I have always said the pace of the appreciation on a float is based on how fast investment comes into the country. The faster investors bring money through the cbi’s capital account to invest in rebuilding, etc. The more pressure it creates causing the CBI to allow the currency to appreciate. So it could make a big move in a relatively short period of time? Of course…That is what the balassa -Samuelson effect is…the directive from the IMF to float the currency is the safest and best solution for all of us to see the currency go up in value because a RV of any significant amount is not possible…a float is the only reasonable solution as requested by the IMF in 2013 as part of the Article IV Consultation…I wouldn’t be in it if I believed in a LOP. But I do believe that anything other than a float is unrealistic at this point.

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