Forex Rates

[SuperiorMan]

oh gooooood zoom getting mash up

[The Bamboo Online]

He is Confused because he probably comparing it to Bitcoin example. Buy when low sell when high.

While the 1% laughing at us as we speculate if they making money while all they are doing sheltering under the USD umbrella as the Government gives them “time” to divest before saying yep we got to devalue.

So basically the small man will get poorer after devaluation because of limited access to USD while the 1% remain basically at the same wealth level no richer or poorer and unaffected buy the change in TTD values.

[sMASH]

imburt saying by 20%,it might actually be more. but that is based on the USd, which is 6% officially, and given the amt of debt america accrues, it coudl actually be more as this vid suggests.
this is a big bubble waiting to burst.
the war in ukraine, with US selling guns and bombs will delay it, balance back muricahs books back to black, and may actually alleviate the bubble, if enough people buy things from america. there will still be a bubble, but not big enough to burst.

[zoom rader]

Once the TT dollar is devalued then 1% will make billions as they cash in the US they hoarded

Make billions of what?
The US they have won't have any more than the value they had before

I don't expect idiots like you and the other morons on here to understanding that the 1% see themselves as foreigners .

If you bank mega millilions of US abroad then you can contoll the outcome of a Banana Republic and capitalise further on cheap labour and imports.

Keep living in a box idiot




Economic effect of a devaluation of the currency

28 July 2019 by Tejvan Pettinger

A devaluation means there is a fall in the value of a currency. The main effects are:

Exports are cheaper to foreign customers

Imports more expensive.

In the short-term, a devaluation tends to cause inflation, higher growth and increased demand for exports.

A devaluation in the Pound means £1 is worth less compared to other foreign currencies. For example

Jan 2016. £1= $1.50

July 2016 – £1=$1.28 )

[https://www]

Sterling exchange rate index, which shows the value of Sterling against a basket of currencies.

This shows the devaluations in the value of the Pound in 1992, 2009 and 2016.

Effects of a devaluation

[https://www]

1. Exports cheaper. A devaluation of the exchange rate will make exports more competitive and appear cheaper to foreigners. This will increase demand for exports. Also, after a devaluation, UK assets become more attractive; for example, a devaluation in the Pound can make UK property appear cheaper to foreigners.

2. Imports more expensive. A devaluation means imports, such as petrol, food and raw materials will become more expensive. This will reduce the demand for imports. It may also encourage British tourists to take a holiday in the UK, rather than the US – which now appears more expensive.

3. Increased aggregate demand (AD). A devaluation could cause higher economic growth. Part of AD is (X-M) therefore higher exports and lower imports should increase AD (assuming demand is relatively elastic). In normal circumstances, higher AD is likely to cause higher real GDP and inflation.

[https://www]

4. Inflation is likely to occur following a devaluation because:

Imports are more expensive – causing cost push inflation.

AD is increasing causing demand pull inflation

With exports becoming cheaper, manufacturers may have less incentive to cut costs and become more efficient. Therefore over time, costs may increase.

[https://www]UK current account from 1987

5. Improvement in the current account. With exports more competitive and imports more expensive, we should see higher exports and lower imports, which will reduce the current account deficit. In 2016, the UK had a near record current account deficit, so a devaluation is necessary to reduce the size of the deficit.

6. Wages. A devaluation in the Pound makes the UK less attractive for foreign workers. For example, with fall in the value of the Pound, migrant workers from Eastern Europe may prefer to work in Germany than the UK. In the UK food manufacturing industry, more than 30% of workers are from the EU. UK firms may have to push up wages to keep foreign labour. Similarly, it becomes more attractive for British workers to get a job in the US because a dollar wage will go further. (FT – migrants become more picky about UK jobs)

7. Falling real wages. In a period of stagnant wage growth, devaluation can cause a fall in real wages. This is because devaluation causes inflation, but if the inflation rate is higher than wage increases, then real wages will fall.

Evaluation of a devaluation

The effect of a devaluation depends on:

1. Elasticity of demand for exports and imports. If demand is price inelastic, then a fall in the price of exports will lead to only a small rise in quantity. Therefore, the value of exports may actually fall. An improvement in the current account on the balance of payments depends upon the Marshall Lerner condition and the elasticity of demand for exports and imports

If PEDx + PEDm > 1 then a devaluation will improve the current account

The impact of a devaluation may take time to influence the economy. In the short term, demand may be inelastic, but over time demand may become more price elastic and have a bigger effect.

