BOG has the supply of US dollars to meet demand

The Bank of Guyana (BOG) has noted the claims by some businesses in the press that there is a shortage of US dollars in the banking system. The BOG would like to reiterate that the banking system with an average monthly turnover in excess of USD500 million, has an adequate supply of US dollars to meet demand.

As of February 22, 2023, the banking system had USD 99.5 million available for transactions. BOG would like to state that while the available funds are not evenly distributed among the banks, there is enough to cover the cash flow needs of transactions arising from businesses in Guyana.

Cash flowing to the banks is cyclical, as such there will be periods of excess liquidity and periods when there will be a limited supply. The Bank continues to monitor the foreign currency position in Guyana to ensure there is no disruption nor adverse impact on economic activities.