ronan posted:

1. Bibi Haniffa posted:

ronan posted:

• Bibi Haniffa posted:

ronan posted:

bibi checking in with the emerergency huddle of the bald head tief and he associates fuh come up with better talking points

baseman and labba please come in

Why is Jordan launching an investigation into the cambios?  He knows fully well that the banks do not have any US currency so those that have can sell at whatever price the market determines.  Same as black marketing in Burnham days.

scald face liar and disinformation agent

even when stripped naked you can’t help yourself

is this the ‘male’ or the ‘female’ slice of your handle posting . . . hmmm?

My information is 100% correct.  And I will take it one step further to inform you that the government is buying currency from commercial banks since there is no foreign exchange in the central bank.  Those individuals who are paying $235 at the cambio are people who need currency to travel. 

uh huh ms 100%

please point to exactly which part(s) of Winston Jordan and BOG Governor Gobin Ganga’s statements you are rebutting, thanks

oh wait . . . you used to be ms 110% in a former life before i pounded a stake into your graveyard vampire chest not so long ago, remember?

smfh

I was reading a US state department report dated 7/2019 on Guyana Forex issues and they noted the length of time Banks are taking to fulfill requests from businesses.  This signifies a strain on the supply which will drive up prices. 

Baseman posted:

ronan posted:

1. Bibi Haniffa posted:

ronan posted:

• Bibi Haniffa posted:

ronan posted:

bibi checking in with the emerergency huddle of the bald head tief and he associates fuh come up with better talking points

baseman and labba please come in

Why is Jordan launching an investigation into the cambios?  He knows fully well that the banks do not have any US currency so those that have can sell at whatever price the market determines.  Same as black marketing in Burnham days.

scald face liar and disinformation agent

even when stripped naked you can’t help yourself

is this the ‘male’ or the ‘female’ slice of your handle posting . . . hmmm?

My information is 100% correct.  And I will take it one step further to inform you that the government is buying currency from commercial banks since there is no foreign exchange in the central bank.  Those individuals who are paying $235 at the cambio are people who need currency to travel. 

uh huh ms 100%

please point to exactly which part(s) of Winston Jordan and BOG Governor Gobin Ganga’s statements you are rebutting, thanks

oh wait . . . you used to be ms 110% in a former life before i pounded a stake into your graveyard vampire chest not so long ago, remember?

smfh

I was reading a US state department report dated 7/2019 on Guyana Forex issues and they noted the length of time Banks are taking to fulfill requests from businesses.  This signifies a strain on the supply which will drive up prices. 

what was their takeaway?

yours is of little interest since you can’t help but trade in bullsh!t

Neither Jordan nor Ganga are totally upfront with what is causing the increase in the exchange rate.  

The bank of Guyana has been trying to manage the exchange rate but has failed miserably. In May of this year, you could have exchanged $US for around $218-$220 G the money changers on the street who are not licensed usually give something more. What they sell the US at depends on the demand for us$ that they have. The licensed cambios are tightly controlled by the BoG, with all purchases and sales recorded and individuals having to provide ID for documentation.

The problem resides with the non-registered money changers. The extent of their activities is not really understood by the finance ministry and the BoG. They are the ones driving the exchange rate and the government and BoG has allowed this to happen unchecked. Today, they were offering $232 guyana for the US on America street. People getting a small piece from abroad and others try to capitalize on the better rate offered them. Now they are blaming the licensed cambios which are only allowed a spread of $3guyana.  The BoG and the government is now trying to throw blame away from the real culprits.

the government also really need to investigate the origin of the demand. They claimed that they are making a big dent in the illicit drug trade, so the increased demand should not be from there. Many who really live here know who the new players are in the demand side. I find it difficult that the BoG and the Minister does not know.

ronan posted:

Dave posted:

Baseman posted:

ronan posted:

bibi checking in with the emerergency huddle of the bald head tief and he associates fuh come up with better talking points

baseman and labba please come in

From what I gather, Bibi is not wrong. Even he referred to the 235 rate but invoked illegality.  If there is a $2,000 limit at the banks then people go to the street.  If supplies are tight, it could spike to 235!

