The Cen­tral Bank said it sold US$75 mil­lion to the fi­nan­cial sys­tem yes­ter­day as part of its "sched­uled for­eign ex­change in­ter­ven­tion pro­gramme.""As with re­cent in­ter­ven­tions, this sale was timed to sup­port the for­eign ex­change mar­ket and to pre­empt any sig­nif­i­cant tight­en­ing in light of an­tic­i­pat­ed low­er vol­umes of US cur­ren­cy con­ver­sions by en­er­gy sec­tor com­pa­nies in Au­gust 2014," the bank said in a state­ment

So far this year, the Cen­tral Bank has sold US$940 mil­lion to au­tho­rized deal­ers, the equiv­a­lent of 25 per cent of the to­tal sup­ply to the for­eign ex­change mar­ket.The bank said it will con­tin­ue to pro­vide fur­ther sup­port to the do­mes­tic for­eign ex­change mar­ket over the next few weeks.At the end of Ju­ly, T&T's net of­fi­cial re­serves stood at US$10,180 mil­lion, rep­re­sent­ing in ex­cess of 12 months of im­port cov­er.

The bank said it will con­tin­ue to mon­i­tor con­di­tions in the do­mes­tic for­eign ex­change mar­ket and act proac­tive­ly to en­sure mar­ket or­der and sta­bil­i­ty.