Yes. Get best rate for the Dollar available. Subsidise "necessary imports" by eliminating/reducing their import dutyhttps://twitter.com/markessien/status/701511298752847872 …
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@OoTheNigerian No...a free floating naira will be Zimbabwe'sque. Too many traders in Nigeria. Rather, just sell at 400. Adjust constantly.
@markessien so when you devalue to 400 and black market takes it to 600 (cos they MUST hedge) what have you really done?
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@OoTheNigerian It won't do that. There is a 'natural value' for currencies. To push past that, you need to be using 'force' -
@markessien demand will keep increasing. With the oil price and without FDI where will you get the dollar to sell if everyone holds? - 3 more replies
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@markessien It's too late now. People will keep "waiting to see" and that will keep it going until it gets to ridiculous levels like bitcoinThanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian The traders in Nigeria don't have that amount of capital to 'force' against the entire economyThanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian@markessien@4eyedmonk based on PPPRA template, PMS will sell for 155 at a FX ratio of 40p:1Thanks. Twitter will use this to make your timeline better. UndoUndo
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