She is correct to say BOG controls the rate because their limitations at the bank determine the selling rate at Cambios. 

The Chinese are the major contributor to high demand of US dollars. 

They sell their goods cheaper than a local importer, although we buy from the same manufacturer in China ( Kaieteur News did a investigation on this which suddenly went into the tubes) . we believe the Chinese Embassy is a major player in this and  facilitate the US currencies to ship out to China. 

This government and PPP.. both kissing the Chinese Arss . 

you seem confused

lessee here . . . according to you, there is currency manipulation by Chinese 'traders' and, according to you, the BOG (quite responsibly) taking action to stop it

comes now baseman (following you) talking much upsideddown, ignar tripe about depreciation of the Guyana dollar

what is the reason for y'all cussdown of the Gov't again . . . hmmm?

bibi leading klown leading klown

smfh

The man Dave baxing up yuh rass with this foolishness you peddling from yuh papa Jordan.

Zed posted:

Neither Jordan nor Ganga are totally upfront with what is causing the increase in the exchange rate.  

The bank of Guyana has been trying to manage the exchange rate but has failed miserably. In May of this year, you could have exchanged $US for around $218-$220 G the money changers on the street who are not licensed usually give something more. What they sell the US at depends on the demand for us$ that they have. The licensed cambios are tightly controlled by the BoG, with all purchases and sales recorded and individuals having to provide ID for documentation.

The problem resides with the non-registered money changers. The extent of their activities is not really understood by the finance ministry and the BoG. They are the ones driving the exchange rate and the government and BoG has allowed this to happen unchecked. Today, they were offering $232 guyana for the US on America street. People getting a small piece from abroad and others try to capitalize on the better rate offered them. Now they are blaming the licensed cambios which are only allowed a spread of $3guyana.  The BoG and the government is now trying to throw blame away from the real culprits.

the government also really need to investigate the origin of the demand. They claimed that they are making a big dent in the illicit drug trade, so the increased demand should not be from there. Many who really live here know who the new players are in the demand side. I find it difficult that the BoG and the Minister does not know.

Maybe people are in a hurry to ship their money out and that is driving the price up. That as well as the Coalition destroying the economy in just 4 short years.

Zed posted:

Neither Jordan nor Ganga are totally upfront with what is causing the increase in the exchange rate.  

The bank of Guyana has been trying to manage the exchange rate but has failed miserably. In May of this year, you could have exchanged $US for around $218-$220 G the money changers on the street who are not licensed usually give something more. What they sell the US at depends on the demand for us$ that they have. The licensed cambios are tightly controlled by the BoG, with all purchases and sales recorded and individuals having to provide ID for documentation.

The problem resides with the non-registered money changers. The extent of their activities is not really understood by the finance ministry and the BoG. They are the ones driving the exchange rate and the government and BoG has allowed this to happen unchecked. Today, they were offering $232 guyana for the US on America street. People getting a small piece from abroad and others try to capitalize on the better rate offered them. Now they are blaming the licensed cambios which are only allowed a spread of $3guyana.  The BoG and the government is now trying to throw blame away from the real culprits.

the government also really need to investigate the origin of the demand. They claimed that they are making a big dent in the illicit drug trade, so the increased demand should not be from there. Many who really live here know who the new players are in the demand side. I find it difficult that the BoG and the Minister does not know.

Majority of the non registered money changers work for the register Cambios. 

I cannot believe these guys Ronan and Django got no shame, Django especially.  He lived through the period of street rate and official rates.  Ronan is to be forgiven and not taken seriously. He left Guyana in 1973 at 13 and grew up in a kushy life on Guyana taxpayers’ money.  He have no concept of real life in Guyana.  He talks from 3rd hand information!

What we are witnessing is a repeat of what preceded the collapse last time around!

