berem:
Time to vote out this bad government.

We need change!

Here2BustnScrew:

pls. what change?

kaboninc:


Old NEWS!

This is how you create FALSE news and spread it with so much ZEAL and PASSION. Common sense which is common, you don't have. And people like berem will come here to rant her support for block heads like you.

There is no current 'official' rate by either the CBN or YOU. The market has been liberalized, thus allowing demand and supply to determine the exchange rate. There's a window called the [size=15pt]Interbank Window[/size]. CBN has pegged the exchange rate of the dollar from that window.

There are so many dynamics going on here but because you appear to be DULL, I should save you the PAIN of understanding!

See the peeps above me most of them typing away their intelligence and broadcasting their IGNORANCE of the SUBJECT MATTER.

Like that diluminati and Adminisher!

aguiyi:



we no longer import much of rice
we no longer import cement
we no longer import much of cars

Ephemmm:


THIS IS WHAT NEWSPAPERS' HEADLINES AFTER FEBRUARY 17TH, 2015 WILL LOOK LIKE:

1. "Jega declares Buhari elected with 26.4 million votes! PDP rejects result" - VANGUARD!

2. "Buhari declared winner!". "This is the worst election in Nigeria's history" (olisa metuh) - PUNCH!

3."APC in a historic victory!". "Godswill Akpabio flees to Ghana, begs for forgiveness". – PM NEWS!

4. "This is the most rigged election in the world, Jega must be arrested and imprisoned immediately. We are heading to court" (Ruben Abati) - THE NATION!

5. "South-south boils as INEC declares Buhari winner.- DAILY INDEPENDENT!

6. "APC wins Aso Rock, 70 senate seats and 65% House of Reps.
We are studying the results" (Mimiko) – SUN NEWSPAPER!

7. "National Association of Nigerian Militants protests Buhari's victory, demands cancellation of polls in 21 states"
- TRIUMPH NEWSPAPER!

8. "How Jega rigged the polls for Buhari . . ." - Premium time

9. "Obama congratulates Buhari.

Watch out!

aguiyi:


anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

kaboninc:


The Interbank Window is like every other market where banks go to source for funds to meet customer's obligations such as the USD. It could be for seeking 'quick cash' too. So if bank A has $100 and bank B needs $100, bank A can sell to bank B through that platform. But transactions on this platforms are in huge oh.

In Nigeria of recent, there used to be 2 major windows or market platforms that determine the exchange rates - CBN's auction system (RDAS and WDAS) and the Interbank Market. The auction system is actually a controlled system and that really came with severe consequences especially with dwindling oil prices which is our major foreign exchange earner. One consequence was large price differentials between CBN's official rate, interbank's rate and the black market.

Another was that it was open to abusive, speculative and round tripping activities by dealers. CBN began monitoring activities in the FX market when they had to dip their hands into their reserve to sustain demands and support the naira. By observing the demands, they felt that it was actually been abused. Let me give an instance. A customer comes and presents a bid for say $300 million (gets it from CBN at say N168). Gets the funds. Instead of meeting geuine demands, he goes on to sell to BDCs at the interbank rate (at 181 or higher which is about N13 or higher in profit for every dollar) without doing ANYTHING! That is N3.9 billion cool cash!

Thus those who genuinely demand USD do not get it and those who can give, give at higher prices (scarcity). So CBN has to come up with so many measures and policies to curtail this 'MADNESS' and one of the latest was to effectively close the auction system and allow the forces of demand and supply to determine the exchange rate.

Opari

kaboninc:


They are rubbish to your ear because you my friend is rubbish.

What is your business if N200 is to a dollar?

What do you as a person do with the dollar? What's is your interest? And how does it affect you as a person that a dollar cost 200 naira?

Let me see your 'layman' reasoning!

aguiyi:


anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

aguiyi:


anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

Slynonny:
That's a good one instead of pumping in money to sustain the Naira over the Dollar.
Expect APC to campaign with this news.
In other news.
How you living Mr Ayo Fayose for exposing APC lies and propaganda?
Ans: In Mansion and Benzes giving headache to APC and it feels stupendous.
How you feeling Mr Femi Fani Kayode for dumping APC?
Ans: Am feeling good like never before.
APC is dead and is on the news.
How do you feel going back to PDP Mr Barcanista?
I feel at home.
Is been a long time coming and am glad am finally home.
Just like the biblical prodigal son i've realised my mistakes and gone back to PDP.
In Jonathan we have seen real and positive change.
Vote Wisely GEJ 2019

ARES:


Bros you seem to have the inside info..... can you kindly drop us the official price it is pegged at. thank you

Slynonny:
That's a good one instead of pumping in money to sustain the Naira over the Dollar.
Expect APC to campaign with this news.
In other news.
How you living Mr Ayo Fayose for exposing APC lies and propaganda?
Ans: In Mansion and Benzes giving headache to APC and it feels stupendous.
How you feeling Mr Femi Fani Kayode for dumping APC?
Ans: Am feeling good like never before. Shoro niyen
APC is dead and is on the news.
How do you feel going back to PDP Mr Barcanista?
I feel at home.
Is been a long time coming and am glad am finally home.
Just like the biblical prodigal son i've realised my mistakes and gone back to PDP.
In Jonathan we have seen real and positive change.
Vote Wisely GEJ 2019

dan55:
it cant stop anything. My friend in the business now buys and sells at 217 that is 18 naira gain

tinkinjow:
Peg the damn thing...ignore all thee free market nonsense until you have enough leverage for exports.

Bloodydemon:


oga jonah s a terrorist
pdpIs bokoharam
Gej till 2015
Buhari sai

aguiyi:


anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

michealewela:
i think it affect us directly, maybe you don't stay in Nigeria that's the reason you don't know the effects,, a common tecno phone that was selling for 12k 3months ago has gone upto 15k and if you care to ask the sellers the only reason they will give is "the naira has fallen against the dollar"

tinkinjow:
Peg the damn thing...ignore all thee free market
nonsense until you have enough leverage for
exports.

989900:


I'm yet to hear anyone say anything reasonable against the above. The only counter-explanations you get are, persnickety theories straight out of NOI and Sanusi's textbook economics.

kaboninc:



It appears two of you know NOTHING about ORDINARY demand and supply.

blackandbold:
lol.at this rate..one day federal government may declare one day that nigeria has been sold out..or let put it this way.."nigeria has been privatized"

Emmeritus:

thank me later.

Bizibi:
on nairaland,the more you educate them,the more they display their ignorance....I pray this mentality from people on nairaland is not more than 60% of Nigeria's population

diluminati:
to the layman let me explain.
the clueless government didnt foresee that u.s will rely on shale and dump the brent
they were too clueless to see it, no doubt about that
so they loot and stash, $20 billion? remember? and even more, then the price of crude
drop coz america does not need our stuff again
so it was hard getting dollars, what needs to be done is to ante up the naira, so america finally says
ok, we will give you N200 for now, you cant bring it back down unless you return your stolen money


Now what is the stolen money, remember the dubious south africa arms purchase? the same arms that end up with boko haram?
so they laundered the cash through firearms purchase.
Trash in totality.