Governor of the Central Bank Jwala Rambarran recently introduced an allocation system where 90 per cent of the available foreign exchange is auctioned to 12 foreign exchange dealers. He said mprovements were made to the foreign exchange allocation system, not the auction system in an effort to realign the Central Bank’s foreign exchange allocation system to match expanding imbalances in the domestic foreign exchange market.
The authorized dealers, including for non-bank financial institutions are as follows:
1. AIC FINANCE LIMITED
2. ANSA MERCHANT BANK LIMITED
3. BANK OF BARODA (TRINIDAD & TOBAGO) LIMITED
4. CITIBANK (TRINIDAD) LIMITED
5. CIBC FIRST CARIBBEAN INTERNATIONAL BANK LIMITED
6. DEVELOPMENT FINANCE LIMITED
7. FIRST CITIZENS BANK LIMITED
8. GENERAL FINANCE CORPORATION LIMITED
9. INTER COMMERCIAL BANK LIMITED
10. RBC ROYAL BANK (TRINIDAD & TOBAGO) LIMITED
11. REPUBLIC BANK LIMITED
12. SCOTIA BANK (TRINIDAD & TOBAGO) LIMITED.