Academic expert explains reasons for Foreign Currency shortage in PNG

 An academic in the economic field says having only one supplier on the interbank market has its disadvantages.

This is where forex dealers like banks and other financial institutions go to buy foreign currency to meet their shortages.

Economics lecturer with the School of Business at the University of Papua New Guinea Kelly Samof says the difference between the nominal and real exchange rates has caused the US dollar to be bought at a much higher rate.

He made these comments whilst explaining the main reasons for the current shortage of Foreign currency in the country.

NBC News/One PNG News

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