Exchange rate depreciates further

Date: 
Thursday, March 17, 2016 - 00:00

The exchange rate between the T&T dollar and the US dollar has depreciated again.

It will now cost you TT$6.62 for US$1 from today. On Wednesday the exchange rate was TT$6.60.

Supermarkets are already warning that once the TT dollar continues to depreciate, food prices will climb.

The Supermarket Association has announced a 3 to 5 percent price increase across the board. This follows notices from their suppliers.

Asked if the Government will intervene, Finance Minister Colm Imbert said he could not give a definitive answer, noting that the rate is managed by the Central Bank.

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