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 Those trading holds only when people are speculating. Won't stay. Naira cannot float. Needs a counter-weight to traders
@markessien why do you accept 400 is the true value. would you sell all your dollars at the current rate?
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@OoTheNigerian That means that there is a natural 'stop' for our 'poorness' in the global stage. That's the true value of the Naira.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian We have not had serious inflation. So economy is not adjusting to match the lower rate, right? We have just become poorerThanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian If the naira drops below that, means that inflation will start to keep our poorness at a level balanced with our productionThanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian If you look for example at how long a person works to be able to afford a laptop, you can tell that 400 is already closeThanks. Twitter will use this to make your timeline better. UndoUndo
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@OoTheNigerian We cannot become infinitely poor, since we have SOME productivity, and we do create some type of global value -
@markessien@oothenigerian its a double whammy for Naija - oil revenue dependent and high import economy. Both those can be reversed. - 4 more replies
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@OoTheNigerian I think the true sum is more like 300, but I rather devalue to 400 to enable economy pull the currency up, not downThanks. Twitter will use this to make your timeline better. UndoUndo
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