Forex Rates

[SuperiorMan]

Hello Tuner Friends,

I have a question to ask.

Right now according to Google, 1 United States Dollar equals 6.77 Trinidad & Tobago Dollars.

What do you think this rate will be in 5-10 years?

Thank you.

[widdyphuck]

Hello Tuner Friends,

I have a question to ask.

Right now according to Google, 1 United States Dollar equals 6.77 Trinidad & Tobago Dollars.

What do you think this rate will be in 5-10 years?

Thank you.

The economy in Trinidad will collapse long before that so it doesn't matter.

[SuperiorMan]

Hello Tuner Friends,

I have a question to ask.

Right now according to Google, 1 United States Dollar equals 6.77 Trinidad & Tobago Dollars.

What do you think this rate will be in 5-10 years?

Thank you.

The economy in Trinidad will collapse long before that so it doesn't matter.

Hello wtf,

If it doesn't collapse what do you think it will be though? In your honest opinion.

[Blaze d Chalice]

My guess would be like 7.20-7.50 (highest and lowest)

But regardless, usd is still tootoo money.

[SuperiorMan]

My guess would be like 7.20-7.50 (highest and lowest)

But regardless, usd is still tootoo money.

Why do you think so?

[widdyphuck]

My guess would be like 7.20-7.50 (highest and lowest)

But regardless, usd is still tootoo money.

Why do you think so?

It will probably go to 8 max.
It will also be extremely difficult to acquire via the bank so dont even bother trying to get it by request. You'll just be wasting your time on this earth.

[Blaze d Chalice]

I just pull out them figures by watching how it move in the last 5-10 years and seeing how Covit had no huge impact. Anything could happen. A next Soros-type could decide to crash out their dollar. Crypto etc.

[elec2020]

^covid had no impact due to significant government interventions on the real and financial side. You can only delay the inevitable for so long

[dogg]

is it legal to pay for items with US currency from your own bank account?
Such as by transferring to a third party account.

[paid_influencer]

is it legal to pay for items with US currency from your own bank account?

yes

Such as by transferring to a third party account.

maybe, this may start anti-money laundering investigations. Why are you transferring to a third-party account?

[dogg]

is it legal to pay for items with US currency from your own bank account?

yes

Such as by transferring to a third party account.

maybe, this may start anti-money laundering investigations. Why are you transferring to a third-party account?

To pay for items or house or land with US currency where the vendor will reduce the price if US currency is paid.

If one has legitimate cash in US accounts that cannot be withdrawn. Is it legal to transfer to a third party as payment for purchases?

[widdyphuck]

is it legal to pay for items with US currency from your own bank account?

yes

Such as by transferring to a third party account.

maybe, this may start anti-money laundering investigations. Why are you transferring to a third-party account?

To pay for items or house or land with US currency where the vendor will reduce the price if US currency is paid.

If one has legitimate cash in US accounts that cannot be withdrawn. Is it legal to transfer to a third party as payment for purchases?

Yes. Its only when you want to withdraw US in your hand that's where the problem starts.
If you transfer electronically no problems.

[paid_influencer]

To pay for items or house or land with US currency where the vendor will reduce the price if US currency is paid.

If one has legitimate cash in US accounts that cannot be withdrawn. Is it legal to transfer to a third party as payment for purchases?

Just so I understand, you are transferring to the seller's account, or a third-party (neither buyer nor seller)?

[dogg]

To pay for items or house or land with US currency where the vendor will reduce the price if US currency is paid.

If one has legitimate cash in US accounts that cannot be withdrawn. Is it legal to transfer to a third party as payment for purchases?

Just so I understand, you are transferring to the seller's account, or a third-party (neither buyer nor seller)?

Yes, to the sellers account. Sorry for the misunderstanding.

[AlphaMan]

Where are Car Dealers getting Forex to bring in cars?
Isnt this forex issue still affecting Trinidad?

[Blaze d Chalice]

They was ever "not getting" ?
It will only affect you if you going through the "normal" means.

As mentioned I don't ask tenants where they getting the US from.

Before Covee I also used to use some apartment as Airbnb and I would let foreigners know even before they book the apartment, that there is an "onsite money exchange"

Having that kinda forex "not in the bank" does come with headache if you just storing it and not using it.
Like Quamie dem does have a 6th sense.

[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.

[The Bamboo Online]

all them chinese groceries, gambling houses, cook shops an other chinese owned business all send money back to china. HOW IN GOD GREEN EARTH THE CHINESE CAN GET US $ TO BUY TO SEND BACK TO CHINA?