They are hiding behind every shadow but what we are seeing are the fruits of fiscal mismanagement!  Oil cannot come fast enough to plug the sinking boat!

And don’t take that coolie-hating  Putagee Cain seriously. He left Guyana in the 70s with all that D’Aiguar money.  He don’t give one shit about Guyana. 

Baseman posted:

And don’t take that coolie-hating  Putagee Cain seriously. He left Guyana in the 70s with all that D’Aiguar money.  He don’t give one shit about Guyana. 

I came from a poor family, never had a dam thing to do with politics nor D'aiguar money, whatever the fk that supposed to mean. I also have family back there and care what happens in the country. It is obvious you know fkall about other posters and make up shit when cornered. Don,t forget we all know about you due to you airing your dirty laundry in public even though you were advised against it.

cain posted:

Baseman posted:

And don’t take that coolie-hating  Putagee Cain seriously. He left Guyana in the 70s with all that D’Aiguar money.  He don’t give one shit about Guyana. 

I came from a poor family, never had a dam thing to do with politics nor D'aiguar money, whatever the fk that supposed to mean. I also have family back there and care what happens in the country. It is obvious you know fkall about other posters and make up shit when cornered. Don,t forget we all know about you due to you airing your dirty laundry in public even though you were advised against it.

Bai Cain, yuh familee lied tuh yuh. There were no poor putagee in Guyana. 

Haul your ass Kaz. How about there is no poverty in Guyana, everyone is a millionaire?

cain posted:

Haul your ass Kaz. How about there is no poverty in Guyana, everyone is a millionaire?

Only when PPP running things bai. Only when PPP running things. 

At G$235. to US$1., a million is just over four grand. 

cain posted:

Baseman posted:

And don’t take that coolie-hating  Putagee Cain seriously. He left Guyana in the 70s with all that D’Aiguar money.  He don’t give one shit about Guyana. 

I came from a poor family, never had a dam thing to do with politics nor D'aiguar money, whatever the fk that supposed to mean. I also have family back there and care what happens in the country. It is obvious you know fkall about other posters and make up shit when cornered. Don,t forget we all know about you due to you airing your dirty laundry in public even though you were advised against it.

I gat nuff family in  Guyana bai, nuff.  I just talk to one. The street rate is in the 230s.  

The D’Aguiar thing was a joke.  I know not all putagee related.  But You hate Indians!  And more so you hate coolies. 

I don't think the Cain man hates Indians. I thing he just doesn't like the current PPP.

Kaz Doan worry with senor butthead, he loves to stir up shit, he lucky I not around his hood he wouldn't talk like dat, I would already manners he rass. The banna does say one thing but mean another..I din say what I said. He rass suffering  from Trumpaturkeybattymouth.

Dave posted:

Zed posted:

Neither Jordan nor Ganga are totally upfront with what is causing the increase in the exchange rate.  

The bank of Guyana has been trying to manage the exchange rate but has failed miserably. In May of this year, you could have exchanged $US for around $218-$220 G the money changers on the street who are not licensed usually give something more. What they sell the US at depends on the demand for us$ that they have. The licensed cambios are tightly controlled by the BoG, with all purchases and sales recorded and individuals having to provide ID for documentation.

The problem resides with the non-registered money changers. The extent of their activities is not really understood by the finance ministry and the BoG. They are the ones driving the exchange rate and the government and BoG has allowed this to happen unchecked. Today, they were offering $232 guyana for the US on America street. People getting a small piece from abroad and others try to capitalize on the better rate offered them. Now they are blaming the licensed cambios which are only allowed a spread of $3guyana.  The BoG and the government is now trying to throw blame away from the real culprits.

the government also really need to investigate the origin of the demand. They claimed that they are making a big dent in the illicit drug trade, so the increased demand should not be from there. Many who really live here know who the new players are in the demand side. I find it difficult that the BoG and the Minister does not know.

e contactMajority of the non registered money changers work for the register ans and tge Chinese owned  stores 

This is incorrect. Though at times, there is some contact between them. Also. Many stores, especially those that deal its the Cubans and the Chinese owned stores buy US$ on the side. 

