Trinidad and Tobago’s Central Bank Clarifies Foreign Currency Export Amid Cash Shipment Investigation

The Central Bank of Trinidad and Tobago has publicly defended its foreign currency export process amid an ongoing investigation into a shipment of cash. It issued a statement on July 4, 2026, addressing public concerns and clarifying the legal and operational aspects of foreign currency movement.

According to the Bank, authorized dealers are legally permitted to export foreign currency under the Exchange Control and Financial Institutions Acts. The Bank further explained that when US cash is exported, an equivalent amount is electronically transferred back to Trinidad and Tobago, resulting in no net loss to the country’s foreign currency reserves.

While acknowledging public concerns, the Bank was careful to point out that its statement should not be interpreted as commentary on the ongoing investigation. It committed to continuing to cooperate fully with relevant investigative agencies and to avoid making any statements that could potentially compromise their work.

In the broader context of the foreign exchange situation, the Bank has injected approximately US$1.2 billion into the local market over the past year. It also provided additional support to the tune of US$900 million for state enterprises, Eximbank financing, small and medium manufacturers, and essential imports.

As of the end of June 2026, the country’s foreign exchange reserves remained stable, equivalent to six months of import cover. Looking ahead, the Bank revealed plans for legislative reforms to strengthen oversight of the country’s foreign exchange system, including enhanced reporting requirements and tighter controls on cross-border cash shipments.