Forex Rates

[adnj]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

No. Wrong answer.

[hover11]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

No. Wrong answer.

You fail....economics is at play here whether you agree or not , the longer we keep this floating rate it is going to do much more harm than good. Everything politicians want to do without making the real decisions, simply kicking the can down the road, we could have incrementally devalued it but no , we kept this artifical exchange rate, now the time has come , where a massive change has to be made

[bluefete]

You know how long the IMF saying that the real exchange rate should be TT$10.00 - US$1

Source?

The IMF - DUH!!!!

Actually, it was in one of their reports a few years ago.

Have to go dig up some files.

Once I find it I will post.

[eliteauto]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

[worksux101]

I'd like to know as well. Makes no sense to me other than making imported goods more expensive and artificially reducing demand by excluding persons who can no longer afford.

[hover11]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

[SuperiorMan]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

when you think that gonna happen?

[RedVEVO]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

Technically Hover is correct

Supply of foreign exchange - that is USD dollars Euro, pounds etc. - comes through exports of goods and services.

Following a devaluation the country's exports would become more competitive in the international markets.

China is an expert with the above

However what does T&T produce that will be exported to achieve the results ?

Hover makes a good point

[eliteauto]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

Thanks for the explanation, however, I don't think you've got it correct. In theory, a devaluation should do 2 things, firstly, dampen demand because the cost/price of imported products will increase, so less demand for goods equals more available forex as the available pool would have fewer buyers, however at our current exchange rate of say 6.8-1, we have a marketplace that's buying at 8,9,even 10-1 and we have businessmen going to Grenada and other islands to seek forex, so what would you peg the dollar at to dampen demand in a market already willing to pay more to satisfy current demand? The greatest impact of devaluation now would be to basic consumer goods affecting the most vulnerable of the populace, which is already affected by increased shipping costs, restricted supply etc.
Secondly, devaluation should attract forex through FDI or increased export demand, however, our vibrant manufacturing sector of the 1980s became an import-repackage-sell sector so what goods can we competitively increase export of when the main production inputs are imported? Our main forex earner is the oil-gas sector which has seen decreased production for over a decade, what would attract FDI?

Devaluation in a vacuum makes no sense at this time, I would only see Imbert doing that if it's linked to an FDI opportunity.

BTW that talk is 7 years old on tuner
viewtopic.php?f=4&t=643610

[RedVEVO]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

Thanks for the explanation, however, I don't think you've got it correct. In theory, a devaluation should do 2 things, firstly, dampen demand because the cost/price of imported products will increase, so less demand for goods equals more available forex as the available pool would have fewer buyers, however at our current exchange rate of say 6.8-1, we have a marketplace that's buying at 8,9,even 10-1 and we have businessmen going to Grenada and other islands to seek forex, so what would you peg the dollar at to dampen demand in a market already willing to pay more to satisfy current demand? The greatest impact of devaluation now would be to basic consumer goods affecting the most vulnerable of the populace, which is already affected by increased shipping costs, restricted supply etc.
Secondly, devaluation should attract forex through FDI or increased export demand, however, our vibrant manufacturing sector of the 1980s became an import-repackage-sell sector so what goods can we competitively increase export of when the main production inputs are imported? Our main forex earner is the oil-gas sector which has seen decreased production for over a decade, what would attract FDI?

Devaluation in a vacuum makes no sense at this time, I would only see Imbert doing that if it's linked to an FDI opportunity.

BTW that talk is 7 years old on tuner
viewtopic.php?f=4&t=643610

Your explanation is incorrect.

And how can ANY devaluation be in a vacuum ?

Explain .

[adnj]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

Thanks for the explanation, however, I don't think you've got it correct. In theory, a devaluation should do 2 things, firstly, dampen demand because the cost/price of imported products will increase, so less demand for goods equals more available forex as the available pool would have fewer buyers, however at our current exchange rate of say 6.8-1, we have a marketplace that's buying at 8,9,even 10-1 and we have businessmen going to Grenada and other islands to seek forex, so what would you peg the dollar at to dampen demand in a market already willing to pay more to satisfy current demand? The greatest impact of devaluation now would be to basic consumer goods affecting the most vulnerable of the populace, which is already affected by increased shipping costs, restricted supply etc.
Secondly, devaluation should attract forex through FDI or increased export demand, however, our vibrant manufacturing sector of the 1980s became an import-repackage-sell sector so what goods can we competitively increase export of when the main production inputs are imported? Our main forex earner is the oil-gas sector which has seen decreased production for over a decade, what would attract FDI?

Devaluation in a vacuum makes no sense at this time, I would only see Imbert doing that if it's linked to an FDI opportunity.

