Foreign Currency Usage Limits on Credit Cards

[pugboy]

so anybody went to a bank to try and get another cc?

[Chimera]

Over 6 months now banks have been clamping down on issuing new credit cards

[MaxPower]

Yep, too much Trinis withdrawing usd and sending their cards abroad for relatives to take out cash from ATMs to sell on the black market.

[hover11]

Yep, too much Trinis withdrawing usd and sending their cards abroad for relatives to take out cash from ATMs to sell on the black market.

Where Venes getting USD to send for their families Max?

[pugboy]

venezuela is a full narco state
usd is available at the right price

everybody i know who has migrated has been doing this atm hack long time
dont talk about airline staff

Yep, too much Trinis withdrawing usd and sending their cards abroad for relatives to take out cash from ATMs to sell on the black market.

Where Venes getting USD to send for their families Max?

[MaxPower]

Yep, too much Trinis withdrawing usd and sending their cards abroad for relatives to take out cash from ATMs to sell on the black market.

Where Venes getting USD to send for their families Max?

Trinis target people who have a lil business, but mostly Venes, Chinese and gyro men when they want to sell their USD.

[zoom rader]

Trinis living on Credit cards

Jack arses have 3 to 8 cards and talking about self control

The real self control is to have no CC

[hover11]

He will impose a tax on credit usage soon, then the clowns like MERO and Wing will say
....Hail Imbert

[hover11]

Same thing I was saying do we need to bring in 2000 Vezels a month? Why is there no quota on new car dealerships? Interesting times ahead

[hover11]

The foreign exchange crunch is getting worse by the week and many businesses have had to turn to the black market.

While commercial banks in downtown Port-of-Spain are selling members of the public and some business owners US$200 on a good day, at stores a stone’s throw away, one can purchase up to US$3,000 for either at a price of between $7.50 and $9 for US$1.

Read more:
https://www.guardian.co.tt/business/thr ... 599e8c75f3

This is what imbert like, he like what happening here. Pay allya 9 tt for 1 UsD

[MaxPower]

Would love to know who buying for $[emoji[emoji62][emoji61]].

[pugboy]

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

[eliteauto]

7.5 is standard, some south lawyers buying at 8, some businessmen (Chinese) buying at 10 if you have over $10K USD to sell

[hover11]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

[Dizzy28]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

[pugboy]

it depends on the laws of supply and demand
if there is ample supply on street at 7.5
banks floating at 7.5 may not change much on black market price since demand may or may not reduce given the higher official floated price

the long and short is impsbert say no floating
so leave the street rate at 7.5
we been running at that street rate a long time

[paid_influencer]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

does the IMF say this
what does the IMF say

go ahead, enlighten us why the IMF advocates so heavily for a floatation

JC!!!!

[paid_influencer]

we should set the exchange rate to 2:1 since the rate does not affect supply/demand

JC!!!!

[mero]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

Dont buff the man, he a lil slow. He gonna ask this same question in this same thread again a hundred more times.

[hover11]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

Dont buff the man, he a lil slow. He gonna ask this same question in this same thread again a hundred more times.

Guess yall never heard of playing the devil's advocate huh....ppl were insinuating that a float will fix the dollar, so I indulged , the problem is a demand and supply issue so even if u float to 7.5 or 8 the demand still outstrips supply thus ppl will be open to going to the black market, where men would no longer be selling at 7.50 any more because the official rate changed thus devaluing the dollar even further. No matter what policy PNM tries to implement there will be adverse effects and consequences to such. They took too long to address this forex issue and that's the long and short of it.

[wing]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

Dont buff the man, he a lil slow. He gonna ask this same question in this same thread again a hundred more times.