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Incorrect!  You LIE like a rug!!

Zed posted:

Dave posted:

Zed posted:

Neither Jordan nor Ganga are totally upfront with what is causing the increase in the exchange rate.  

The bank of Guyana has been trying to manage the exchange rate but has failed miserably. In May of this year, you could have exchanged $US for around $218-$220 G the money changers on the street who are not licensed usually give something more. What they sell the US at depends on the demand for us$ that they have. The licensed cambios are tightly controlled by the BoG, with all purchases and sales recorded and individuals having to provide ID for documentation.

The problem resides with the non-registered money changers. The extent of their activities is not really understood by the finance ministry and the BoG. They are the ones driving the exchange rate and the government and BoG has allowed this to happen unchecked. Today, they were offering $232 guyana for the US on America street. People getting a small piece from abroad and others try to capitalize on the better rate offered them. Now they are blaming the licensed cambios which are only allowed a spread of $3guyana.  The BoG and the government is now trying to throw blame away from the real culprits.

the government also really need to investigate the origin of the demand. They claimed that they are making a big dent in the illicit drug trade, so the increased demand should not be from there. Many who really live here know who the new players are in the demand side. I find it difficult that the BoG and the Minister does not know.

e contactMajority of the non registered money changers work for the register ans and tge Chinese owned  stores 

This is incorrect. Though at times, there is some contact between them. Also. Many stores, especially those that deal its the Cubans and the Chinese owned stores buy US$ on the side. 

Zed I am not denying what you are saying, but I am 110 percent sure of what I am saying... and will tell you how the system wok. 

The Cambios go by the rate publish on the board so as to protect their license. Their scout hanging around outside  their store, will bargain with potential seller and take you inside ... telling you it safe ( of course) and offering more, when In turn they make more money than the stipulated $3.00 the government instructed. 

You the buyer have no clue they are connected, but you may know now. 

What you should do is hang around for half a day outside a Cambio  and watch the operation or pretend you wanna buy.

You should go into a bank and tell them you need $3000 or more US to buy and tell us what happen. 

I don’t get info from other sources. We happen to be a large importer in Guyana .. I am speaking from experience. 

The same experience I share a while ago when you question it’s not possible for the Indian custom officer wife to pick up the bribe... remember that .. think think. 

Baseman posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Incorrect!  You LIE like a rug!!

Of course he is.. he knows Fck all. He would have speak differently if this situation happens under PPP government. 

Baseman posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Incorrect!

that's a non sequitur

please try again

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

Dave, I do know know it actually work. An anecdote. A couple of IMF officials were visiting Guyana and I was speaking to them. When I explained how the system actually worked and even took them to meet with some legal Cambio dealers I personally know and some of the guys on America Street, they were amazed and indicated that the EXTENT of the issue was beyond anything they were led to believe. Yes, I know how the system actually works. 

I agree there are times that a Cambio gives special rates for preferred customers and when the guys in the street do not have a demand for the money, they take the customer to a Cambio and get a cut of the spread, but this is not widespread. Most of the people outside of a Cambio are either security or people informing people of tge rates or of the Cambio and inviting customers to enter.

Zed posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

So you have provided some useful information. 

Glad we established the cost of running a Cambio and how the $3.00 profit can’t sustain the dealers. 

That same America street have 3 registered Cambio dealer. 