2. State of the global economy. If the global economy is in recession, then a devaluation may be insufficient to boost export demand. If growth is strong, then there will be a greater increase in demand. However, in a boom, a devaluation is likely to exacerbate inflation.

3. Inflation. The effect on inflation will depend on other factors such as:

Spare capacity in the economy. E.g. in a recession, a devaluation is unlikely to cause inflation.

Do firms pass increased import costs onto consumers? Firms may reduce their profit margins, at least in the short run.

Import prices are not the only determinant of inflation. Other factors affecting inflation such as wage increases may be important.

4. It depends on why the currency is being devalued. If it is due to a loss of competitiveness, then a devaluation can help to restore competitiveness and economic growth. If the devaluation is aiming to meet a certain exchange rate target, it may be inappropriate for the economy.

Winners and losers from Devaluation

[https://www]

Examples of devaluation

Leaving the ERM in 1992

UK devaluation of 1967

Devaluation of Indian Rupee

Why is Chinese currency undervalued? – the impact of weaker Chinese currency

Effect of devaluation of Pound – 2016 post Brexit

[https://www]

The Pound fell against major currencies, especially the Dollar due to Brexit. The effects will be:

Higher prices of imported goods.

Inflation. However, UK inflation was low to start off with, and the global economy is facing a period of deflationary pressures. So in this scenario, the inflationary effects of a devaluation are less damaging than usual.

Inflation combined with low wage growth (e.g. public sector pay freeze of 1%) – has seen a fall in real incomes causing lower consumer spending.

Exports should see a rise in demand because of the falling value of Sterling. However, the rise in exports may be muted by weak growth in the Eurozone and global economy. If global growth is low, we may see less growth in exports than we might usually expect. Demand may prove inelastic.

The Pound is falling which boosts exports, but the low wage growth means the strongest effect is the decline in real wages which damages economy

[zoom rader]

The rest of you idiots on here will never understand how shorting a stock works.

The 1% is just waiting to short Trinidad in order to own it and the people here .


Trinidad is a land full of idiots, it never amazes me .

[adnj]

The rest of you idiots on here will never understand how shorting a stock works.

The 1% is just waiting to short Trinidad in order to own it and the people here .


Trinidad is a land full of idiots, it never amazes me .

Sell your Florida property and Amazon stock so that you can buy land in Trinidad at 20% off and fight off squatters.

[RedVEVO]

Once the TT dollar is devalued then 1% will make billions as they cash in the US they hoarded

Make billions of what?
The US they have won't have any more than the value they had before

School is in session

The 1% buy USD $$ when it was 1 TT to 1 USD

They hoard it - Or they have invested the USD $$

Now if it reach 10 TT to 1 USD

What Zoom saying is Billions will be made .

Ring ring -- School bell and class done .

Time to pitch marbles .

lol.....while you make it look like they got more TTD in reality this will not make them any more wealthier than before. This not Bitcoin. What they are doing is protecting their assets by dumping TTD so don’t lose money after the TTD devaluation. Which will happen to you if you can’t hoard USD and realize you have less money to buy USD

The majority of the labelled 1% will always be more enriched than they were in every scenario.

Why ? It's simple .

The % are educated and practicing planners and highly educated on outside trends in business ( not the UWI types who are sad and fooled in an outdated institution ) so there is no comparison with the average peeps in T&T .

Forex rates means NOTHING to them since they are making the US dollars and not lining up begging for USD. Then 100% of the begging business peeps begging for USD are NOT producing or bringing in ANY USD . They are actually " USD termites ."

You have to understand the "golden rule" and if per chance you do not know the Golden Rule ..

Well OMG !

[xtech]

The rest of you idiots on here will never understand how shorting a stock works.

The 1% is just waiting to short Trinidad in order to own it and the people here .


Trinidad is a land full of idiots, it never amazes me .

But if they technically already own Trinidad and have the government in their pockets why are they still waiting to short Trinidad just to own it again?

https://www.zoomlifestyle.com/?fbclid=I ... GJ9go7FXw4

[daring dragoon]

no pappi, the 1% own the game, they control all the pieces, they roll the dice. what do you do when you not winning the game? you kick the board down and then start over. the PNM style of governing is the government call the shots and make the decision. the UNC republican style is that business call the shot an make business prosper. they 1% want to get rid of PNM an put back UNC watch and see.

