Friday, September 22, 2023

Zemene Kassie’s court proceeding

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Yesuf Ibrahim’s comment on current situations. Zemene Kassie’s court proceeding. Thursday and Friday were noted as notorious days for these transactions.

In my observation, the trading has swung between 85 to 95 birr per dollar. An individual who closely follows the case told Capital on Friday. He said that when illegal actors use the parallel market against the actual market it benefits them since they are involved in huge real estate exchanges in the town. Car and house prices have soared recently, with some rushing to buy while others rush to sell experts explained.

The crook sellers who inflate the market by sabotaging the dollar will gain over the genuine market sellers/ buyers who are out of the dollar exchange equation. one expert rightly stated. Demis Chanyalew, a prominent economic commentator and author, explained to Capital that for there to be stability in the market, the public ought to restrain themselves from buying cars or property for some time.

Experts backing Demis’ idea also highlight that those who sell properties naively thinking they will reap the benefits will also fall victim after a short while if they plan on re-investing back to the same market hoping for a dip that might not materialize. Pundits also showcase that the government’s effort at cracking the exchange whip has resulted in volatility and sudden drops in the market. Similarly, experts are strongly pushing the government to take even more stringent measures on the legal system regarding importing commodities.

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