Zed posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

sir, most here have no idea what they are talking about when braying about forex transactions between BOG and the commercial banks

the mere fact that such large spreads actually co-exist on the street speaks to dislocations in the market that have little to do with a systemic shortage of foreign exchange

Guyana has a tiny, unbuffered, exchange system that is easily manipulated

ole fashioned arbitrage [and politics?] banna

US$ is available at commercial banks . . . and NOT @ 235, 230 or any of that shyte

consequently, common sense would tell you that any "shortage" is artificial and likely tied to illegal activites pointed to by Jordan/Ganga

how exactly is the Minister/BOG being "duplicitous" again?

you are all over the place on this

I am not interested in getting into a long argument over this issue because intelligent conversation is difficult to do on social media. e.g. an economist will argue that ”shortages” is a market result and not artificial - whatever the heck you mean by artificial in this context.

Also, I am travelling today to the Essequibo Coast today so would be unavailable.

Zed posted:

I am not interested in getting into a long argument over this issue because intelligent conversation is difficult to do on social media. e.g. an economist will argue that ”shortages” is a market result and not artificial - whatever the heck you mean by artificial in this context.

Also, I am travelling today to the Essequibo Coast today so would be unavailable.

Enjoy your travel to Essequibo Zed.

That same dummy believe 32 is greater than 33, so what will he know about supply and demand . 

cain posted:

Kaz Doan worry with senor butthead, he loves to stir up shit, he lucky I not around his hood he wouldn't talk like dat, I would already manners he rass. The banna does say one thing but mean another..I din say what I said. He rass suffering  from Trumpaturkeybattymouth.

Maybe de banna think he invincible in dat purple suit. 

Zed posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

Don't waste time with fools. They are allergic to truth and facts. Remember it was also Jordan who claimed that there was no signing bonus and he continued to repeat that lie until indisputable evidence was produced that proved him to be a liar.

Foreign exchange earnings from gold exports not coming back here

October 11 2019

Source

Dear Editor,

The Demerara Waves article dated October 9 titled, “Bank of Guyana probe uncovering reasons for US notes shortage at cambios” covered a lot of territory.  In many respects, it has been fiercely contested territory.

The focus and thrust of the Demerara Waves item were on the role of nonbank cambios in the ongoing foreign currency shortage on the street.  It looks confirming of suspicions and damning in implications.  In real terms, the calculating, unscru-pulous street governs; the commercial banks are either followers or passive or negligible in dictating what should prevail as to rates. 

But my emphasis is not on nonbank cambios.  Rather, I point to this extract in the news item: “the Finance Ministry and the Bank of Guyana had observed that licensed gold exporters had not been injecting their foreign earning back into the local economy.”  That was supposedly a year ago.  Truth be told, matters may be the same as before, or not much different from what they were in 2018.

In the clearest possible wording, I seek to expand what “licensed gold exporters had not been injecting” means. This means that they have NOT been repatriating the gold monies; NOT been bringing back some of the foreign exchange returns from gold exports back to the Central Bank. Some of the gold proceeds may mean any substantial percentage and going to the heights.  The foreign exchange money may be coming back to Guyana, but the Bank of Guyana is saying that it is not coming to us; at least, not a year ago.  Now the onus is on all of the responsible state financial institutions to track and ascertain if the monies are coming back, then how, and to where. And if not to the Bank of Guyana, why not? And if elsewhere, why?

I submit this because the official assertion was made more than once inside the Guyana Gold Board (GGB), and at other forums, that the foreign exchange returns were not coming back to Guyana in any recognizable form or substance.  This was strenuously objected to on every occasion. This contention was shared with other involved government agencies.

Now, we are all human.  Mistakes are known to be made; incompetence flourishes; and memories fade.  In the rush of commerce, things and times get tangled.  I can make allowance for all that; but I cannot do so when that takes bread out of the reach of the poor.  That includes me. I cannot pretend at ignorance, or offer the mitigation of understanding and compassion, when the handiwork of the conscientious is undermined and negated. That extends way beyond any single individual.

For when there is shortage and spikes in rates, then there is a corresponding strike at the cost of things once at the financial fingertip.  Shortages and spikes in rates bring squeeze and pain.  Perhaps, it is intended.  To play the money markets may be permissible here, but only if done within the bounds allowed.  I think I read of a maximum spread of $3 between the bid and offer.  Somebody must mind that store. People can play at politics also; they are entitled to that and are good at it here. Well, so they believe; and that nobody can detect the farce of the games being played, and the toying with truth to rearrange reality; economic reality.  Politicians offer the solace of silence.  Economists bury head in sand. This is reality.

