abbey621:
Why are you people so daft? What was the bank rate before may 29, what is it now? You'll notice the difference is less than 4 naira per dollar. The black market is what's causing the confusion because new CBN directives means shortage of dollars in circulation. The economy is steady and all those shouting Buhari this, Buhari that are just plain illiterates!

GreenWhiteGreen:
You right bro. I'm changing it.

philips70:
The illiteracy rate in Nairaland rose astronomically since GEJ lost the elections. The few literate GEJ supporters here have made it as a point of duty, albeit intentionally to further drain out the tiny liquid of literacy in the heads of the dafts. Sorry situation.

anonimi:



Thanks, bro.
As I see sey you dey patriotic already na im make I suggest am so your patriotism go be 101%




[img]http://ladyifelove.files./2013/10/nigeria-flag.jpg[/img]

Duletion:
Very soon it would be like Zimbabwe. People go dey use wheelbarrow to carry money

sorextee:
i cant wait till it gets to 500naira a dollar..

anonimi:


Will this your dogo turanci make $1 equate to N1 as promised by the Daura Dulllard

sorextee:
i cant wait till it gets to 500naira a dollar..

Dorrobucci:
.

LOL

nawtibownie:
It is well!

abbey621:
Why are you people so daft? What was the bank rate before may 29, what is it now? You'll notice the difference is less than 4 naira per dollar. The black market is what's causing the confusion because new CBN directives means shortage of dollars in circulation. The economy is steady and all those shouting Buhari this, Buhari that are just plain illiterates!

philips70:
Only dullards understood the speech in Imo to be so.

I will make naira equal in value to dollar – Buhari
March 23, 2015


More from: http://dailypost.ng/2015/03/23/i-will-make-naira-equal-in-value-to-dollar-buhari/

I’ll make Naira equal in value to dollar, says Buhari
March 23, 2015



[img]http://cdn2.vanguardngr.com/wp-content/uploads/2015/03/346x250xbuhari-Naira.jpg.pagespeed.ic.UYFxvx98AY.webp[/img]




- See more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.5arSBBQg.dpuf

collinsVP:


Please sir/madam, could you please throw more light on Bank Rate and the bearing it has with Forex? Because i understand it to mean The interest rate at which a nation's central bank lends money to domestic banks. It is also known as discount rate.

It could also refer to the interest rate at which banks lend money to their customers.

Foreign exchange rate is mainly driven by forces of demand and supply. For there to be a cut down in the volume of dollars supplied to importers by CBN, it invariably encourages hike in rate.

Most important is the fact that demand will not fall in the same direction as the supply because importers who trade on products that have near inelastic demand will keep importing regardless of the change in foreign exchange rate because they can pass the increase in cost of those products to buyers in the form of higher price.

wildchild1:


Yahoo boy alert

abbey621:


Bank rate and discount rates are two different things. In terms of forex, money is exchanged between one currency to another. If pursued through the proper channels the rate at which the bank converts our currency to another is known as the bank rate. Most times this rate reflects that set by CBN. Black market are secondary channels where currencies are exchanged, due to the volatility and the amount of transactions in a day, the black market are able to offer exchange rates significantly better than the bank rates because of fewer restrictions.

anonimi:




The news story was published FIVE whole days before the elections. Kindly show us where Gen. Muhammadu Buhari denied saying it or corrected the "misinterpretation". Or is he no longer an incorruptible man of integrity
Thanks.

Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office.

Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.buhari-Naira

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said.

He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing.

Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth.

He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections.

Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally.

The rally was attended by APC supporters from Abia, Ebonyi, Anambra, Enugu and Imo. (NAN)

Mprepz:
ALL thanks to BUHARI

Adminisher:


No sir. Your brother Jonathan and his ministers caused it. I see jail terms their future.

RobinHez:
sauce: www.nairaland.com/Bashirfuntua