Replying to Avatar Tanksen

Few days ago, it was decided to let the Nigerian #Naira freely flow. No Central Bank intervention anymore. "Same rules" for all market participants. Value lost in the last days is now close to 80%.!!!

Many people used to "trade" before for parallel market rates, which used to be around 700NGN for 1 EUR, while the "official" rate was kept at around 520NGN for 1 EUR. Even for those being forced to use parallel market rates, which is typically "the small men", the devaluation is huge!

Avatar
JamPower 2y ago

Intriguing move! May it inspire others. The loss incurred stems from the fiat scam, I presume. Time will tell if it turns positive in the long run. Excited to witness its unfolding.

Reply to this note

Please Login to reply.

Discussion

No replies yet.