CBK to devalue currency.

[Micymas]

This perfectly sums up what I was trying to convey

However, CBK is fixated with the KES1 screen price and doesn’t allow commercial banks to buy dollars from exporters at rates above the official screen price which is currently around 116.

However, banks can sell dollars to importers at whatever level they like, which is currently between 122-123.

Hence, why would an exporter agree to sell dollars to a commercial bank at levels of 115-116 when they know importers are buying above 122. Thus, they will rightly hoard their dollars.

@Micymas

[MEDIA=facebook]261061365404/posts/10166861480690405[/MEDIA]

Dollar price is determined by simple supply and demand forces.

Our economic metrics are shit snd everyone knows it

Everyone knows 117 does not reflect the true price

The real price is 130+

No one is selling dollars for 117

There’s no shortage of dollars

The dollar is the fucken global reserve currency specifically designed not to run out

In summary there’s no shortage. Everyone just thinks CBK are clowns for setting the rate as 117.

[Micymas]

@sitaki

but how will you sell your buroti, or whatever you are growing on it if money will be useless karatasi

Land is aan immoble asset and very difficult to liuidate. Watu huona ma advertisement za tuploti kwa tv wanafikiria ni rahisi kuuza Tuploti. They don’t stop to consider how desperate you have to be to resort to hawking land on tv

[Micymas]

@Nixer west

We are struggling to pay dollars for fuel imports if things don’t change shortage will cripple in. Those idiots at EPPRA are working fuel prices at 116 yet banks are selling the dollars at 125 to 129.

Last week they somehow admitted to it when they suddenly hiked fuel prices by 9 shillings, the largest increase ever

[Mzeiya_Flany]

@johnpombe

Correction: Uhuru refused to deal with IMF and the west and instead chose to dela with the Chinese. He even refused the 16% VAT in fuel and sacking of civil servants that the IMF was promoting.

At no point was VAT on fuel proposed at 16%. And all he’s done is push the retrenchments on to whoever is silly enough to become the 5th president of this sinking ship.

As for dealing with the Chinese, he went to them for commercial loans, misused that money for white elephant projects and when money ran out, ran to the IMF to beg for money to pay them back.

You’re not just a bad liar but a fucking imbecile as well.