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Nairaland Forum / Nairaland / General / Business / Landing Cost Of Petrol Increases Because Of Devaluation Of Naira (13559 Views)
Economic Effect Of Devaluation Of Currency. / What Is Devaluation Of Naira? / No More Importation Of Petrol Once My Refinery Is Ready- Dangote (2) (3) (4)
Re: Landing Cost Of Petrol Increases Because Of Devaluation Of Naira by kart042000(m): 7:52am On Mar 12, 2015 |
Fourwinds: The truth is that the naira ought to have been falling " meaning rising to a $" all the while sanusi was president of CBN. He was using the naira to stabilize the dollar rate by trading more money, we had more money then anyway, but at the moment, the excess money is no longer there to stabilize the naira. For example lets say you sell a $ for 150 naira, your economy produce things and distribute worldwide, aĺl i do is buy, the $ becomes stronger because they can regulate cost of goods, all i do is buy therefore whatever rate it comes i buy. If the international value rises from 1$ - 170 naira, govt pays the 20 naira excess per $ to stabilize the currency. The naira ought to have been devalued long ago so we know the true state of the economy. My little understanding though, the oil is not enough to strengthen our currency |
Re: Landing Cost Of Petrol Increases Because Of Devaluation Of Naira by Fourwinds: 4:26pm On Mar 12, 2015 |
kart042000:ur explanation wasn't too clear to me. though key point seem to be there thanks |
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