[hover11]

The lost and misguided ones in this country are the ones who sincerely believe the government has the people's best interests at heart, everything the government does is to benefit financiers, helping some ppl is just a domino effect

[hover11]

Dr. Eric Williams once said " if we treat our economy the way we treat carnival, we would have a very strong economy."



Unfortunately the devaluation is inevitable. We need to hedge our liquid assets asap.

[Dave]

Most goods we buy are already priced at devaluation levels plus mark up. Would it mean prices increase after it is official and unnecessary profiteering would be had or prices would remain the same?

[xtech]

Dr. Eric Williams once said " if we treat our economy the way we treat carnival, we would have a very strong economy."



Unfortunately the devaluation is inevitable. We need to hedge our liquid assets asap.

Buy all the b14 and n16 u can find them thing does only go up in value

[bamfo_dennis]

is how colominbert say he kno more dan all d imf economist n finance ppl in d world n dat dem talkin sheit about 20% over valuation.......like he have phd in economics n fiscal management.........wait........nah he dont. he not even qualify to be treasurer of ah crix tin. d sheit go be rel bad when devaluation is forced on us. we seeing how d 6.3 us dollar already fake n nobody accepting it at dat rate. no forex. shortage of everyting. manufacturing companies closing down n leaving.

dunno who d fork dat lying arrogant speckled doomcont fooling nah.

[SuperiorMan]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

[hover11]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

It's been like this for the past 7 years ....what's the problem now?

[SuperiorMan]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

It's been like this for the past 7 years ....what's the problem now?

Don't get it. Who said there's a problem? Just wondering how long it might continue.

[hover11]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

It's been like this for the past 7 years ....what's the problem now?

Don't get it. Who said there's a problem? Just wondering how long it might continue.

The black market is flourishing ppl are buying us for 9 and 10 dollars. Government doesn't seem perturbed by such so all is well

[SuperiorMan]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

It's been like this for the past 7 years ....what's the problem now?

Don't get it. Who said there's a problem? Just wondering how long it might continue.

The black market is flourishing ppl are buying us for 9 and 10 dollars. Government doesn't seem perturbed by such so all is well

9 and 10...the fck.

Thought it was 8.

[eliteauto]

Sometimes you get lucky, a guy sold $1100US last week @ $7.50 up at the Hilton, but there are businessmen who come to the airport and offer taxi drivers and porters $8-$10 per USD, so they pool all their money and sell at those rates

[pugboy]

buying cash like that might be safest way


lot of ppl getting scammed with electronic transfers after trusting a seller after a few buys

[Ry an]

Would be good to know who is paying $8 to $10.

[pugboy]

8.x is a very common rate

Would be good to know who is paying $8 to $10.

[A172]

When you all think USD going to become more available for small businesses? How long you all think this gonna continue like this?

unless u were capable of getting several credit cards at each respective bank locally a few years back or know plenty people who did same, if u have a small business relying on forex u doomed

situation not changing

[zoom rader]

Men studying forex rates but pay no attention to the red government that put the hardships on exchange rates .

Continue

[SuperiorMan]

situation not changing

even if UNC get back in power?

[MaxPower]

Would be good to know who is paying $8 to $10.

Chinese groceries.

Small businesses in busy areas, like them clothes stores selling Bebe and imitation hollister and abercrombie who buy in bulk in Panama etc.

Dress properly and speak properly. If they are not your boss do not address them as “yeh d boss” and if it is morning time, it’s good morning and not “mornin mornin”.

Act like you have alot to sell and you have other customers. Show them you have a next thousand or so for someone else. If they are desperate they will offer to buy it. Hold strain and say no, even if they offer a higher rate. You promised another customer. This displays your honesty. Return a next day to sell them the same thousand. You now have them lock.

To sell at $10 is not impossible but will take longer to hunt around. $8 is fair based on the situation.

[eliteauto]

The Chinese paying 8, some gyro men on the Avenue paying 8, one food distributor is offering 8.5- 9 of he can be guaranteed 10-20k USD a month

[hover11]

If only we had a legal financial institution where we could buy forex at the established value and they were not restricting the amount we could purchase....hmmm if only

[Ry an]

The Chinese paying 8, some gyro men on the Avenue paying 8, one food distributor is offering 8.5- 9 of he can be guaranteed 10-20k USD a month

Is this cash or wire?