To give an idea of what is involved here, I tender the following for consideration.  Over 500,000 Troy ounces of gold was exported in 2018.  Using an average price-which is generous-of US$1200 translates to a lot of American dollars.  Well, it should be to the vicinity of over half a billion (repeat: billion) of In God we Trust.  It seems that Guyana is still operating on the old ‘trust’ system, which makes for so many bad friends.  Bad friends are always short: short of foreign currency supply, short of appreciation, short of reciprocation for the considerations extended.

I think that now that this in the public domain, it is imperative that all state authorities go to work to determine where things stand.  When the foreign exchange supply is withheld, tampered with, toyed with, then a line must be drawn, many of them. Because when those sabotaging actions take place, then the peoples of this country are held to ransom and made to feel pain.

Yours faithfully,

GHK Lall

ronan posted:

Zed posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

sir, most here have no idea what they are talking about when braying about forex transactions between BOG and the commercial banks

the mere fact that such large spreads actually co-exist on the street speaks to dislocations in the market that have little to do with a systemic shortage of foreign exchange

Guyana has a tiny, unbuffered, exchange system that is easily manipulated

ole fashioned arbitrage [and politics?] banna

US$ is available at commercial banks . . . and NOT @ 235, 230 or any of that shyte

consequently, common sense would tell you that any "shortage" is artificial and likely tied to illegal activites pointed to by Jordan/Ganga

how exactly is the Minister/BOG being "duplicitous" again?

you are all over the place on this

This vomit soak shakebatty moron here wants to sell his PNC adjenda - street dealers are 'into artificial and illegal activites' when they are exchanging for 230 -233 : 1U$. Did you and you PNC cohorts plan to take this to CCJ to figure that 233 is greater than 216?.....Guyanese don't need PNC to figure where to get the most for their U$ dollars...  

sachin_05 posted:

ronan posted:

Zed posted:

ronan posted:

aerated nonsense about 'street' 235/1

i know people in GT who bought on the street @215 when cambio was selling @218

that was 3 days ago

Look, my nephew came in yesterday for a week’s holiday, went to a Cambio on regent street and was offered $216. He left, went to America Street and got $2.30. I am here and this is what actually occurred yesterday. It does not matter to me who you choose to believe from over there.

look, it is a segmented demand and supply market. However. In my many years here. I cannot ever hearing that there is that much of a difference, nor does it make economic  sense because the cambios pay a high licence fees, income tax, wages, etc. 

As I mentioned, there are many layers in the demand and supply of currency - for the supply, include but not limited to  the banks, the official cambios, the business that accept US dollars for purchases, the businesses that buy US dollars as an extra part of their retail operation, the money changers at the steeet corners and on America Street and in other parts of Guyana, and the ordinary citizen.

Both Ganga and the government are being duplicitous when they say that there is no increase or reason for increase or shortage in the official market.

sir, most here have no idea what they are talking about when braying about forex transactions between BOG and the commercial banks

the mere fact that such large spreads actually co-exist on the street speaks to dislocations in the market that have little to do with a systemic shortage of foreign exchange

Guyana has a tiny, unbuffered, exchange system that is easily manipulated

ole fashioned arbitrage [and politics?] banna

US$ is available at commercial banks . . . and NOT @ 235, 230 or any of that shyte

consequently, common sense would tell you that any "shortage" is artificial and likely tied to illegal activites pointed to by Jordan/Ganga

how exactly is the Minister/BOG being "duplicitous" again?

you are all over the place on this

This vomit soak shakebatty moron here wants to sell his PNC adjenda - street dealers are 'into artificial and illegal activites' when they are exchanging for 230 -233 : 1U$. Did you and you PNC cohorts plan to take this to CCJ to figure that 233 is greater than 216?.....Guyanese don't need PNC to figure where to get the most for their U$ dollars...  

