MY fellow Guyanese I am writing this topic just to let you know how Western Union is regulating their exchange rate in Guyana. On Thursday February 25, 2010; I went to Western Union, Water Street to collect money. This transaction had been done from Canada on February 23, 2010. I have received G$66,460 at the exchange rate one Cad = $184.61 (Cad$360) where as international currency rate on the 23rd averaged one Cad = $195.800 & 25th average rate was one Cad = $193.025.
When I asked Western Union how they get their exchange rate they answered that is their own rate and they do not follow international currency rates. Now my question to any Guyanese authority is it legitimate to use their monopoly rate or they should follow international currency rate?