Guess yall never heard of playing the devil's advocate huh....ppl were insinuating that a float will fix the dollar, so I indulged , the problem is a demand and supply issue so even if u float to 7.5 or 8 the demand still outstrips supply thus ppl will be open to going to the black market, where men would no longer be selling at 7.50 any more because the official rate changed thus devaluing the dollar even further. No matter what policy PNM tries to implement there will be adverse effects and consequences to such. They took too long to address this forex issue and that's the long and short of it.

Backpedal when called out on bs.

[paid_influencer]

wing, name one local economist in the Year of our Lord 2024 that is advocating for a fixed exchange rate instead of Wendell Mottley's managed float

if you can name more than one go ahead

[hover11]

The question is will floating it to 7.5 , mean more forex availability, if it was that simple why hasn't the short man done so a long time ago

7.5 is a good rate for the street
so even if floated it should not go much higher
and prices of imported goods wouldn’t skyrocket

JC!!!!

The answer is no. It's been said multiple times by multiple sources all a float does is cause the price to increase in response to demand and supply.
The supply of USD is limited by our declining energy production and global energy prices. (70% of the Public purchase of usd by banks consists of purchases from the energy sector)

It's still going to be difficult to get USD and the only difference is you will pay more for the 200 you getting from the bank.

Dont buff the man, he a lil slow. He gonna ask this same question in this same thread again a hundred more times.

Guess yall never heard of playing the devil's advocate huh....ppl were insinuating that a float will fix the dollar, so I indulged , the problem is a demand and supply issue so even if u float to 7.5 or 8 the demand still outstrips supply thus ppl will be open to going to the black market, where men would no longer be selling at 7.50 any more because the official rate changed thus devaluing the dollar even further. No matter what policy PNM tries to implement there will be adverse effects and consequences to such. They took too long to address this forex issue and that's the long and short of it.

Backpedal when called out on bs.

Not the master of the art trying to show me up here

[pugboy]

it is a good question if the black market supply will remain at 7.5 or jump above the speculated say floating rate of set 7.5
BUT if impsbert sticking to a “managed” float of 7.5 like the 6.8, it is not a true float since it is fixed….
again a moot point since he said he ain’t doing that
so the long and short is to seek out the black market suppliers and find ways of inserting the usd cash into accounts which can be used for wire transfers etc

[hover11]

The question to ask, is who benefits from the forex shortage. Vote wisely, someone is benefiting immensely from this situation

[wing]

The question to ask, is who benefits from the forex shortage. Vote wisely, someone is benefiting immensely from this situation

Another question is, even if there is a change of government, will anything actually change wrt Forex generation and allocation? I seem to recall a former government campaigning on axe the tax and never doing anything even with a constitutional majority.

[hover11]

The question to ask, is who benefits from the forex shortage. Vote wisely, someone is benefiting immensely from this situation

Another question is, even if there is a change of government, will anything actually change wrt Forex generation and allocation? I seem to recall a former government campaigning on axe the tax and never doing anything even with a constitutional majority.

A change in government is needed there are too many issues plaguing the country which the present administration are simply incapable of addressing

[paid_influencer]

kamla says she believes in more exchange rate flexibility. the buying rate for usd will probably increase under kamla

who d fok really want to sell for the current rate
tell me who selling usd for that who that dotish

if god forbid imbert get another term he will float. all this jackassness talk about fixed exchange rate is just stalling until after election. all allyuh pnm forkers know that which is why nobody in the pnm defending the fixed exchange rate thing too hard

[MaxPower]

Amazing how the ones complaining about the forex situation are the same people who vote for those who they think are responsible.

Allyuh eh fed up of being a dotish country with dotish people for the world to see?

Why it always “hadda be a Trini” everywhere we go?

The problem in this country is the mentality and the culture.

Voting for no change is a complacency problem too that allyuh have.

So, be VEX i telling allyuh as it is. Irdgaf

[Mmoney607]

The question to ask, is who benefits from the forex shortage. Vote wisely, someone is benefiting immensely from this situation

According to Syrian owned media company cnc3 it's small businesses on Charlotte and queens street that have all the US