Quote from: Bonny070 on March 28, 2024, 09:09:24 PM

I'm surprised when dollars loses value and the cost of things still remains high. now dollars have dropped a little but still yet the cost of goods in the market still Sky rocket, I don't understand the reason why dollar drop and cost things are still high, some time I wonder if Nigerians are using dollar purchase in the local market. what makes me worried soo much is our local food,the seller keep telling me dollar have increased, now dollar has been slash down a little the cost of living still remains the same.what is happening to my people.

Price reduction doesn't just happen over night that's why things are still costly while the dollar rate has dropped. Make I put am for small pikin understanding so everybody fit comprehend. The dollar has fallen but e never stable, traders also know say the dollars go fit rise at anytime because the wey the dollar carry fall no be so e supposed fall. The dollar supposed fall when the economy of the nation is improving but this one wey happen na dictatorship way and in the nearest future the policy wey dem use hold the dollar down no go strong again so obviously the dollar go continue dey go up as e been dey go.

A trader that bought goods when dollars was at ₦1800 and now dollars dey ₦1200 you no go expect am to dey sell at the rate of ₦1200 because na at a lost him dey sell so and there's no guarantee say after him sell finish say dollars go stay stable for am to restock him goods. Dollars self fit go rise to ₦1500 or more. If dollar rise him dun lose in two ways and if he continues like that he'll run out of funds and also out of business.

Las las the price of goods go reduce as dollars stabilized but for the main time we go still dey experience the aftermath of the price of dollars being high and traders buying at that high rate because everybody's want profit in business and they're also looking at the future purchase of goods.