There is no economy in the world that I know of that operates such a disjointed system. The unofficial and official markets have a differential of almost N250 per dollar. Why is diesel the costliest fuel in the country? It is because the dollar used in importing it is sourced through the unofficial market. “Importation into the country is no longer attractive because of the forex problem. “That curve is a better predictor of whether it is a worthwhile venture to deploy capital or not, considering that the I&E window at the NAFEX markets is non-functional as a result of the lack of a yield curve from the lack of liquidity of market makers who due to an absence of forward guidance, are unable to calculate their risk exposure,” he said.Īn Economist, Samuel Olaoluwa said the recent scenario is a worry saying, “how can an economy as big as Nigeria is fumbling with its foreign exchange regime? It is very clear now that the multiple exchange rate is meant to keep the ‘black market’ afloat. He maintained that one of the most important factors that institutional investors pay attention to in making decisions on whether to bring in long-term patient capital into an economy is not only the market structure and all the metrics that come with the total addressable market but the yield curve that shows them the ratio of the external risk of devaluation and inflation to their internal rate of return. “Emirate Airlines announcing that from Sept 1, 2022, it will ground operations totally from Nigeria following its inability to repatriate up to $85 million at the official rate, and the inability of airlines to repatriate up to $450m in ticket sales to the head treasury operations, is a very clear signal that the Central Bank is rationing its foreign exchange, the airlines have refused to go to the parallel market that has a N240 difference from the official market, and that will lead to an erosion of value by up to 58%.” His explanation: “Nigeria today has six different rates, with the parallel market being the most reliable as most buyers are only able to find liquidity at the black-market window.”
Float for youtube windows#
He stated that the multiple forex windows caused the face-off between foreign airlines and the government. He further held that one of the most common misconceptions some people in the Nigerian government have about programmes designed to attract foreign direct investment, both speculative and non-speculative, is the idea that offering tax breaks and duty waivers can substitute for the lack of a forward guidance from the Central Bank on the exchange rate. He argued that the implementation of multiple rate windows by the Central Bank of Nigeria (CBN) has deepened the confusion within the market and empowered the unofficial market window to thrive. I created Assigned Pooling to provide a new way to embrace color pooling by letting the color changes have control of the texture pattern.He said it has become imperative to adopt a floating exchange model that can converge all six different rates in the market. Use these instructions as a basic guide, and let your creativity flow with the color changes in your variegated skein. Gauge: 24 STS x 32 rows = 4” x 4” in Stockinette ST.Įvery assigned pooling project will be as unique as the yarn you choose. Yarn three skeins of Barker Wool BFL Fingering in the colorway Blossom.įinished Measurements 70” wide x 45” deep after blocking. Imagine little flowers floating on a river or in the wind. In this case, simple Stockinette Stitch is assigned to the main color to create a backdrop for the cluster stitch assigned to the accent color.
Float for youtube series#
Float is a simple right triangle shawl and the first in a series of projects using the concept of Assigned Pooling.Īssigned Pooling occurs when a change in stitch and texture is assigned to changes in color within a skein of variegated yarn.
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