BTW that talk is 7 years old on tuner
https://www.trinituner.com/v4/forums/vi ... 4&t=643610

#thenumberoneanswer

[daring dragoon]

all them chinese groceries, gambling houses, cook shops an other chinese owned business all send money back to china, i doubt they sending the TT $ in an envelope back to china. banks limit the amount of US you can buy and even on CC and the same with western union etc. HOW IN GOD GREEN EARTH THE CHINESE CAN GET US $ TO BUY TO SEND BACK TO CHINA? I trying to get some goods to guyana and is ketch meh MC to get US cause TT banks dont want to accept guyana $ even though the same bank operates in both counties.

Chinese smart.They dealing in Canadian and Pounds.

canadian or pounds even euro or pesos doesnt matter if you shipping goods as the shipping company want paid in US $$$ to ship containers. if they sending the canadian or pounds to relative in china no problem i am sure but i need to pay to ship two containers a months to guyana and the dam cargo company want they money in US and guyana god dam right there. i will get USD in guyana but imagine I cant get to use it in TT as they want to convert to TT and all kinda BS.

[hover11]

Seems you're ok with not being able to access forex, it normal that the banks offering 100 dollars a day. That normal to you, that we have a black market for US?

Scarcity of foreign currency is not necessarily the same thing as currency devaluation.

Just buy Made in T&T. You'll be fine.

A devaluation would ease the burden thus allowing the banks ro release more forex it is the only answer.....buy made in T&T? please tell me what do we make in T&T that can substitute with what I need on a regular basis

Could you explain this further for my edification please?

Well as you are aware of our present situation where you are unable to access 200 US from the bank on any given day, once they devalue the dollar the Central Bank would be able to allow more forex to be available from commercial banks , the logic is based on the fact that it would be more expensive thus you would be therefore be able to access less. Either way it is going to happen whether we like it or not is not a matter of if but WHEN, is just to wait and see who has the political testicular fortitude to do so

Thanks for the explanation, however, I don't think you've got it correct. In theory, a devaluation should do 2 things, firstly, dampen demand because the cost/price of imported products will increase, so less demand for goods equals more available forex as the available pool would have fewer buyers, however at our current exchange rate of say 6.8-1, we have a marketplace that's buying at 8,9,even 10-1 and we have businessmen going to Grenada and other islands to seek forex, so what would you peg the dollar at to dampen demand in a market already willing to pay more to satisfy current demand? The greatest impact of devaluation now would be to basic consumer goods affecting the most vulnerable of the populace, which is already affected by increased shipping costs, restricted supply etc.
Secondly, devaluation should attract forex through FDI or increased export demand, however, our vibrant manufacturing sector of the 1980s became an import-repackage-sell sector so what goods can we competitively increase export of when the main production inputs are imported? Our main forex earner is the oil-gas sector which has seen decreased production for over a decade, what would attract FDI?

Devaluation in a vacuum makes no sense at this time, I would only see Imbert doing that if it's linked to an FDI opportunity.

BTW that talk is 7 years old on tuner
https://www.trinituner.com/v4/forums/vi ... 4&t=643610

Eliteauto,

So I just going by your statements...we should keep the floating dollar and allow inflation to eat away, let's be real our dollar is already devalued it just isn't official yet. Who really views our rate as 6.7 to 6.9 anymore? This artificial exchange rate is doing much more harm than good for the economy due to the black market for US that is present. Sooner or later it is a bitter pill we have to swallow.

[xtech]

The government was able to hold the exchange rate where it’s at for so long because they had lots of oil and gas income dollars coming in and the central bank would use some to sell that to the peoples commercial banks at a this cheaper rate to supply the local marketplace for us to access some of the oil wealth directly and exchange our TTD for USD for biz or personal use.

But now the flow is gone we have a artificial shortage because the banks can’t get USD at $6 and they have no permission to sell for more so they have to ration the little USD that still comes into the country.

[hover11]

The government was able to hold the exchange rate where it’s at for so long because they had lots of oil and gas income dollars coming in and the central bank would use some to sell that to the peoples commercial banks at a this cheaper rate to supply the local marketplace for us to access some of the oil wealth directly and exchange our TTD for USD for biz or personal use.

But now the flow is gone we have a artificial shortage because the banks can’t get USD at $6 and they have no permission to sell for more so they have to ration the little USD that still comes into the country.

