Although it does not seem like much, it will likely have a measurable impact here. Our dollars will go further in the country, which is sort of good for us. It also might help exports of things like tobacco and our beloved hot sauce, Nali, as those prices decrease for foreign buyers. But the prices of imported goods will soar further -- affecting the prices of things I love like fuel, cereal, and yogurt. Can I go 9 months without yogurt if it costs $9 per tub???
The economists have been begging for this type of devaluation for months, if not years. This is a small victory for them. Hopefully, the shortage of foreign exchange (forex) will ease slightly as a result. After more than 8 weeks of crisis level fuel shortages, I would like to fill my tank. I might even be willing to pay $200 to do it! Maybe.
