A week after BDL issued a circular aimed at “facilitating” money withdrawals, and with news of a 50% haircut spreading around, the US dollar today is trading over 3,000 LL in the black market.
This started two months ago when exchange dealers were allowed to set a fixed rate (for BUYING ONLY!) thereby creating a parallel market and a black market, and then a week ago when banks were also allowed to set a rate, alongside the official rate, the exchange currency offices rates and the black market exchange rate.
Why didn’t they set a new rate once and for all back in October or November? Why are they still screwing people over while protecting politicians and corrupt parties? Well I think we all know the answer to that, and once this COVID-19 pandemic is over, they’re gonna look back and wish they had listened to peaceful protests, because what’s coming will be ten times worse.
Add to that rumors of a haircut planned on accounts over $100K, which is making more and more people lose trust in this government, especially that we haven’t heard yet of one corruption case and could not bring back one penny of those presumed “stolen funds”.