­lion, rep­re­sent­ing ap­prox­i­mate­ly 12 months of im­port cov­er.

The bank said it is con­tin­u­ing to close­ly mon­i­tor the do­mes­tic for­eign ex­change mar­ket and "will act proac­tive­ly to en­sure mar­ket or­der and sta­bil­i­ty."