Editorial

DROP IN USD RATES SHOULD BE REAL NOT ARTIFICIAL

It would be appreciated if the rate of the USD continue going down as being witnessed now to enable prices of basic commodities to go down altogether. Yesterday the USD was reported to be 450 SSP a dollar from 620SSP just few days ago. This is a positive indicator that that some measures instituted by the Central Bank were taking effects in the market. This should not be an artificial reduction, but should be real so that the common-man can be able to fend for their dependents. Mopping or not the exercise is showing signs that would cushion the prolonged hike of basic commodities and which had made it impossible for the citizens to meet their basic needs. The eyesore that need to be dealt with are the third party players who are keen to create artificial situation only to have the green-buck rates shoot up at their convenience. They are the black-market kings who defy all odds even those outlined and put by the government for execution to control the money market. The first mopping resulted in the collection of over ten billion SSP. This time around, the national coffer should make sure that the USD goes down to minimal never to come up again through some games being played by interested parties. The Central Bank should also be able to control and give commercial banks and other financial institution affordable rates instead of leaving it open for abuse. In proper and growing economy, Central Bank control the national finance but cannot be used like commercial banks in withdrawing money over the counter. If this works out then there would be tremendous change in the market within the next few weeks something the public have been longing. Let the drop in the USD be real instead of being a creation or artificial.

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