Put up a sign with your cell number on T&Tec poles around town saying….. Buying USD $8-9TTD - $1USD…. And you will have no shortage no more.

[Dizzy28]

IMF calls on Govt to fix FX system
By
Joel Julien -
March 10, 2022

The International Monetary Funds (IMF) has said that persistent foreign exchange shortages have highlighted the need to reform the foreign exchange market infrastructure in this country.

The IMF made the statement following its Executive Board’s conclusion of an Article IV consultation with T&T on February 9.

“While the authorities’ commitment to maintaining a stable peg seems well understood by market participants, the mechanisms to ensure a well-functioning FX market could be improved to reduce uncertainty,” the IMF stated.https://www.cnc3.co.tt/imf-calls-on-gov ... fx-system/

[timelapse]

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.

[hover11]

IMF calls on Govt to fix FX system
By
Joel Julien -
March 10, 2022

The International Monetary Funds (IMF) has said that persistent foreign exchange shortages have highlighted the need to reform the foreign exchange market infrastructure in this country.

The IMF made the statement following its Executive Board’s conclusion of an Article IV consultation with T&T on February 9.

“While the authorities’ commitment to maintaining a stable peg seems well understood by market participants, the mechanisms to ensure a well-functioning FX market could be improved to reduce uncertainty,” the IMF stated.https://www.cnc3.co.tt/imf-calls-on-gov ... fx-system/

Correct me if I'm wrong but isn't the only way to fix our forex issue means that the government would have to agree to devalue the dollar? Alot of tough decisions has to be made in the not too distant future

[bluefete]

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

[VexXx Dogg]

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

Source?

[hover11]

Well the currency is already devalued in reality. Every online store has a higher exchange rate for TTD, as well as Western Union and MoneyGram, which is probably the actual real value of the TTD to USD. By the government not doing devaluation, they are just making the issue worse for the future when it really has to happen. Imagine when they do decide to devalue and the real price is $10TTD = $1USD. Economic collapse overnight


Anyway let's continue kicking the can down the road

[adnj]

Well the currency is already devalued in reality. Every online store has a higher exchange rate for TTD, as well as Western Union and MoneyGram, which is probably the actual real value of the TTD to USD. By the government not doing devaluation, they are just making the issue worse for the future when it really has to happen. Imagine when they do decide to devalue and the real price is $10TTD = $1USD. Economic collapse overnight


Anyway let's continue kicking the can down the road

That is you trying to use TTD to purchase goods. Many businesses are charged a premium by their payment services providers to accept foreign currency. If you want better rates, you need better payment options - anything is better than Western Union.

The TTD values have traded between USD 0.160 to USD 0.147 for ten years.

[hover11]

Well the currency is already devalued in reality. Every online store has a higher exchange rate for TTD, as well as Western Union and MoneyGram, which is probably the actual real value of the TTD to USD. By the government not doing devaluation, they are just making the issue worse for the future when it really has to happen. Imagine when they do decide to devalue and the real price is $10TTD = $1USD. Economic collapse overnight


Anyway let's continue kicking the can down the road

That is you trying to use TTD to purchase goods. Many businesses are charged a premium by their payment services providers to accept foreign currency. If you want better rates, you need better payment options - anything is better than Western Union.

The TTD values have traded between USD 0.160 to USD 0.147 for ten years.

FACT: TTD is only worth of value in T&T outside of that it is worthless

[adnj]

Well the currency is already devalued in reality. Every online store has a higher exchange rate for TTD, as well as Western Union and MoneyGram, which is probably the actual real value of the TTD to USD. By the government not doing devaluation, they are just making the issue worse for the future when it really has to happen. Imagine when they do decide to devalue and the real price is $10TTD = $1USD. Economic collapse overnight


Anyway let's continue kicking the can down the road

That is you trying to use TTD to purchase goods. Many businesses are charged a premium by their payment services providers to accept foreign currency. If you want better rates, you need better payment options - anything is better than Western Union.

The TTD values have traded between USD 0.160 to USD 0.147 for ten years.

FACT: TTD is only worth of value in T&T outside of that it is worthless

Most currencies cannot be used outside of their home country, so what's your point? Try spending Pound notes, Canadian dollars or Euros at a gasoline station in the US and you'll be up to speed.

Don't get me started on Mexican pesos.

[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?

[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.

[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