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Castries – Governor of the Eastern Caribbean Central Bank (ECCB) Timothy Antoine says the currency in the subregion, remains “very strong” amid the economic fallout from the current COVID-19 pandemic.
In his Christmas message, Antoine pointed to the currency’s strength and highlighted it among “many achievements” for which the ECCB can be justifiably proud.
“Our EC dollar remains very strong. Its current backing in foreign reserves is 97 per cent,” Antoine said.
He also said the ECCB recorded its highest profit ever – $63.1 million. However, the ECCB Governor said the currency union is experiencing its largest shock, on record.