Cen­tral Bank has sold a to­tal of US$325 mil­lion to the bank­ing sys­tem since its pro­gramme of strate­gic for­eign ex­change in­ter­ven­tions for the fi­nal quar­ter of 2014 start­ed five weeks ago.

In a state­ment is­sued yes­ter­day, the bank said it start­ed its se­ries of US dol­lar sales on Oc­to­ber 8 with a sale of US$50 mil­lion. Just eight days lat­er, the sec­ond sale was con­duct­ed on Oc­to­ber 16 for an­oth­er US$50 mil­lion. Cen­tral Bank then in­ject­ed US$100 mil­lion in­to the bank­ing sys­tem just five days lat­er on Oc­to­ber 21. On Oc­to­ber 30, US$50 mil­lion were sold and the lat­est in­ter­ven­tion worth US$75 mil­lion oc­curred No­vem­ber 6.

This se­ries of de­lib­er­ate­ly-timed US dol­lar in­jec­tions demon­strate Cen­tral Bank's com­mit­ment to, as far as it pos­si­bly can, pro­vide a re­li­able sup­ply of for­eign ex­change to the busi­ness com­mu­ni­ty and pub­lic. So far, Cen­tral Bank has sold US$1.5 bil­lion to the fi­nan­cial sys­tem for 2014 and has pro­vid­ed 25 per cent of the to­tal sup­ply of for­eign ex­change to the mar­ket.

T&T's net of­fi­cial re­serves cur­rent­ly stand at US$11.3 bil­lion.