Currency Devaluation??? Get your USD now

[zoom rader]

I doubt it will be a sudden devaluation. They might just let the dollar slip.

If that is so then the ppl that voted for dem got conned

[pete]

Time will tell.

I have to buy something for 1000US just now so maybe I'll do it before the end of the year just in case..

[desifemlove]

Looking for anyone who is concerned about a pending currency devaluation. Premise being that the TT Dollar will soon be allowed to float freely and maintain a price set by the forces of demand and supply as opposed to being artificially kept at the current rate by the Central Bank pumping USD into the economy.

This will greatly affect the buying power of your TTD as let's say you have 600,000.00TTD in savings but the currency is devalued, your money at that point would only be able to buy 400,000.00 TTD worth of goods. If however that same 600,000.00 TTD was in USD, (100,000.00USD) you would be able to buy 600,000.00 TD worth of goods either directly or selling it at the new price higher price point for 800,000.00 TTD.

What do you guys think? Genuinely concerned or not?

If you or anyone you know is co

T&T's economy couldn't handle a free float like the GBP/USD/EUR.

i don't see the point of a devaluation. the things we trade are oil/gas and this is set by the markets. And manufacturing/services? lolol...tinned peas and cashew and ice cream are worth a devaluation, and tourism is not directly affected this. Point is in any econ policy, the effect has to be assured, like OK the TTD would be a lower value vis a vis the EC$ or Guyanese dollar, but this won't affect oil/gas exports or how much Barbadians or Surniamese gonna buy tinned fruits.

Do u even think before u post rubbish? How d f#@& a devaluation of the dollar will not have a negative effect on our oil/ gas export revenue? U make all these econ references. Just explain why tourism will not be affected. Whoever is responsible for your economics and business education needs to be shot. ASAP.

cos dude...demand for oil and gas ent solely based on FOREX rates. many things affect tourism demand, like location, season, and the like. I'm asking why devalue the dollar, since the standard rationale doh mek sense here.

[zoom rader]

Looking for anyone who is concerned about a pending currency devaluation. Premise being that the TT Dollar will soon be allowed to float freely and maintain a price set by the forces of demand and supply as opposed to being artificially kept at the current rate by the Central Bank pumping USD into the economy.

This will greatly affect the buying power of your TTD as let's say you have 600,000.00TTD in savings but the currency is devalued, your money at that point would only be able to buy 400,000.00 TTD worth of goods. If however that same 600,000.00 TTD was in USD, (100,000.00USD) you would be able to buy 600,000.00 TD worth of goods either directly or selling it at the new price higher price point for 800,000.00 TTD.

What do you guys think? Genuinely concerned or not?

If you or anyone you know is co

T&T's economy couldn't handle a free float like the GBP/USD/EUR.

i don't see the point of a devaluation. the things we trade are oil/gas and this is set by the markets. And manufacturing/services? lolol...tinned peas and cashew and ice cream are worth a devaluation, and tourism is not directly affected this. Point is in any econ policy, the effect has to be assured, like OK the TTD would be a lower value vis a vis the EC$ or Guyanese dollar, but this won't affect oil/gas exports or how much Barbadians or Surniamese gonna buy tinned fruits.

Do u even think before u post rubbish? How d f#@& a devaluation of the dollar will not have a negative effect on our oil/ gas export revenue? U make all these econ references. Just explain why tourism will not be affected. Whoever is responsible for your economics and business education needs to be shot. ASAP.

cos dude...demand for oil and gas ent solely based on FOREX rates. many things affect tourism demand, like location, season, and the like. I'm asking why devalue the dollar, since the standard rationale doh mek sense here.

Devaluation will suit this government financiers in making a mint

[fallen_angel]

I heard oil is expected to be in $20's and not expected to go above $50 anytime soon.
even saudi went from 90% GDP of oil to 75% GDP over the last year

[sMASH]

Read online that they're over 900bn in deficit, and raised their fuel prices by 40% to compensate.

The fact that 'muricah can sell crude now, means even more supply of fossil petroleum on the global market, that is why oil price can get to $20.

