S33: $1 to N1000, May or Mar
Last updated
Last updated
Good morning guys, let's take a look at a scenerio where a basic salary is N100k. for a digitally inclusive person. which means you have to buy data, enter transport and buy basic food stuffs. at the rate of N1000/$. the value of your 100k could just be 30k.
welcome to another series of breakfast with blockchain, series 33; this platform is the vantage point for cryptocurrency & blockchain technology, we come together every saturday to discuss, share experience and teach ourselves about trending topics & ideas, investment decision making, portfolio structure and any interesting thing that happens in the digital space.
so how did we get here, from floating exchange rate to continued devaluation of naira on a daily! is it that the strategy of floating dollar rate is wrong?
the IEFX or IE-window is a supposed to have the same exchange rate as the BDC, last week, when the market closed at 790/$, the BDC closed at 840/$. there is disparity of about 50/$.
what is the purchasing power of naira now? it appears things will get tougher, alot of implementation on going, spiking the price of commodity to an ATH,
PMS is going to 700/litre -
more recent update is increase in tuition fees to the tune of 122% for govt. secondary schools
Tax income in the past 6 month is N5.5trn
there are implementation, there will be enforcement.
stack up dollars, sell higher.
uncertainties, because it is filled with uncertainty, you need to prepare ahead! one way is to build a portfolio, regardless of the level of hardship, never ever forget to remove something from what you make in the hope of gaining more of it in the future.
we sincerely can't say how long and how difficult things will get!.
Imagine, what is the value of your income and the buying power? what is an average expenditure
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