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Nairaland Forum / Nairaland / General / Business / Naira Up To N1,430/$ In Parallel Market (1546 Views)
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Re: Naira Up To N1,430/$ In Parallel Market by Donaldoni: 8:09am On Mar 26 |
It is less on ByBit As far as our foreign reserves keeps rising while CBN sells dollars to those who really need it, then we are on good footing. Afterall, CBN won't eat their dollar nah. And we don't spend dollar as a country. So what will the CBN be doing with all the dollar in their confers By the time refineries commence operation, the Naira will gain even further. I think making the custom exchange rate equal to the NAFEM rate is the straw that broke the camel's back. It was a MASTERSTOKE! Earn dollars. Don't hoard it. 2 Likes |
Re: Naira Up To N1,430/$ In Parallel Market by Foreverly02: 8:20am On Mar 26 |
Hmm |
Re: Naira Up To N1,430/$ In Parallel Market by TheLastProphet: 8:27am On Mar 26 |
Putindbutt:what does it mean to defend the naira? |
Re: Naira Up To N1,430/$ In Parallel Market by TheLastProphet: 8:29am On Mar 26 |
Hoelujohn:what magic has CBN done that is new here. Defending the naira means that CBN injects dollar into the market to stabilize the naira |
Re: Naira Up To N1,430/$ In Parallel Market by CodeTemplar: 8:44am On Mar 26 |
Putindbutt:both. Local manufacturers use forex for hiring of experts, raw materials, machinery and repatriation of profit. Your brain won't see that because you have been rewired through kola nut oaths. |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 9:06am On Mar 26 |
Ofunaofu: You mean Emefiele errors should be ignored? They deceive unaself. |
Re: Naira Up To N1,430/$ In Parallel Market by Putindbutt: 9:19am On Mar 26 |
TheLastProphet:So you don't know before you opened your mouth to talk rubbish. |
Re: Naira Up To N1,430/$ In Parallel Market by Putindbutt: 9:19am On Mar 26 |
CodeTemplar:Go and play with sand, olodo. |
Re: Naira Up To N1,430/$ In Parallel Market by CodeTemplar: 9:22am On Mar 26 |
Putindbutt:what works for you may not for me. Now embrace your sand play alone... |
Re: Naira Up To N1,430/$ In Parallel Market by drlateef: 9:26am On Mar 26 |
forgiveness: That’s not defensive. That’s no normal supply process. Go and read economics. |
Re: Naira Up To N1,430/$ In Parallel Market by Ofunaofu: 9:36am On Mar 26 |
forgiveness: Are you now implying that Tinubu and cardoso aren't committing their own errors |
Re: Naira Up To N1,430/$ In Parallel Market by Tallesty1(m): 9:36am On Mar 26 |
forgiveness:Naira is being defended sir. Learn to be honest, it doesn't cost a thing. |
Re: Naira Up To N1,430/$ In Parallel Market by Putindbutt: 9:37am On Mar 26 |
CodeTemplar:Don't spread your ignorance here, go spread it among the sand. |
Re: Naira Up To N1,430/$ In Parallel Market by Putindbutt: 9:39am On Mar 26 |
Tallesty1:Yet another dummy. |
Re: Naira Up To N1,430/$ In Parallel Market by Kaiser20: 9:41am On Mar 26 |
magoo10:What is your definition normal in Nigeria? |
Re: Naira Up To N1,430/$ In Parallel Market by being(m): 9:50am On Mar 26 |
The so called magic is simply asking IOCs to delay 50% of their remittance by 3 months!! Also, oil price rose in the last couple of weeks. Defending of the naira simply means CBN supplying dollars to keep the rate at a particular price even if it means emptying the foreign reserves just to keep that rate. They can supply and not defend ie they don't supply enough to keep a particular rate. |
Re: Naira Up To N1,430/$ In Parallel Market by TheLastProphet: 10:06am On Mar 26 |
Putindbutt:tell us what it means tinubu online bandit |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 11:28am On Mar 26 |
Ofunaofu: They are correcting Emefiele's errors. |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 11:30am On Mar 26 |
drlateef: Where in a sane country do you get supply of forex? From Aboki, abi? |
Re: Naira Up To N1,430/$ In Parallel Market by codeworks(m): 12:35pm On Mar 26 |
How much is pound in black today? |
Re: Naira Up To N1,430/$ In Parallel Market by drlateef: 2:10pm On Mar 26 |
forgiveness: We are talking of CBN supplying the market, not aboki. |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 2:12pm On Mar 26 |
drlateef: Then why was he querying CBN for distributing forex? Nobi aboki em dey expect? |
Re: Naira Up To N1,430/$ In Parallel Market by drlateef: 2:56pm On Mar 26 |
forgiveness: That’s exactly why I educated him. |
Re: Naira Up To N1,430/$ In Parallel Market by Ofunaofu: 3:27pm On Mar 26 |
forgiveness: They are not correcting Emefiele's errors Rather they're creating monumental errors |
Re: Naira Up To N1,430/$ In Parallel Market by worksmart(m): 3:32pm On Mar 26 |
Artificially maintained at N1,400 by mandating BDCs to buy dollar for no mare than N1,400. However this is just for eye-service and is not sustainable. |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 3:42pm On Mar 26 |
Ofunaofu: From Emefiele. |
Re: Naira Up To N1,430/$ In Parallel Market by Ofunaofu: 3:52pm On Mar 26 |
forgiveness: From themselves Emefiele created no single error Emefiele left when naira was exchanging at N760 to a dollar, Tinubu with his patch patch CV CBN governor crashed it to over 1900 then brought it to N1400 where it is at the moment and you say it's Emefiele's error, how? |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 5:14pm On Mar 26 |
Ofunaofu: Where did Emefiele met it? N760? |
Re: Naira Up To N1,430/$ In Parallel Market by ValarDoharis: 5:20pm On Mar 26 |
You think Nigerians care whether the naira is defended or not? As long as dollar is over twice as much as Tinubu met it, he is a failure! Same as petrol price forgiveness: |
Re: Naira Up To N1,430/$ In Parallel Market by forgiveness: 5:27pm On Mar 26 |
ValarDoharis: Leave it the way the way he met it? |
Re: Naira Up To N1,430/$ In Parallel Market by AJSfan: 5:28pm On Mar 26 |
Ofunaofu:oga make you fear God na....Emefiele didn't create any error ke? When official rate was 400 and parallel rate was 700, creating a 300+ margin per dollar for arbitrage traders who produce absolutely nothing but use their connections to get dollars at official rate and round-trip to make huge profit. Closing that gap btw official and blackmarket rate is a feat that Cardoso should be celebrated for |
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