The CBI is still closely monitoring the parallel rate…the parallel rate is expected to decline sometime in early January and at least match the CBI “official” rate. At that time the CBI will revalue the “official” rate to much closer to if not at 1000. Then again drive the parallel market to match it. This may take some time but I am being told they are talking weeks and not months… my CBI contact tells me we are almost here now and with the opening and spending of the 2024 budget and currency swaps with other neighboring countries for trade, it should finally break the parallel market and end it.
