Dynamic backpedals from $250 exchange rate on airline tickets

Mar 26, 2017 News

Amidst disclosures by Central Bank that it will investigate the legality of one airline charging a $250 rate of exchange for the US dollar, the company yesterday seemed to have backpedalled from its earlier position.

Dynamic Airways has reversed a decision to charge a $250 rate on US for tickets, locally handlers, Roraima Airways announced yesterday.

In a statement yesterday, Roraima Airways, which provides local handling services for US-owned Dynamic Airways, advised that it is accepting payment in Guyana dollars for airline tickets and related services at the exchange rate applicable on the day of the transaction, and mutually agreed upon.
“This includes tickets bought for travel on Dynamic International Airways. Roraima Airways also wishes to advise that travel agents remitting payments for tickets sold on Dynamic are encouraged to remit these payments in United States dollars since these agents might have access to United States dollars at competitive exchange rates.”
The statement from Roraima Airways would come after apprehension by businesses last week over what appears to be a rise in the US rates.
Dynamic Airways reportedly advised travel agents on Thursday that the new exchange rate would be $250 to the US dollar.
The rest of the airlines were charging between $209 and $215 to the US dollar.
On Friday, Governor of Central Bank, Dr. Gobind Ganga, during a press conference to express concerns over the US dollar rate, said that he will be investigating the reports of the rate hike. He also believed that the instructions to travel agents may be illegal.
Roraima, in its statement yesterday, said it will accept remittances from travel agents in Guyana dollars at a mutually agreed exchange rate to the US dollar.
“Roraima Airways has noted the efforts of the Government of Guyana to stabilize the exchange rate and will monitor the rate over the coming weeks with a view to determining whether the rate needs to be adjusted. We have been in discussions with Dynamic and the airline is committed to maintaining its competitive airfares of US$579 which are currently the lowest offered on the Guyana/New York route.”
The airline said that it is also committed to working with the rates available locally, Roraima’s chief executive officer, Capt. Gerry Gouveia explained.
“Gouveia also pointed out that Dynamic remains fully committed to its investment in, and service to Guyana. It will continue to contribute to various social development efforts in keeping with its good corporate citizenship.”

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