Currency Devaluation??? Get your USD now

[88sins]

Wait for eeeet...... it’s coming>..... sooner that you think and like ahh tief in the night

after they win elections.....

Hasn't that been said in this thread since 2015?

I just amazed it eh reach 8:1 yet, seeing as oil prices still anemic & we importing 100% of our fuel now. It has had some slow steady upward movement, but it still not nowhere close to where it was before the crash



but as d man say, wait for eeeet.
ah sure d albino douen sharpening he teeth

[pugboy]

what is street price 7.5+ ?

[shake d livin wake d dead]

He won't do it in this election fever...plus he will wait for all his boys to gather as much forex as possible before he announces the devaluation...but 8:1 or 8.50:1 seems like the likely figure

[88sins]

what is street price 7.5+ ?

7-7.25, but a few places going as high as 8.

[zoom rader]

Wait for eeeet...... it’s coming>..... sooner that you think and like ahh tief in the night

after they win elections.....

Hasn't that been said in this thread since 2015?

Defend dem, you go bia

Live off stupid people

[bluefete]

The street price is what people are accustomed to by now so going higher can cause some serious problems.

[Ben_spanna]

He won't do it in this election fever...plus he will wait for all his boys to gather as much forex as possible before he announces the devaluation...but 8:1 or 8.50:1 seems like the likely figure

what the fvuk you mean wait for all his boys??? wth you think they been doing for the past 4 years! why you think manufacturers and legitimate businesses cant get forex even though they were promised?
Its already been put into action!

[eliteauto]

Normally I ignore your patently asinine comments ZR, however let's engage, what about my question defended anyone? Firstly persons have been crying devaluation since 2015 in this thread that's a fact, how many " next week/month/budget ' for sure have we seen without it coming to pass? Secondly what about devaluing the dollar is so inherently demonic that we need to add all these conspiracy theories? There are both arguments for and against devaluation but instead of discussing that tuners are more interested in political narratives designed to rile up the financially illiterate. But doh worry yuhself dem PNM hoarding de US$ so they could make TT$ profit on a devalued currency to buy imported goods makes perfect business sense ent?

[assassin]

Anybody knows when the ban on forex will be lifted?

What ban?

the one tat goin on currently& super restricted & can't be purchased from 3rd parties

There is no ban. There is a shortage based on demand and supply further exacerbated by priority disbursement to select corporations an companies. Banks rate their customers based on profitability to the themselves (when I worked FCB they used A, B, C to denote rank level) so they seemingly give the customers most valuable to them the forex.

And wrt 3rd parties the law (Foreign Exchange Control Act) has always been that it is illegal to purchase, borrow or sell forex from non licensed dealers without the approval of the Central Bank.

This is a big problem, government policy on forex should set a tiered system with govt, commercial and non-commercial classification prioritizing use of forex for health, national security, tourism, essential food imports and export manufacturers. Retailers should be on the bottom rung and pay a premium for forex as they only worsen the situation. Same for franchises that pay US franchise fees, premium on their forex purchases.

The tiered system for distribution of forex was a factor that accelerated the collapse of venezuela's economy.

The restrictions fueled the forex black market. We have a black market with a rate of about 1.15 x bank rate, largely driven by convenience and quantity. Vene black market rate was about 50 x more.

It is a horrible idea. Manufacturers and wholesalers realized more profit could be made by selling their US$ on the black market rather than providing their business services

With current shortages anyone could still get a lil $300 US. Imagine if you couldn't even get that and only option was to pay 50 to 1 on d outside

[zoom rader]

Normally I ignore your patently asinine comments ZR, however let's engage, what about my question defended anyone? Firstly persons have been crying devaluation since 2015 in this thread that's a fact, how many " next week/month/budget ' for sure have we seen without it coming to pass? Secondly what about devaluing the dollar is so inherently demonic that we need to add all these conspiracy theories? There are both arguments for and against devaluation but instead of discussing that tuners are more interested in political narratives designed to rile up the financially illiterate. But doh worry yuhself dem PNM hoarding de US$ so they could make TT$ profit on a devalued currency to buy imported goods makes perfect business sense ent?

All of my comments have always come to pass bro.

Your last comments are true folk are hoarding US and just waiting for the killing.

You have always defended the PNM and 1% and it's no secret while blasting non PNM goverments. Your bias shows.

All rumors and conspiracy theories on PNM have always somewhat ending up being true. Those that dont initially believe are the die had sheeps.

[shake d livin wake d dead]

He won't do it in this election fever...plus he will wait for all his boys to gather as much forex as possible before he announces the devaluation...but 8:1 or 8.50:1 seems like the likely figure

what the fvuk you mean wait for all his boys??? wth you think they been doing for the past 4 years! why you think manufacturers and legitimate businesses cant get forex even though they were promised?
Its already been put into action!

because it have one more year to go...this is where all the money gonna jump out

[Dizzy28]

Based on this the airport FCB reducing the amount of US$ you can get when you flying out.

[pyromaniax]

WhatsApp Image 2019-07-15 at 9.27.03 AM.jpeg

Based on this the airport FCB reducing the amount of US$ you can get when you flying out.

There is a Cambio in the airport that sells up to $5000 USD per person when you travelling, obviously at a higher rate tho i think I saw it at 7.8 recently not the expensive one outside.

