Supermarket owners are not necessarily negatively affected by the lack of forex in Trinidad and Tobago, according to word from Head of the Supermarket association Rajiv Diptee.
The impact of limited foreign exchange (forex) is being felt by local shoppers, especially small businesses.
Another factor is that Republic Bank announced a reduction in its credit-card spending limit to US$5,000 from US$10,000 per billing cycle with effect from Thursday.
This is the second reduction in two years; in 2021, the bank reduced its US$12,000 limit to US$10,000.
Finance Minister Colm Imbert said that supply had been reduced as the repatriation of forex earned through exports has decreased.
Speaking to the hosts on the Power Breakfast Show this morning Diptee explained that the Supermarket owners purchase in TT currency from their suppliers and so are not affected like other businesses.
He said the foreign exchange issue affect the distributors and this strains relations with international suppliers and local and foreign bankers.