The flow of foreign currency through the Guyana market dropped significantly in 2013 and this coincided with a depreciation in the local currency versus the US$.
Economist Tarron Khemraj writing in his Development Watch column in Wednesday’s edition of Stabroek News said that the data for analysing these flows was only available up to the end of September 2013 and so therefore he compared the positions as of September 2012 and September 2013.
In September 2012, he said that the total value in US$ of all foreign currencies bought by the commercial banks was US$181.3M. In the same period the non-bank cambios bought US$6.8M, thus showing that the commercial banks