Trinidad needs to generate a demand for its currency, or it will devalue. If we can't sell oil and gas for a good price, we need to sell other things instead. At $20USd, that's practically giving it away. I would hoard it till prices get better and sell sum ting else.

[fallen_angel]

I heard there is a potential to add 1.5M bpd to the market also, I think from Iran, if this comes true in 2016 life in our paradise would become even sweeter than it already is

[hong kong phooey]

heard it happening right after Carnival
7.75 to 1

[hong kong phooey]

heard it happening right after Carnival
7.75 to 1

[Gem_in_i]

Its $6.50 right now. And rbc said they only giving $200US per day per person if you want US$$

[DVSTT]

Its $6.50 right now. And rbc said they only giving $200US per day per person if you want US$$

I thought it was $6.45.

[Gem_in_i]

Paid $6.50 last week

[Daran]

I for one welcome our new devalued currency.

[zoom rader]

Men vote for dat

[shake d livin wake d dead]

hosss give up nah^

[zoom rader]

hosss give up nah^

Men need to learn the hard way

[bluesclues]

hosss give up nah^

Men need to learn the hard way

i agree with this statement. years of pain and crime and pnm track record will be sealed.. opposition for life. we've seen it enough times now. giving them another chance regardless of who take the reigns of leadership will fall under the 'fool me thrice and i am a total damn jackass'.

unc and cop also off the table as an option next election. these parties eliminating themselves from power. lol

if i was your pm now i could save this country and bring the economy back to resillient growth within the year. and without these ridiculous taxes. not blank promises. i actually have damn good plans and am a master of making something from nothing. i would preserve the value of our currency and reduce crime without making paradise isle a police state.

[zoom rader]

^^^ That's the thing the only promise PNM made was Taxes and Racket Rail.

All of which is burden to the avg citizen

[X2]

Get ready to not find basic food items on the shelves of groceries.... Might come as a surprise for people born after the 90's...lol

How you like them apples ? (pun intended... you won't get any apples, fool !)

[zoom rader]

Get ready to not find basic food items on the shelves of groceries.... Might come as a surprise for people born after the 90's...lol

How you like them apples ? (pun intended... you won't get any apples, fool !)

Trin is full of sugar apples

[DVSTT]

Will the TTD ever regain it's original value if they indeed devalue it to 9 to 1USD ?

[DVSTT]

Will the TTD ever regain it's original value if they indeed devalue it to 9 to 1USD ?

[Allergic2BunnyEars]

Will the TTD ever regain it's original value if they indeed devalue it to 9 to 1USD ?

Buh where you hear 9? I heard they devaluing to TTD $23.75 to 1 USD.

[Pirate]

It's already slowly slipping... Fraid to see wah it go be after carnival.

Sent from my Nexus 5 using Tapatalk

[EmilioA]

LOL at the people saying "they going to devalue".

There will be no 'devaluation' like the old days. The currency will be simply be allowed to fall and market forces will be blamed.

[BRZ]

YES, look out for a predicted 8- 8.5-1 coming later in the year. whoopee!

[X2]

Predictions are actually closer to 7.50... but it should really go to 10+... the drop in oil prices are not the whole picture of course. US dollar and the last economic crash should have resulted in a significant decline in the value 7 years ago... but... yah know... illumi *internet connection severed*

[Habit7]

Devaluation: no problem?
Mark Wilson
Published: Sunday, January 31, 2016

Since last year’s election, the currency is down ten per cent against the US dollar. The Government and Central Bank have said almost nothing about it. The media have barely noticed. There’s no fuss. That’s not us. That’s Britain. The pound dipped below US$1.42 on Tuesday. Soon after David Cameron won the May 2015 election, sterling was close to US$1.60. In mid-2014, it was over US$1.70. And in the sunny days before the financial crisis, the rate was upwards of US$2. Over the past couple of years, almost every major currency has drifted steadily down against the US dollar.

