I am writing to express my deep concern regarding a recent development with our local telecommunications company, TelEm Group of Companies. In recent times, the company has unilaterally increased the monetary conversion rate they apply to their services from 1.78 to 1.82. This decision has raised significant issues for many of the company's customers, including myself.
The concern arises from the fact that the Central Bank of Curaçao and St. Maarten has officially set the conversion rate at 1.79. This official rate serves as the benchmark for financial transactions in our region and is meant to ensure a fair and consistent approach to currency conversion. The telecommunications company's decision to use a rate of 1.82 is not only inconsistent with the official rate but also has financial implications for their customers.
This discrepancy in conversion rates can have a direct impact on customers’ bills and expenses, causing financial inconvenience and uncertainty. It is essential for service providers to adhere to official rates and regulations to maintain transparency and fairness for their customers.
I urge the TelEm Group of Companies to reevaluate their conversion rate and align it with the officially established rate. This would ensure that customers are not unfairly burdened with the additional cost incurred due to the discrepancy.
I also call upon the regulatory authorities to monitor and enforce adherence to the officially established conversion rate to protect the interests of consumers and maintain financial integrity within our community.
In a time when economic stability is paramount, it is crucial that service providers act ethically and responsibly. I hope that our local telecommunications company will address this issue promptly and make the necessary adjustments to ensure that their customers are treated fairly.
Thank you for your attention to this matter, and I hope that by bringing this issue to light, we can work together to resolve it for the benefit of our community.
Cedric R. Peterson