TRINIDAD AND TOBAGO: Approximately a year before US Presidential and Trinidad and Tobago general elections, the Trinidad and Tobago Central Bank reissued its $100 dollar note. The change was an attempt to right side its currency from black market stakeholders. Effective December 31, 2019, the 100 dollar currency is officially phased out of circulation in a series of repurchase agreements with the Trinidad and Tobago Central bank. Now they release a new $100 Polymer Note
International monetary policy strategy, first implemented by the Reserve Bank of India (RBI), attempts to reduce liquidity in the black market and better control econometric futures.
Cash deposits over 10,000 will require proof of funds statements, similar to US regulations.
Easing Capital Outflows
The Trinidad and Tobago Central Bank strategy designed to ease capital outflows and concentrate on industrial production and development has been effective at improving the economic climate of the region.
The new $100 Polymer Notes offer a set of key security features. A section of the bill is even transparent.
Prime Minister Keith Rowley could not offer any further specifics on the cost of the issue, as the matter fell under the guidelines of national security.
International policy estimates put the figure in the 36 Trillion dollar range including the accelerated growth of the economy and the digital transition offered with the advent of cryptocurrencies.
There is still room for further development with a 1.2 percent core inflation rate.
The most important key for the government is to target that development accurately while re-engineering the financial sector to become a leader in the new digital economy.
The Trinidad and Tobago Central Bank Repo rate is set at 5.00 percent.
The Central Bank Act was amended to authorize the cancellation of the old note on December 7th 2017. The new $100 Polymer Notes were available immediately thereafter.
Lead Image: The mostly blue 156- by 66-millimeter note was printed by De La Rue. It has some of the firm’s standard “feel, look, tilt” security features. Images courtesy of Central Bank of Trinidad and Tobago.