Since mid-2014, when the oil price started to tumble, the euro has dropped around 20 per cent, and the Japanese yen by close to 15 per cent. The Canadian and Australian dollars are down by more than one-quarter, Mexico’s peso by almost one-third. And Brazil’s real has lost almost half its US$ value. Don’t even ask about the Venezuela’s bolivar. China’s tightly managed yuan or renminbi has moved from just over six to the US dollar at the start of 2014. The rate is now around yuan 6.58 to the US$. Meanwhile, the US$ rate for the TT$ and its pegged Caribbean counterparts remains written in stone. Against other world currencies, they have been carried sharply up—as they have against the Jamaica dollar.

Given the economic fundamentals, it’s a move in the wrong direction. Most of all for T&T, with energy prices tumbling. Internationally, exchange rates shift, sometimes in a couple of seconds. It’s part of their job description. In most countries, most of the time, that’s not news. When the exchange rate is pegged to the US dollar, it’s different. Back in the 1960s, Britain has a fixed-value currency. Prime minister Harold Wilson devalued the pound by 15 per cent. There was a political earthquake. He was booted out at the next election. In the last couple of years, David Cameron has allowed sterling to drift down by much more than this. Few people raise even an eyebrow.

For almost a generation, the TT$ has in theory floated—but it has in practice been pegged at just over six to the US$. Central Bank currency management has efficiently smoothed out the out week-to-week variations in currency flow. Foreign exchange reserves trended steadily upwards. Is that policy sustainable with oil prices down by more than two-thirds since mid-2014? It’s not just oil prices. As we heard at the Energy Chamber conference, the bad news extends to methanol, ammonia and LNG. Optimists talk of a turnaround in a couple of years, others are looking at the 2020s.

In pure theory, market forces should be trending the TT$ downwards. They have not been allowed to. There has been only a marginal shift in exchange rates. Moving from a currency peg is not easy. A sudden drop in the TT$ would be big news, and big trouble. The price of US imports would jump. Fear of further depreciation could lead to capital flight and other nasties. In principle, the downward shift in other currencies should soften the blow. A TT$ depreciation of 15 per cent would leave purchases from Europe, Canada, Japan and South America slightly cheaper in local currency terms than they were in mid-2014.
But it’s not that easy. Catch number one: most manufactured imports are Chinese. The yuan has depreciated too, but by less than other non-US currencies. Catch number two: importers are used to buying from Miami, and pricing in US dollars. Would they shift to new sources? Would they pass the savings on to consumers? I don’t know enough about logistics and purchasing to judge.

Devaluation is a tough call. Suriname, like T&T, has been under pressure from falling commodity prices. The tax take from oil and gold plunged last year, and the bauxite industry shut down altogether. Suriname devalued its currency by 16 per cent in November, moving the rate to four Suriname dollars for US$1. Since then, their experience has not been encouraging. Inflation bumped up immediately. Worse, the currency continued to slide on the parallel market. The under-the-counter rate for US$ was up to SRD5.50 a couple of weeks ago. Then something odd happened. The head of the private-sector cambio owners’ association popped up at the head table of a finance ministry press conference. Next, the cambios supplied a small state-owned bank, Postspaarbank, with a flood of US$ of uncertain origin, which it offered for sale at SRD5.15. Asked where all this currency came from, Suriname’s president, Desi Bouterse, said he had no idea. Commentators asked whether money laundering source-of-funds controls had been relaxed.

The influential Suriname Association of Trade and Industry is unhappy. The main commercial banks last week blocked large transfers to or from the Postspaarbank. “War breaks out,” headlined Suriname’s leading daily De Ware Tijd on Thursday. Suriname meanwhile has asked the IMF, World Bank, Caribbean Development Bank and Inter-American Development Bank for longer-term help. Britain’s David Cameron should count himself lucky.

http://m.guardian.co.tt/columnist/2016- ... no-problem

[TriniAutoMart]

Currency value already started to fall apparently.
Paid $6.514 for 1 US$ today.

[bluesclues]

ttd:yuan basically 1:1

when the ttd starts slipping against the yuan, the usd will follow soon after. usa has to do something about it's debt or i predict an eventual loss in investor confidence in it as a world reserve currency.