The Eastern Caribbean Central Bank’s Board of Directors has conducted a special meeting to evaluate foreign currency reserve management strategies as the region prepares to commemorate five decades of its stable exchange rate mechanism. The session featured comprehensive briefings on the policies and protective measures safeguarding the Eastern Caribbean Currency Union’s reserves, which form the foundation of the fixed EC$2.70 to US$1.00 exchange rate established in July 1976.
During the high-level discussions, directors examined the governance frameworks directing reserve management decisions, risk mitigation systems protecting the currency peg, and asset distribution approaches designed to enhance financial stability across member nations. The Board emphasized its commitment to maintaining prudent, sustainable reserve management practices capable of adapting to dynamic global financial environments.
The meeting saw participation from all eight ECCU member states, including representation from Antigua and Barbuda alongside the seven other territories. Central Bank Governor Timothy N.J. Antoine presided over the proceedings, with Deputy Governor Dr. Valda F. Henry serving as the other executive member alongside representatives from each participating jurisdiction.