Which is basically stifling small businesses who cannot afford 8 to 1 and as far as I can remember small businesses are the driving force of any economy. The government keeps kicking the can down the road hoping it becomes someone else's problem

[xtech]

Which is basically stifling small businesses who cannot afford 8 to 1 and as far as I can remember small businesses are the driving force of any economy. The government keeps kicking the can down the road hoping it becomes someone else's problem

The government knows this and is technically keeping the exchange rate where it is to help the small businesses. So the government look good at election time. They keep saying there is no shortage of USD but in reality the party financiers their friends and other big boys with clout are given priority by the local banks and the government turns a a blind eye by not setting up rules to protect the ordinary man and protect his right to access available USD

[hover11]

Which is basically stifling small businesses who cannot afford 8 to 1 and as far as I can remember small businesses are the driving force of any economy. The government keeps kicking the can down the road hoping it becomes someone else's problem

The government knows this and is technically keeping the exchange rate where it is to help the small businesses. So the government look good at election time. They keep saying there is no shortage of USD but in reality the party financiers their friends and other big boys with clout are given priority by the local banks and the government turns a a blind eye by not setting up rules to protect the ordinary man and protect his right to access available USD

My problem is this, they doing this for political gain, what will happen to our children's children when the exchange rate can no longer be viable to maintain and it goes to 10 to 1 officially, we just making it worse for future generations by not facing hardships, if the ppl in NAR times didn't face hardships we wouldn't have been living the lifestyles we have today.

[Duane 3NE 2NR]

IMF: T&T dollar overvalued by 20.4%

THE real effective exchange rate (REER) of the T&T dollar implies that it is overvalued by 20.4 per cent, according to one of two models used by the International Monetary Fund (IMF) to assess the competitiveness of the domestic currency.

The real effective exchange rate is a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs.

Writing in the Article IV Consultation staff report, which was released last week, the IMF team that studied the T&T economy said the country’s real effective exchange rate depreciated by 7.2 per cent between March 2020 and June 2021 due to a 3.7 per cent depreciation in the nominal effective exchange rate and a 3.5 per cent decrease in the relative price index.

“Despite this depreciation, the real effective exchange rate remains overvalued with respect to the levels implied by medium-term fundamentals and desirable policies.

“This is consistent with the observed tightness in the domestic foreign exchange market and the one-sided interventions by the Central Bank of Trinidad and Tobago, which have kept the nominal exchange rate vis-à-vis the US dollar stable.”

In its assessment, the IMF team said one model that used changes in T&T’s current account—which is the difference between the value of exports of goods and services and the value of imports of goods and services—implied a real effective exchange rate overvaluation of 11.6 per cent.

https://trinidadexpress.com/business/lo ... 992f6.html

^ that would take it to TT$8.25 to 1 USD

[zoom rader]

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

[Duane 3NE 2NR]

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

[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 .

[xtech]

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

[hover11]

IMF: T&T dollar overvalued by 20.4%

THE real effective exchange rate (REER) of the T&T dollar implies that it is overvalued by 20.4 per cent, according to one of two models used by the International Monetary Fund (IMF) to assess the competitiveness of the domestic currency.

The real effective exchange rate is a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs.

Writing in the Article IV Consultation staff report, which was released last week, the IMF team that studied the T&T economy said the country’s real effective exchange rate depreciated by 7.2 per cent between March 2020 and June 2021 due to a 3.7 per cent depreciation in the nominal effective exchange rate and a 3.5 per cent decrease in the relative price index.

“Despite this depreciation, the real effective exchange rate remains overvalued with respect to the levels implied by medium-term fundamentals and desirable policies.

“This is consistent with the observed tightness in the domestic foreign exchange market and the one-sided interventions by the Central Bank of Trinidad and Tobago, which have kept the nominal exchange rate vis-à-vis the US dollar stable.”

In its assessment, the IMF team said one model that used changes in T&T’s current account—which is the difference between the value of exports of goods and services and the value of imports of goods and services—implied a real effective exchange rate overvaluation of 11.6 per cent.

https://trinidadexpress.com/business/lo ... 992f6.html

^ that would take it to TT$8.25 to 1 USD

Reality is what it is.The TT dollar is heavily overvalued and an overvalued currency encourages overconsumption of imports and weakens exports. For the good of the country the currency must be devalued.

Adjusting the rate to its market value will help solve this problem but too many people in TnT are benefitting from a giant scam where they can buy millions of forex at a low rate and resell on the black market

The blue print for this scam can be seen next door where it rivals drug trafficking as the biggest state run scam

[adnj]

So the problem isn't that there is a problem but that somebody is running a better scam than somebody else's scam.

Bullshitt recycling itself.

[hover11]

So the problem isn't that there is a problem but that somebody is running a better scam than somebody else's scam.

Bullshitt recycling itself.

Wake up and smell the coffee whether you like it or not it has to Devalue unless you have someway of making our GDP higher that politicians haven't thought of

[adnj]

Waiting for devaluation. *slowly rubbing palms together*

[zoom rader]

Waiting for devaluation. *slowly rubbing palms together*

1% waiting to cash in

[SuperiorMan]

How devaluation gonna affect small businesses?

[daring dragoon]

devaluation will make it even worst where we will have to spend more money to get USD. only hope is it will be to expensive to buy stuff online so people will make less online purchases freeing up the USD for businessmen,

[i_code_and_stuff]

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

people who don't understand this and keep saying men waiting to "cash in" desperately need a lesson on macroeconomics