[pugboy]

It’s $500 per fcb customer and 2 or 3 per non fcb customer plus a fee
Works out to 7-1

[Dizzy28]

It’s $500 per fcb customer and 2 or 3 per non fcb customer plus a fee
Works out to 7-1

It's a TT$75 fee.
On US$500 it works out to $6.92 to 1 US$.

[death365]

traditionally black and grey markets shows the real price of a commodity, it might be higher like us$ or lower like car parts aka from local authorized company vs d bamboo.

the true market forces always find a way,

[hydroep]

Chinese charged for money laundering
Jensen La Vende

TWO Chinese nationals will appear in court on Friday charged with money laundering after they were held at their Marabella home with over 100,000.

According to police, the men, Xiao Xio Bo Zhang, 33 and Bo Zhang 34, were held at a house at Toruba Road, Marabella on July 18 with $173,932. The men were charged by Cpl Roger Boodhoo and will appear before a Port of Spain Magistrate to answer charges under the Proceeds of Crime Act and the Gambling and Betting Act.

The men were allegedly running illegal Play Whe bets and also had roulette and other gaming machines without a liquor or a club license. The duo were held one day after another Chinese national Xiao Fu Hu, who had the same address, was arrested attempting to leave the country with US $213,500. He was charged by Customs and Excise for attempting to export a prohibited substance. The money was allegedly found in the lining of his suitcase.

https://newsday.co.tt/2019/08/01/chinese-charged-for-money-laundering/

[zoom rader]

Chinese charged for money laundering
Jensen La Vende

TWO Chinese nationals will appear in court on Friday charged with money laundering after they were held at their Marabella home with over 100,000.

According to police, the men, Xiao Xio Bo Zhang, 33 and Bo Zhang 34, were held at a house at Toruba Road, Marabella on July 18 with $173,932. The men were charged by Cpl Roger Boodhoo and will appear before a Port of Spain Magistrate to answer charges under the Proceeds of Crime Act and the Gambling and Betting Act.

The men were allegedly running illegal Play Whe bets and also had roulette and other gaming machines without a liquor or a club license. The duo were held one day after another Chinese national Xiao Fu Hu, who had the same address, was arrested attempting to leave the country with US $213,500. He was charged by Customs and Excise for attempting to export a prohibited substance. The money was allegedly found in the lining of his suitcase.

https://newsday.co.tt/2019/08/01/chinese-charged-for-money-laundering/

Small fry, 1% toting away a whole country

[Dizzy28]

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

[VexXx Dogg]

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

I was having issues with one of the 'approved' banks in San Francisco, but then it worked in the hotel kiosk. Go figure. May have been a comms issue. Try a different partner bank?

[The_Honourable]

Yeah try a different atm. Once you see the "Cirrus" logo (subsidiary of mastercard), it should work.

[Dizzy28]

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

I was having issues with one of the 'approved' banks in San Francisco, but then it worked in the hotel kiosk. Go figure. May have been a comms issue. Try a different partner bank?

Not there anymore to try any other location but as far as I am aware BoA is their only US partner for fee-less withdrawals.

[trinigamer]

I withdrew from a BoA ATM using a Scotia card up to last week. Didn't work first time tho, had to inform Scotia I was traveling. Only $80 at a time tho.

[TheBoostLord]

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

When i had to get my scotiacard replaced earlier this year due to it being compromised at a scotia atm, i was able to view the screen at the service desk and i saw all the limits imposed. For USD atm's it was $100.00

[pugboy]

Them 3rdparty kiosks does buss charges eh
Like $10-15usd and higher rates
Will work out around 8:1
That is how they make money

Scotia credit card works in boa and chase atms
With the charges it works out to about 7:1

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

I was having issues with one of the 'approved' banks in San Francisco, but then it worked in the hotel kiosk. Go figure. May have been a comms issue. Try a different partner bank?

[pj15]

Quick question.....If I use my Credit Card to purchase foreign currency over the counter at a Forex Kiosk (like Travelex) (as opposed to using their ATMs) , will that be treated as a regular purchase?or will it be treated as a cash advance and charges will be applied accordingly?

[Dizzy28]

I withdrew from a BoA ATM using a Scotia card up to last week. Didn't work first time tho, had to inform Scotia I was traveling. Only $80 at a time tho.

Previously I never had to so never informed Scotia I was traveling and it always worked. Guess they adding more gate checks. A few years ago you could have gotten US$200 a day now that measly $80

[l33t2]

Quick question.....If I use my Credit Card to purchase foreign currency over the counter at a Forex Kiosk (like Travelex) (as opposed to using their ATMs) , will that be treated as a regular purchase?or will it be treated as a cash advance and charges will be applied accordingly?

Regular purchase but you'd probably get a better deal from an ATM still

[VexXx Dogg]

Them 3rdparty kiosks does buss charges eh
Like $10-15usd and higher rates
Will work out around 8:1
That is how they make money

Scotia credit card works in boa and chase atms
With the charges it works out to about 7:1

Tried using my Scotia Card to get US$ in a Bank of America ATM last week and it didn't work. Even went as low as $20.

Last used I used this as an avenue to get money was last year in Nov where I got US$80 in one day.

Anyone knows if Scotia stopped this?

I was having issues with one of the 'approved' banks in San Francisco, but then it worked in the hotel kiosk. Go figure. May have been a comms issue. Try a different partner bank?

Can't remember but it wasn't that bad. Prob 5USD in fees at the time.

[pugboy]

I forgot to mention credit cards start calculating interest immediately
So one should zero their balance next day ASAP