-says hard currency flows expected to adequately cover imports
Total foreign exchange transactions for the first half of this year increased by 39.0 percent to US$9,889.1m compared to the first six months of last year and the Central Bank is assuring that the exchange rate for US dollar is expected to remain “relatively stable” and flows to the market are expected to adequately cover imports.
The assurance in the recently released report comes amid public expressions by businessmen about difficulties in sourcing US dollars for imports.
The report said that the rise in foreign exchange business is due to increases in transactions through bank and non-bank cambios, foreign currency accounts and hard and soft currencies. Transactions through foreign currency accounts and cambios accounted for 84.2 percent of the total volume of trade. The Guyana dollar mid-rate, used for official transactions, remained unchanged at $208.50.
