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Nairaland Forum / Nairaland / General / Business / Naira Unification: Forex Inflow Rises By 28% To $1.41bn (18815 Views)
Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ / CBN announces unification of FX windows, stops Naira4Dollar scheme / Central Bank Starts Uniform Exchange Rate For Naira, Now ₦380 To $1 (2) (3) (4)
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Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by biina: 12:32am On Jul 26, 2023 |
As long as Nigeria's demand for forex remains higher than our supply, the exchange rate will continue to decline. 1000 NGN to 1 USD by December is being very optimistic. We will likely get their before then. The obvious truth is that things are getting more expensive everyday and the common man is suffering badly - everything else (like this article) na grammar! |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by biina: 12:33am On Jul 26, 2023 |
For those claiming that things are getting better, then whatever changes the common man is experiencing, may God bring 1000 times of such changes on you, your family and your yet unborn descendants! |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by TheboyGhost(m): 12:46am On Jul 26, 2023 |
realmindz: I put Nigeria. That is because Nigerian government still occupies land by force which the Biafran government in Exile is trying to break and force them out of Biafran land. |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by grandstar(m): 12:48am On Jul 26, 2023 |
castro2468: It will take time. A step government can take now to hasten economic growtb and inflow of forex and foreign investment is to cut corporate tax to 15% or less and reduce the withholding tax on dividends. The slash in company tax and withholding tax should lead to a massive inflow of foreign portfolio investment into Nigerias stocks. Rising share prices will enable publicly traded companies float new shares to expand production and so on. Government must also stop the inflationary habit of paying the dollar component of revenues earned to the 3 tiers of government first in dollars whoch they later use to buy forex. Give it to them in Dollars first which they change to Naira as this will not only strengthen the Naira, but will drive down inflation and enable a much lax monetary policy which will eventually see the long desires low affordable interest rates. |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by realmindz: 12:51am On Jul 26, 2023 |
TheboyGhost: So for now, you are a Nigerian |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by COMPAQ(m): 2:50am On Jul 26, 2023 |
castro2468: There is no magic to economic stability and growth. It takes time and consistency and that's assuming your are adopting the right policies. I do belive the policy is right, but it's too soon to expect miracles from foreign investment. Foreigners are still waiting to see the Ministers, judge economic policy direction in other areas, see that's it's being followed faithfully before they get the comfort to bring in their dollars. 1 Like |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by TheboyGhost(m): 6:27am On Jul 26, 2023 |
realmindz: No I am a Nigerian, they occupy my land and so i am forced to be called one. |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by tollyboy5(m): 12:41pm On Jul 26, 2023 |
IyaTola:Mummy Tola, Can i send this to my elder sister? she's graduated in lasu. History and international relation. She has worked as hotel manager and also work at the airport before. 1 Like |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by tollyboy5(m): 12:45pm On Jul 26, 2023 |
Shattuck:And emefiele made it difficult to receive money despite knowing all this. Wow! |
Re: Naira Unification: Forex Inflow Rises By 28% To $1.41bn by IyaTola: 10:20pm On Jul 26, 2023 |
tollyboy5:Yes please 1 Like |
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