He’s a sack of bull shit and artificial intelligence. I spoke to my relatives in Guyana last night.  They travel to the USA often.  They confirmed they are now paying the 230s.  

The banks are offering a better rate but you sometimes have to wait.  Guyanese visitors and remittance recipients are opting to change their money on the street as they are getting a better exchange. 

This is why I said they are headed back to the burnham days where the official bank rate and street rate are vastly divergent. 

This is a prelude to another currency collapse!  Inflation is already hitting home.

Bse, the result of DUMB, ILLEGAL PRICKS!!!!!!!!!! Chase them friggin out!!!!!!

There was this gas station selling gas for 99 cents per gallon. They had a big sign showing this. Only trouble was there was no gas available. All the dispensers were removed and the entire ground was dug up as they are replacing the underground tanks.

That is how it is at BOG. 

Baseman posted:

I spoke to my relatives in Guyana last night.  They travel to the USA often.  They confirmed they are now paying the 230s [SELL $US].  

The banks are offering a better rate [SELL $US] but you sometimes have to wait.  Guyanese visitors and remittance recipients are opting to change their money on the street as they are getting a better exchange[BUY $US/irrelevant for our purposes here].

er ahem, señor Conflation Confusion Elide

please tell us what the “better [SELL $US] rate” being offered by the “banks” is

thanks

Hey hey hey...which rate ayoo talkin bout? How panty pictcha end up haay? 

Labba posted:

Hey hey hey...which rate ayoo talkin bout? How panty pictcha end up haay? 

clueless Dave got excited when he thought baseman hit a boundary

suh he drap panty

Dave posted:

 https://newsroom.gy/2019/10/11...-note-bog-tells-psc/

 

The Private Sector Commission (PSC) says it was advised by the Governor of the Bank of Guyana Dr Gobin Ganga that the rising exchange rate of the United States Dollar is “mostly due to the unavailability of U.S dollar notes.”

A press release from the PSC on Friday noted that the Commission met with Dr Ganga and expressed concerns about the issue and the “potential negativeimpact on the business community and the economy.”

“The meeting was a constructive engagement. The PSC was briefed on the situation and the mitigating measures being taken by the Bank of Guyana.”

The PSC said that the rising exchange rate is not due to access to US currency to facilitate transactions such as payment for USD debit/credit cards and wire transfers.

The Bank of Guyana assured the PSC that it is pursuing prudent measures to ensure exchange rate stability.

now . . . i suggest you read the scampish PSC release s_l_o_w_l_y and  c_a_r_e_f_u_l_l_y

arite?

PSC tekkin blows for their politicking . . . “rising exchange rate” nonsense

is time for me to rake back and watch the PPP sheeple scatter while squeezing their bt hard to hold back the diarrheal shittings 

smfh

Dave posted:

 https://newsroom.gy/2019/10/11...-note-bog-tells-psc/

 

The Private Sector Commission (PSC) says it was advised by the Governor of the Bank of Guyana Dr Gobin Ganga that the rising exchange rate of the United States Dollar is “mostly due to the unavailability of U.S dollar notes.”

A press release from the PSC on Friday noted that the Commission met with Dr Ganga and expressed concerns about the issue and the “potential negative impact on the business community and the economy.”

“The meeting was a constructive engagement. The PSC was briefed on the situation and the mitigating measures being taken by the Bank of Guyana.”

The PSC said that the rising exchange rate is not due to access to US currency to facilitate transactions such as payment for USD debit/credit cards and wire transfers.

The Bank of Guyana assured the PSC that it is pursuing prudent measures to ensure exchange rate stability.

Bai, is simple supply and demand. The BOG isn’t able to borrow any more forex because the international funding agencies placed a lid on funding as a consequence to the Granger led Coalition dumping the country into a constitutional crisis.