Dear Friends, Family, and Kind-hearted Strangers,
I never thought I would be writing these words, but life has taken an unexpected turn. I have been diagnosed with cancer, a word that has shaken my world and left me feeling vulnerable and overwhelmed.
Please help me on this journey to healing. Together, we can turn this challenge into a story of resilience, hope, and recovery.
Thank you from the bottom of my heart for being part of my fight.
With gratitude and hope,
Dear Friends, Family, and Kind-hearted Strangers,
I never thought I would be writing these words, but life has taken an unexpected turn. I have been diagnosed with cancer, a word that has shaken my world and left me feeling vulnerable and overwhelmed.
on the hardest days and remind me that I am not alone in this fight. Every donation, every share, and every kind word means more than I can express. Your generosity will help me access the care I need and give me a fighting chance to beat this disease.
SAVE A SOUL
Dear All,
Your repost yielded positive results, we are indeed grateful for the support all the way.
We are eager to get more assistance through your generous donations and repost.
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Thankiu
every founders dream gf:
- 5ft 4in
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- is an angel investor on the side
- her dad is a partner at a Tier 1 VC
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So, while a high exchange rate quickly reflects in market prices, a strengthening Naira takes longer to show its benefits on price tags. Patience and understanding the market flow are key. #NairaAppreciation#Dollar
This lag in price adjustment means that even though the Naira strengthens, consumers won't see price drops immediately. Merchants need to manage costs and profits, balancing old stock prices with new purchasing costs.
Now, let's flip the scenario. Say the rate drops from N1,800/$ to N900/$. Great news, right? But if the merchant bought stock at N1,800/$, they're likely to keep prices high until they sell off old stock.
To restock, the merchant must now consider the new exchange rate. Even if they sold the refrigerator at the original N100,000, to buy it again they'd have to pay nearly double in Naira. So, they hike the price to match the N1,800/$ rate.
Why is the dollar losing against the Naira, yet prices of goods aren't reflecting the change? Let's dive into the dynamics of exchange rates and market prices.
🧵 A thread
1. Consider a merchant in Alaba market who bought refrigerators at N100,000 each when $1 was N1,000. That's $100 per refrigerator. Suddenly, the exchange rate spikes to N1,800 per dollar.