Devaluing the currency with nothing to export will only lead to importing inflation since we import everything anyways.
While I fundamentally don’t disagree that a single market will eliminate round tripping and provide…
Alpha Delta
63

This is not borne out by the data. It’s easy enough to dispute if you look at what has happened in the past 1 year to the exchange rate and inflation (a 30% devaluation has been accompanied by less than 1% change in prices) but if you don’t believe me, here is an admission of the low pass-through by the CBN:

Full study/report here.

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