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  7. TT$ hits new low against US$ *

TT$ hits new low against US$ *

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05 Mar 2016 01:19 #295005 by chairman
A depreciated Trinidad and Tobago dollar makes it more expensive to purchase United States currency to import foreign commodities and “this will do more harm than good, especially in the short and medium term”, The University of the West Indies financial economics lecturer Vaalmikki Arjoon has said.

The TT dollar (TTD) hit a new low against the US dollar yesterday at three of the country's four largest retail banks.

At Republic Bank Ltd (RBL), RBC Royal Bank and First Citizens, greenbacks sold for $6.5948 each, breaking the February-set record high of $6.5190 per US dollar on average, according to Central Bank of Trinidad and Tobago (CBTT) data.
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  • mapoui
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05 Mar 2016 05:55 #295007 by mapoui
this crap still going on in the west indies..the UWI turning what is an advantage into a disadvantage...

what does Trinidad make that can be sold in the USA ::confused::

this is a good opportunity to develop manufacturing to be sold into the USA market for value added dollars..that go back and invest in solidifying industries to compete period..even when the currency values change.

and the Titty dollar remains relatively strong vs the other west indian currencies so that we can do business with them on favourable terms..

I don't see why the TT dollar isnt developing Guyana and Jamaica using west indian labour and skills.

but then again west indian economists think like Arjoon... so there! ::LOL:: ::LOL:: ::LOL:: ::LOL:: ::LOL::

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