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Trinidad's Central Bank Pushes Digital Payments as Forex Squeeze Persists

1 min read

The Central Bank of Trinidad and Tobago registered Convenience Pay as a provisional e-money issuer on June 3 and is taking public feedback on a draft Payment Systems and Services Bill until June 20. The reforms aim at faster, more inclusive digital payments.

The backdrop is a persistent foreign-exchange crunch, with US dollars commonly trading well above the 6.75 official rate on the parallel market and importers struggling to access currency promptly.

What this means for you: diaspora senders and Trinidad-based recipients should track how new e-money rails affect access to USD and the real cost of moving money in and out.