Emerging Markets Rates and Currencies Handbook

Trinidad and Tobago (TTD - Trinidad and Tobago Dollar) Citi in Trinidad and Tobago Established in 1965, Citi Trinidad and Tobago has provided unique financial solutions to corporations, financial institutions and governments worldwide for over 50 years. Citi provides strategic and financial advisory services including acquisitions, mergers, divestitures, financial restructuring, loans, foreign exchange, cash management, underwriting and distributing bonds. Citi Trinidad and Tobago has pioneered the development of the financial services industry, introducing new structures and services and has been the recipient of key publications’ prestigious awards, including Best Country Corporate/Institutional Bank and Best Debt Bank. The main clientele are corporates, governments, quasi- governments and investors. Market Overview The Central Bank of Trinidad and Tobago is responsible for designing and implementing the national monetary policy. It controls the Trinidadian Dollar under a managed floating regime, allowing the currency to float within a price range against the USD. Additionally, the TTD has no liquidity outside Trinidad and Tobago. Due to recurrent shortages of USD in the local market, the Central Bank occasionally has to inject liquidity in the foreign exchange market currently done through pre-defined allocations to authorized FX dealers, administratively determining both the price and the volume transacted. The TTD floated in 1993 and is regulated by the Central Bank of Trinidad and Tobago. The major export of the country is oil and gas and subsequently most US inflows are derived from the Energy sector. On average the country tends to have greater demand for USD than what is supplied, given the high level of imports that the country has. 249